174,498 Shares in Park Hotels & Resorts Inc. $PK Acquired by Mitsubishi UFJ Asset Management Co. Ltd.

Key Points

• Mitsubishi UFJ Asset Management acquired 174,498 shares of Park Hotels & Resorts, valued at approximately $2.49 million, giving it a 0.09% stake. Institutional investors and hedge funds collectively own 92.69% of the company.
• Analysts remain cautious, with two Buy ratings, 11 Holds and one Sell; the consensus rating is Hold with an average price target of $13.92.
• Park Hotels & Resorts reported quarterly revenue of $680 million, above estimates, while adjusted earnings matched expectations at $0.24 per share. The company declared a $0.25 quarterly dividend, representing a 6.3% annualized yield.

Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Park Hotels & Resorts Inc. (NYSE:PK - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 174,498 shares of the financial services provider's stock, valued at approximately $2,487,000. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.09% of Park Hotels & Resorts as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of PK. Donald Smith & CO. Inc. raised its holdings in shares of Park Hotels & Resorts by 14.2% in the 4th quarter. Donald Smith & CO. Inc. now owns 14,617,921 shares of the financial services provider's stock worth $152,903,000 after acquiring an additional 1,813,338 shares during the last quarter. Bank of America Corp DE raised its stake in shares of Park Hotels & Resorts by 1.6% during the 3rd quarter. Bank of America Corp DE now owns 13,074,474 shares of the financial services provider's stock worth $144,865,000 after purchasing an additional 203,922 shares during the period. AQR Capital Management LLC boosted its stake in Park Hotels & Resorts by 76.7% in the second quarter. AQR Capital Management LLC now owns 7,744,912 shares of the financial services provider's stock valued at $79,230,000 after acquiring an additional 3,361,382 shares during the last quarter. Sculptor Capital LP grew its holdings in Park Hotels & Resorts by 154.1% during the second quarter. Sculptor Capital LP now owns 6,534,153 shares of the financial services provider's stock valued at $66,844,000 after purchasing an additional 3,962,304 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Park Hotels & Resorts by 6.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,257,003 shares of the financial services provider's stock worth $44,528,000 after acquiring an additional 273,410 shares during the period. 92.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on PK shares. Truist Financial lifted their price objective on shares of Park Hotels & Resorts from $12.00 to $13.00 and gave the company a "hold" rating in a research note on Tuesday, May 26th. Morgan Stanley upped their price objective on shares of Park Hotels & Resorts from $10.50 to $11.00 and gave the stock an "equal weight" rating in a research report on Friday, July 17th. Weiss Ratings upgraded Park Hotels & Resorts from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Tuesday, August 11th. Wells Fargo & Company raised shares of Park Hotels & Resorts to a "hold" rating in a research note on Thursday, July 23rd. Finally, Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $18.00 target price on shares of Park Hotels & Resorts in a report on Friday, August 14th. Two research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $13.92.

Park Hotels & Resorts Stock Performance

Park Hotels & Resorts stock opened at $15.81 on Friday. The stock's 50 day simple moving average is $14.73 and its two-hundred day simple moving average is $12.57. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.53 and a current ratio of 1.53. The stock has a market cap of $3.18 billion, a price-to-earnings ratio of -19.05, a PEG ratio of 2.09 and a beta of 1.34. Park Hotels & Resorts Inc. has a fifty-two week low of $9.84 and a fifty-two week high of $15.97.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $0.24 EPS for the quarter, meeting the consensus estimate of $0.24. Park Hotels & Resorts had a negative return on equity of 5.23% and a negative net margin of 6.41%.The business had revenue of $680.00 million during the quarter, compared to analyst estimates of $659.68 million. During the same quarter last year, the firm posted $0.64 earnings per share. The company's revenue for the quarter was up 1.2% on a year-over-year basis. As a group, analysts expect that Park Hotels & Resorts Inc. will post 1.79 earnings per share for the current fiscal year.

Park Hotels & Resorts Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 6.3%. The ex-dividend date of this dividend is Wednesday, September 30th. Park Hotels & Resorts's dividend payout ratio (DPR) is -120.48%.

Park Hotels & Resorts Company Profile

Park Hotels & Resorts Inc is a publicly traded real estate investment trust (REIT) specializing in luxury and upper-upscale hospitality properties. The company's primary business activity involves owning and leasing premier hotels and resorts across major urban and resort destinations. Through long-term management and franchise agreements with leading hotel operators, Park generates revenue from room nights, food and beverage offerings, meetings and events, and ancillary services.

Since its spin-off from Hilton Worldwide in January 2017, Park Hotels & Resorts has assembled a diversified portfolio of more than 60 properties.

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