Utah Retirement Systems grew its stake in Park Hotels & Resorts Inc (NYSE:PK) by 3.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 50,158 shares of the financial services provider’s stock after acquiring an additional 1,700 shares during the quarter. Utah Retirement Systems’ holdings in Park Hotels & Resorts were worth $1,646,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Dupont Capital Management Corp purchased a new position in Park Hotels & Resorts in the second quarter valued at about $902,000. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Park Hotels & Resorts by 6.3% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 211,880 shares of the financial services provider’s stock valued at $6,490,000 after purchasing an additional 12,615 shares during the period. Aviva PLC raised its position in shares of Park Hotels & Resorts by 21.5% in the second quarter. Aviva PLC now owns 101,284 shares of the financial services provider’s stock valued at $3,102,000 after purchasing an additional 17,908 shares during the period. Alps Advisors Inc. bought a new stake in shares of Park Hotels & Resorts in the second quarter valued at approximately $479,000. Finally, Virginia Retirement Systems ET AL raised its position in shares of Park Hotels & Resorts by 264.1% in the second quarter. Virginia Retirement Systems ET AL now owns 231,200 shares of the financial services provider’s stock valued at $7,082,000 after purchasing an additional 167,700 shares during the period.

Park Hotels & Resorts stock opened at $30.16 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.55 and a current ratio of 1.55. The company has a market cap of $6.17 billion, a P/E ratio of 10.54, a PEG ratio of 2.24 and a beta of 0.99. Park Hotels & Resorts Inc has a 1-year low of $23.91 and a 1-year high of $34.27.

Park Hotels & Resorts (NYSE:PK) last posted its earnings results on Thursday, November 1st. The financial services provider reported $0.26 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.64 by ($0.38). The firm had revenue of $652.00 million for the quarter, compared to the consensus estimate of $656.61 million. Park Hotels & Resorts had a return on equity of 8.27% and a net margin of 17.46%. The business’s revenue was down 5.2% on a year-over-year basis. During the same period last year, the company posted $0.66 EPS. Research analysts expect that Park Hotels & Resorts Inc will post 2.84 EPS for the current year.

Several analysts have recently issued reports on PK shares. Wells Fargo & Co lowered their price target on shares of Park Hotels & Resorts from $32.00 to $29.00 and set a “market perform” rating on the stock in a research report on Friday, November 16th. Nomura boosted their price target on shares of Park Hotels & Resorts from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Friday, November 2nd. Deutsche Bank set a $32.00 price target on shares of Park Hotels & Resorts and gave the company a “hold” rating in a research report on Saturday, November 3rd. Zacks Investment Research lowered shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research report on Friday, November 9th. Finally, Evercore ISI lowered shares of Park Hotels & Resorts from an “outperform” rating to an “in-line” rating in a research report on Monday, August 20th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $31.72.

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Park Hotels & Resorts Profile

Park is the second largest publicly traded lodging REIT with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value. Park's portfolio consists of 54 premium-branded hotels and resorts with over 32,000 rooms, a majority of which are located in prime United States markets with high barriers to entry.

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Institutional Ownership by Quarter for Park Hotels & Resorts (NYSE:PK)

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