Advisors Asset Management Inc. Has $533,000 Position in Park Hotels & Resorts Inc (PK)

Advisors Asset Management Inc. increased its holdings in Park Hotels & Resorts Inc (NYSE:PK) by 2,183.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 96,168 shares of the financial services provider’s stock after acquiring an additional 91,957 shares during the period. Advisors Asset Management Inc.’s holdings in Park Hotels & Resorts were worth $533,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of PK. Envestnet Asset Management Inc. grew its position in Park Hotels & Resorts by 94.6% in the second quarter. Envestnet Asset Management Inc. now owns 5,371 shares of the financial services provider’s stock worth $165,000 after acquiring an additional 2,611 shares during the period. First Republic Investment Management Inc. purchased a new position in Park Hotels & Resorts in the second quarter worth approximately $213,000. Hollencrest Capital Management purchased a new position in Park Hotels & Resorts in the second quarter worth approximately $221,000. Raymond James Trust N.A. purchased a new position in Park Hotels & Resorts in the second quarter worth approximately $248,000. Finally, Hartford Investment Management Co. purchased a new position in Park Hotels & Resorts in the second quarter worth approximately $259,000.

Several research analysts have recently commented on PK shares. Barclays restated a “buy” rating on shares of Park Hotels & Resorts in a research report on Friday, August 3rd. Jefferies Financial Group set a $38.00 price target on Park Hotels & Resorts and gave the stock a “buy” rating in a research report on Friday, August 3rd. Evercore ISI lowered Park Hotels & Resorts from an “outperform” rating to an “in-line” rating in a research report on Monday, August 20th. SunTrust Banks restated a “buy” rating on shares of Park Hotels & Resorts in a research report on Friday, August 3rd. Finally, Zacks Investment Research lowered Park Hotels & Resorts from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 11th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. Park Hotels & Resorts currently has an average rating of “Hold” and a consensus target price of $31.28.

PK opened at $31.54 on Tuesday. Park Hotels & Resorts Inc has a 52 week low of $23.91 and a 52 week high of $34.27. The firm has a market cap of $6.60 billion, a PE ratio of 11.35, a PEG ratio of 2.36 and a beta of 0.51. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.51.

Park Hotels & Resorts (NYSE:PK) last released its quarterly earnings results on Wednesday, August 1st. The financial services provider reported $0.93 EPS for the quarter, topping the consensus estimate of $0.82 by $0.11. Park Hotels & Resorts had a return on equity of 8.41% and a net margin of 19.08%. The business had revenue of $731.00 million during the quarter, compared to analyst estimates of $696.01 million. During the same period last year, the business posted $0.81 earnings per share. The company’s quarterly revenue was down .3% on a year-over-year basis. Equities research analysts predict that Park Hotels & Resorts Inc will post 2.86 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Friday, September 28th will be issued a $0.43 dividend. The ex-dividend date of this dividend is Thursday, September 27th. This represents a $1.72 dividend on an annualized basis and a yield of 5.45%. Park Hotels & Resorts’s dividend payout ratio (DPR) is presently 61.87%.

About Park Hotels & Resorts

Park is a leading lodging REIT with a diverse portfolio of 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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