Deutsche Bank AG Makes New Investment in Park Hotels & Resorts Inc. $PK

Deutsche Bank AG acquired a new stake in Park Hotels & Resorts Inc. (NYSE:PK - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 410,567 shares of the financial services provider's stock, valued at approximately $5,851,000. Deutsche Bank AG owned approximately 0.20% of Park Hotels & Resorts at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Global Retirement Partners LLC acquired a new stake in Park Hotels & Resorts in the second quarter valued at $25,000. Danske Bank A S acquired a new position in shares of Park Hotels & Resorts during the 3rd quarter worth about $25,000. Fifth Third Bancorp increased 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 acquiring an additional 1,061 shares during the last quarter. Advisory Services Network LLC purchased a new stake in Park Hotels & Resorts during the third quarter worth approximately $34,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in 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 purchasing an additional 1,464 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on PK shares. Wells Fargo & Company upgraded shares of Park Hotels & Resorts to a "hold" rating in a research note on Thursday, July 23rd. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $18.00 price objective on shares of Park Hotels & Resorts in a research report on Friday, August 14th. BMO Capital Markets restated a "market perform" rating and issued a $14.00 target price on shares of Park Hotels & Resorts in a report on Friday, June 12th. JPMorgan Chase & Co. lifted their price target on shares of Park Hotels & Resorts from $13.00 to $14.00 and gave the stock an "underweight" rating in a research note on Monday, August 10th. Finally, LADENBURG THALM/SH SH boosted their price target on shares of Park Hotels & Resorts from $16.00 to $20.00 and gave the company a "buy" rating in a research report on Tuesday, June 16th. Two research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Park Hotels & Resorts has an average rating of "Hold" and an average target price of $13.92.

Park Hotels & Resorts Stock Up 0.6%

PK stock opened at $15.87 on Tuesday. The company has a fifty day moving average price of $14.76 and a 200 day moving average price of $12.61. Park Hotels & Resorts Inc. has a 12 month low of $9.84 and a 12 month high of $15.99. The company has a market cap of $3.20 billion, a price-to-earnings ratio of -19.12, a price-to-earnings-growth ratio of 2.09 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 1.53.

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

Park Hotels & Resorts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be paid a dividend of $0.25 per share. The ex-dividend date is Wednesday, September 30th. This represents a $1.00 annualized dividend and a dividend yield of 6.3%. Park Hotels & Resorts's dividend payout ratio is -120.48%.

About Park Hotels & Resorts

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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