Strs Ohio Lowers Stock Position in Park Hotels & Resorts Inc (NYSE:PK)

Strs Ohio cut its position in shares of Park Hotels & Resorts Inc (NYSE:PK) by 6.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 266,787 shares of the financial services provider’s stock after selling 17,337 shares during the period. Strs Ohio’s holdings in Park Hotels & Resorts were worth $7,352,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Parametric Portfolio Associates LLC boosted its holdings in Park Hotels & Resorts by 27.5% during the first quarter. Parametric Portfolio Associates LLC now owns 417,862 shares of the financial services provider’s stock worth $12,987,000 after buying an additional 90,165 shares in the last quarter. Tyers Asset Management LLC boosted its holdings in Park Hotels & Resorts by 28.6% during the first quarter. Tyers Asset Management LLC now owns 150,128 shares of the financial services provider’s stock worth $4,666,000 after buying an additional 33,344 shares in the last quarter. Waratah Capital Advisors Ltd. purchased a new stake in Park Hotels & Resorts during the second quarter worth $1,138,000. Great West Life Assurance Co. Can boosted its holdings in Park Hotels & Resorts by 2.2% during the first quarter. Great West Life Assurance Co. Can now owns 188,510 shares of the financial services provider’s stock worth $5,849,000 after buying an additional 4,140 shares in the last quarter. Finally, LSV Asset Management purchased a new stake in Park Hotels & Resorts during the first quarter worth $13,882,000.

PK traded down $0.32 during midday trading on Friday, hitting $24.65. 198,943 shares of the company traded hands, compared to its average volume of 1,643,632. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.74 and a quick ratio of 1.74. The stock has a market cap of $4.91 billion, a P/E ratio of 8.33, a price-to-earnings-growth ratio of 2.13 and a beta of 1.26. Park Hotels & Resorts Inc has a 52-week low of $23.72 and a 52-week high of $34.27. The stock’s 50 day moving average price is $26.79.

Park Hotels & Resorts (NYSE:PK) last posted its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.82 by ($0.42). The company had revenue of $703.00 million for the quarter, compared to analysts’ expectations of $694.08 million. Park Hotels & Resorts had a net margin of 10.52% and a return on equity of 5.06%. The business’s revenue for the quarter was down 3.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.93 earnings per share. Equities analysts expect that Park Hotels & Resorts Inc will post 2.89 EPS for the current year.

Several equities analysts have issued reports on the stock. Zacks Investment Research raised shares of Park Hotels & Resorts from a “sell” rating to a “hold” rating in a report on Wednesday, July 31st. Deutsche Bank set a $33.00 price objective on shares of Park Hotels & Resorts and gave the company a “hold” rating in a report on Wednesday, July 31st. TheStreet downgraded shares of Park Hotels & Resorts from a “b-” rating to a “c” rating in a report on Wednesday, June 5th. Finally, Capital One Financial assumed coverage on shares of Park Hotels & Resorts in a report on Tuesday, June 25th. They set an “overweight” rating and a $34.00 price objective on the stock. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $32.38.

About Park Hotels & Resorts

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

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