82,234 Shares in Park Hotels & Resorts Inc. $PK Purchased by State of Wyoming

Key Points

• State of Wyoming acquired 82,234 shares of Park Hotels & Resorts in the second quarter, valued at approximately $1.17 million. Institutional investors collectively own 92.69% of the company.
• Analysts maintain a generally neutral outlook, with a consensus “Hold” rating and an average price target of $13.92; targets from individual firms range from $11 to $14.
• Park Hotels & Resorts reported quarterly EPS of $0.24, in line with estimates, while revenue of $680 million exceeded expectations. The company declared a quarterly dividend of $0.25, equivalent to a 6.6% annualized yield.

State of Wyoming acquired a new stake in Park Hotels & Resorts Inc. (NYSE:PK - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 82,234 shares of the financial services provider's stock, valued at approximately $1,172,000.

Other institutional investors also recently added to or reduced their stakes in the company. Danske Bank A S acquired a new position in Park Hotels & Resorts during the 3rd quarter worth approximately $25,000. Fifth Third Bancorp lifted its holdings in shares of Park Hotels & Resorts by 68.8% in the 1st quarter. Fifth Third Bancorp now owns 2,604 shares of the financial services provider's stock valued at $27,000 after buying an additional 1,061 shares during the period. Advisory Services Network LLC acquired a new stake in shares of Park Hotels & Resorts in the 3rd quarter valued at approximately $34,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Park Hotels & Resorts by 33.4% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,844 shares of the financial services provider's stock valued at $61,000 after buying an additional 1,464 shares in the last quarter. Finally, North Star Investment Management Corp. boosted its stake in shares of Park Hotels & Resorts by 263.2% in the first quarter. North Star Investment Management Corp. now owns 6,210 shares of the financial services provider's stock valued at $65,000 after buying an additional 4,500 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Barclays upped their price objective on Park Hotels & Resorts from $9.00 to $12.00 and gave the stock an "equal weight" rating in a report on Monday, June 1st. Wells Fargo & Company upgraded shares of Park Hotels & Resorts to a "hold" rating in a research report on Thursday, July 23rd. Morgan Stanley boosted their target price 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 raised shares of Park Hotels & Resorts from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Tuesday. Finally, BMO Capital Markets reiterated a "market perform" rating and issued a $14.00 price target on shares of Park Hotels & Resorts in a report on Friday, June 12th. Two equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $13.92.

Park Hotels & Resorts Price Performance

Shares of NYSE:PK opened at $15.11 on Friday. The firm has a market capitalization of $3.04 billion, a price-to-earnings ratio of -18.20, a price-to-earnings-growth ratio of 2.00 and a beta of 1.34. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.53 and a quick ratio of 1.25. The business's 50 day simple moving average is $14.60 and its 200-day simple moving average is $12.40. Park Hotels & Resorts Inc. has a 12 month low of $9.84 and a 12 month high of $15.48.

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

Park Hotels & Resorts Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be given a $0.25 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.6%. Park Hotels & Resorts's dividend payout ratio (DPR) is currently -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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