Park Hotels & Resorts Inc (NYSE:PK) Shares Sold by Teachers Insurance & Annuity Association of America

Teachers Insurance & Annuity Association of America cut its position in shares of Park Hotels & Resorts Inc (NYSE:PK) by 61.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 72,876 shares of the financial services provider’s stock after selling 114,117 shares during the period. Teachers Insurance & Annuity Association of America’s holdings in Park Hotels & Resorts were worth $2,008,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Meridian Wealth Management LLC acquired a new position in Park Hotels & Resorts during the first quarter worth $32,000. Advisory Services Network LLC increased its stake in shares of Park Hotels & Resorts by 68.5% during the second quarter. Advisory Services Network LLC now owns 1,436 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 584 shares in the last quarter. Golden State Wealth Management LLC raised its position in shares of Park Hotels & Resorts by 188.7% during the 2nd quarter. Golden State Wealth Management LLC now owns 1,836 shares of the financial services provider’s stock worth $50,000 after purchasing an additional 1,200 shares during the last quarter. Penserra Capital Management LLC acquired a new position in shares of Park Hotels & Resorts during the 1st quarter worth about $56,000. Finally, NEXT Financial Group Inc lifted its stake in Park Hotels & Resorts by 4,000.0% in the 2nd quarter. NEXT Financial Group Inc now owns 2,050 shares of the financial services provider’s stock valued at $56,000 after buying an additional 2,000 shares in the last quarter.

Shares of PK traded up $0.49 during midday trading on Wednesday, reaching $25.78. The company had a trading volume of 131,982 shares, compared to its average volume of 1,633,890. Park Hotels & Resorts Inc has a 1-year low of $23.02 and a 1-year high of $33.81. The stock has a market cap of $5.13 billion, a PE ratio of 8.71, a price-to-earnings-growth ratio of 2.24 and a beta of 1.31. The firm has a 50 day simple moving average of $24.51 and a 200-day simple moving average of $28.54. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.56.

Park Hotels & Resorts (NYSE:PK) last announced its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.82 by ($0.42). Park Hotels & Resorts had a net margin of 10.52% and a return on equity of 5.06%. The firm had revenue of $703.00 million during the quarter, compared to analysts’ expectations of $694.08 million. During the same period in the prior year, the company posted $0.93 EPS. The company’s revenue for the quarter was down 3.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Park Hotels & Resorts Inc will post 2.87 earnings per share for the current fiscal year.

Several equities research analysts have commented on PK shares. TheStreet lowered Park Hotels & Resorts from a “b-” rating to a “c” rating in a research note on Wednesday, June 5th. Zacks Investment Research upgraded Park Hotels & Resorts from a “sell” rating to a “hold” rating in a research report on Friday, September 6th. Citigroup reduced their price objective on Park Hotels & Resorts from $31.00 to $25.00 and set a “neutral” rating for the company in a research note on Thursday, September 5th. Capital One Financial initiated coverage on Park Hotels & Resorts in a report on Tuesday, June 25th. They issued an “overweight” rating and a $34.00 price objective on the stock. Finally, UBS Group set a $24.00 target price on shares of Park Hotels & Resorts and gave the stock a “hold” rating in a research note on Friday, August 16th. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Park Hotels & Resorts currently has a consensus rating of “Hold” and an average price target of $30.80.

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

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