Park Hotels & Resorts Inc. (PK) Stake Held by RMR Advisors LLC

RMR Advisors LLC held its stake in shares of Park Hotels & Resorts Inc. (NYSE:PK) during the second quarter, according to its most recent disclosure with the SEC. The fund owned 4,328 shares of the financial services provider’s stock at the end of the second quarter. RMR Advisors LLC’s holdings in Park Hotels & Resorts were worth $117,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Balasa Dinverno & Foltz LLC bought a new stake in shares of Park Hotels & Resorts during the second quarter valued at approximately $307,000. Quantitative Systematic Strategies LLC bought a new stake in shares of Park Hotels & Resorts during the second quarter valued at approximately $456,000. Greenleaf Trust bought a new stake in shares of Park Hotels & Resorts during the second quarter valued at approximately $694,000. Acadian Asset Management LLC bought a new stake in shares of Park Hotels & Resorts during the second quarter valued at approximately $695,000. Finally, Cascade Investment Advisors Inc. raised its stake in shares of Park Hotels & Resorts by 24.8% in the second quarter. Cascade Investment Advisors Inc. now owns 28,358 shares of the financial services provider’s stock valued at $765,000 after buying an additional 5,637 shares in the last quarter. Institutional investors and hedge funds own 96.96% of the company’s stock.

Park Hotels & Resorts Inc. (PK) opened at 25.92 on Friday. The firm has a 50-day moving average of $26.68 and a 200-day moving average of $26.52. Park Hotels & Resorts Inc. has a 1-year low of $24.65 and a 1-year high of $33.40. The firm has a market capitalization of $5.57 billion and a price-to-earnings ratio of 2.22.

Park Hotels & Resorts (NYSE:PK) last released its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $0.81 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.77 by $0.04. The firm had revenue of $733 million during the quarter, compared to analyst estimates of $716.51 million. The firm’s revenue was up 1.1% on a year-over-year basis. On average, analysts expect that Park Hotels & Resorts Inc. will post $12.03 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be issued a $0.43 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 6.64%.

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PK has been the topic of several research analyst reports. Jefferies Group LLC lifted their price target on shares of Park Hotels & Resorts from $58.00 to $69.00 and gave the stock a “hold” rating in a research note on Tuesday, June 20th. Cowen and Company lifted their price target on shares of Park Hotels & Resorts from $61.00 to $70.00 and gave the stock a “market perform” rating in a research note on Tuesday, June 20th. Zacks Investment Research upgraded shares of Park Hotels & Resorts from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a research note on Tuesday, July 11th. Evercore ISI initiated coverage on shares of Park Hotels & Resorts in a research note on Wednesday, May 31st. They set an “outperform” rating and a $28.00 price target on the stock. Finally, Susquehanna Bancshares Inc initiated coverage on shares of Park Hotels & Resorts in a research note on Wednesday, April 26th. They set a “neutral” rating and a $28.00 price target on the stock. Ten research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $34.80.

In other news, Director Stephen I. Sadove acquired 9,600 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The shares were acquired at an average price of $25.97 per share, with a total value of $249,312.00. Following the acquisition, the director now directly owns 20,151 shares in the company, valued at $523,321.47. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Hlt Holdco Iii Prime Llc sold 15,000,000 shares of the stock in a transaction dated Wednesday, June 7th. The stock was sold at an average price of $26.05, for a total transaction of $390,750,000.00. The disclosure for this sale can be found here. 0.25% of the stock is owned by company insiders.

Park Hotels & Resorts Company Profile

Park Hotels & Resorts Inc is a lodging real estate company. The Company has a portfolio of hotels and resorts. The Company operates through ownership segment, which includes all of its hotel properties. As of December 31, 2016, the Company’s portfolio consisted of 67 hotels and resorts with over 35,000 rooms located in the United States and international markets.

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

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