Commonwealth Bank of Australia Lowers Stake in Park Hotels & Resorts Inc (PK)

Commonwealth Bank of Australia decreased its stake in shares of Park Hotels & Resorts Inc (NYSE:PK) by 13.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,500 shares of the financial services provider’s stock after selling 5,100 shares during the period. Commonwealth Bank of Australia’s holdings in Park Hotels & Resorts were worth $818,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the stock. Rehmann Capital Advisory Group lifted its stake in Park Hotels & Resorts by 110.2% in the third quarter. Rehmann Capital Advisory Group now owns 807 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 423 shares during the last quarter. Next Capital Management LLC acquired a new stake in Park Hotels & Resorts in the fourth quarter valued at $36,000. Enlightenment Research LLC acquired a new stake in Park Hotels & Resorts in the fourth quarter valued at $81,000. Robecosam AG lifted its stake in Park Hotels & Resorts by 28.6% in the fourth quarter. Robecosam AG now owns 4,500 shares of the financial services provider’s stock valued at $116,000 after acquiring an additional 1,000 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in Park Hotels & Resorts by 62.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 5,613 shares of the financial services provider’s stock valued at $146,000 after acquiring an additional 2,163 shares during the last quarter.

NYSE PK opened at $31.38 on Friday. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.53. The stock has a market cap of $6.32 billion, a PE ratio of 10.64, a P/E/G ratio of 2.10 and a beta of 1.29. Park Hotels & Resorts Inc has a 52-week low of $25.30 and a 52-week high of $34.27.

Park Hotels & Resorts (NYSE:PK) last posted its earnings results on Wednesday, February 27th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.06. The company had revenue of $686.00 million during the quarter, compared to analysts’ expectations of $659.09 million. Park Hotels & Resorts had a net margin of 17.25% and a return on equity of 8.29%. Park Hotels & Resorts’s quarterly revenue was up .0% compared to the same quarter last year. During the same quarter last year, the company posted $0.68 EPS. As a group, equities research analysts expect that Park Hotels & Resorts Inc will post 2.95 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Friday, March 29th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.74%. The ex-dividend date is Thursday, March 28th.

A number of brokerages have commented on PK. Zacks Investment Research upgraded shares of Park Hotels & Resorts from a “hold” rating to a “buy” rating and set a $36.00 price target for the company in a research note on Wednesday, March 6th. Deutsche Bank set a $34.00 price target on shares of Park Hotels & Resorts and gave the company a “hold” rating in a research note on Friday, March 1st. Barclays reiterated a “buy” rating and issued a $35.00 price target on shares of Park Hotels & Resorts in a research note on Sunday, March 3rd. JPMorgan Chase & Co. set a $29.00 price target on shares of Park Hotels & Resorts and gave the company a “hold” rating in a research note on Thursday, February 28th. Finally, Nomura increased their price target on shares of Park Hotels & Resorts from $32.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, February 28th. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $33.00.

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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 54 premium-branded hotels and resorts with over 32,000 rooms, a majority 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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