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

Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Park Hotels & Resorts Inc. (NYSE:PK) 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) 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.