Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in shares of Park Hotels & Resorts Inc. (NYSE: PK – Get Rating) by 3.3% during the 1st quarter, according to the company in its latest filing with Securities and Resorts. Exchange fee. The company held 100,198 shares of the financial services provider after purchasing an additional 3,243 shares during the period. The holdings of Mitsubishi UFJ Kokusai Asset Management Co. Ltd. in Park Hotels & Resorts were worth $1,957,000 at the end of the most recent period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Qube Research & Technologies Ltd bought a new position in Park Hotels & Resorts during Q1 worth approximately $644,000. Great Lakes Advisors LLC increased its stake in Park Hotels & Resorts by 24.6% in the 1st quarter. Great Lakes Advisors LLC now owns 183,806 shares of the financial services provider valued at $3,590,000 after acquiring 36,296 additional shares last quarter. Cbre Investment Management Listed Real Assets LLC increased its stake in Park Hotels & Resorts by 122.5% in the 1st quarter. Cbre Investment Management Listed Real Assets LLC now owns 2,843,147 shares of the financial services provider valued at $55,527,000 after acquiring an additional 1,565,418 shares in the last quarter. Twin Capital Management Inc. increased its stake in Park Hotels & Resorts by 49.8% in the 1st quarter. Twin Capital Management Inc. now owns 85,996 shares of the financial services provider valued at $1,680,000 after acquiring an additional 28,590 shares last quarter. Finally, Wolverine Asset Management LLC increased its stake in Park Hotels & Resorts by 172.3% in the 1st quarter. Wolverine Asset Management LLC now owns 61,039 shares of the financial services provider valued at $1,192,000 after acquiring an additional 38,625 shares last quarter. Hedge funds and other institutional investors hold 90.60% of the company’s shares.
Insider Trading at Park Hotels & Resorts
In other Park Hotels & Resorts news, Director Thomas D. Eckert purchased 10,000 shares of the company in a trade dated Tuesday, June 14. The stock was purchased at an average price of $15.12 per share, for a total transaction of $151,200.00. Following the completion of the acquisition, the administrator now directly owns 96,637 shares of the company, valued at $1,461,151.44. The purchase was disclosed in a filing with the SEC, accessible via the SEC’s website. Company insiders own 1.09% of the company’s shares.
Changes to analyst ratings
Several equity research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft raised its price target on Park Hotels & Resorts from $26.00 to $28.00 in a Tuesday, May 3 research note. Truist Financial downgraded Park Hotels & Resorts from a “hold” rating to a “buy” rating and raised its price target for the business from $19.00 to $22.00 in a Wednesday research note June 1st. Barclays lowered its price target on Park Hotels & Resorts from $22.00 to $18.00 and set an “equal weight” rating for the company in a Thursday July 7 research note. StockNews.com upgraded Park Hotels & Resorts from a “sell” rating to a “holding” rating in a Friday, August 5 research note. Finally, Evercore ISI reissued an “online” note and posted a $22.50 price target on Park Hotels & Resorts stock in a research note on Monday, July 11. One financial analyst assigned the stock a sell rating, nine assigned a hold rating and one assigned the company’s stock a buy rating. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $20.83.
Park Hotels & Resorts Stock up 0.6%
PK opened at $16.05 on Friday. The company has a 50-day moving average price of $14.94 and a 200-day moving average price of $17.36. Park Hotels & Resorts Inc. has a 12-month low of $12.90 and a 12-month high of $21.62. The company has a debt ratio of 1.09, a quick ratio of 3.26 and a current ratio of 3.26. The company has a market capitalization of $3.75 billion, a P/E ratio of -72.95 and a beta of 1.94.
Park Hotels & Resorts announces dividend
The company also recently declared a quarterly dividend, which was paid on Friday, July 15. Shareholders of record on Thursday, June 30 received a dividend of $0.01 per share. The ex-dividend date was Wednesday, June 29. This represents a dividend of $0.04 on an annualized basis and a dividend yield of 0.25%. Park Hotels & Resorts’ dividend payout ratio (DPR) is currently -18.18%.
Profile of Park Hotels & Resorts
(Get a rating)
Park is the second-largest publicly traded accommodation REIT with a diversified portfolio of market-leading hotels and resorts with significant underlying real estate value. Park’s portfolio currently consists of 60 premium branded hotels and resorts with over 33,000 rooms primarily located in prime city centers and resorts.
Want to see which other hedge funds hold PK? Visit HoldingsChannel.com for the latest 13F filings and insider trading for Park Hotels & Resorts Inc. (NYSE:PK – Get Rating).
Receive daily news and reviews for Park Hotels & Resorts – Enter your email address below to receive a concise daily summary of breaking news and analyst ratings for Park Hotels & Resorts and related companies with MarketBeat.com’s free daily email newsletter.