Swiss National Bank increased its holdings in shares of Park Hotels & Resorts Inc (NYSE:PK) by 3.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 366,642 shares of the financial services provider’s stock after purchasing an additional 10,900 shares during the period. Swiss National Bank’s holdings in Park Hotels & Resorts were worth $11,395,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also modified their holdings of the stock. Enterprise Financial Services Corp grew its stake in shares of Park Hotels & Resorts by 132.0% in the 1st quarter. Enterprise Financial Services Corp now owns 819 shares of the financial services provider’s stock valued at $25,000 after buying an additional 466 shares in the last quarter. Next Capital Management LLC bought a new stake in Park Hotels & Resorts during the fourth quarter worth approximately $36,000. Penserra Capital Management LLC bought a new stake in Park Hotels & Resorts during the first quarter worth approximately $56,000. Enlightenment Research LLC acquired a new position in shares of Park Hotels & Resorts during the fourth quarter worth approximately $81,000. Finally, Acadian Asset Management LLC acquired a new position in shares of Park Hotels & Resorts during the first quarter worth approximately $97,000.
Shares of PK stock traded up $0.45 during trading hours on Wednesday, hitting $28.12. 17,698 shares of the company’s stock were exchanged, compared to its average volume of 1,685,552. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.43 and a current ratio of 1.43. The stock has a market capitalization of $5.62 billion, a PE ratio of 9.49, a PEG ratio of 2.37 and a beta of 1.38. Park Hotels & Resorts Inc has a 52 week low of $25.30 and a 52 week high of $34.27.
Park Hotels & Resorts (NYSE:PK) last announced its earnings results on Monday, May 6th. The financial services provider reported $0.67 EPS for the quarter, topping the consensus estimate of $0.66 by $0.01. The company had revenue of $659.00 million for the quarter, compared to analysts’ expectations of $655.79 million. Park Hotels & Resorts had a return on equity of 7.38% and a net margin of 15.32%. The business’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.65 earnings per share. As a group, analysts forecast that Park Hotels & Resorts Inc will post 2.96 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 6.40%. The ex-dividend date is Thursday, June 27th. Park Hotels & Resorts’s payout ratio is presently 60.81%.
PK has been the subject of several recent analyst reports. TheStreet upgraded Park Hotels & Resorts from a “c” rating to a “b-” rating in a research note on Friday, February 22nd. Barclays reiterated a “buy” rating and set a $35.00 price objective on shares of Park Hotels & Resorts in a research note on Sunday, March 3rd. Zacks Investment Research upgraded Park Hotels & Resorts from a “hold” rating to a “buy” rating and set a $36.00 price objective for the company in a research note on Wednesday, March 6th. Deutsche Bank set a $34.00 price objective on Park Hotels & Resorts and gave the stock a “hold” rating in a research note on Friday, March 1st. Finally, Nomura increased their price objective on Park Hotels & Resorts from $32.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday, February 28th. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $33.00.
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Park Hotels & Resorts Company 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 52 premium-branded hotels and resorts with over 30,000 rooms, a substantial portion of which are located in prime United States markets with high barriers to entry.
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