82,135 Shares in Park Hotels & Resorts Inc (NYSE:PK) Acquired by Cornerstone Capital Management Holdings LLC.

Cornerstone Capital Management Holdings LLC. bought a new stake in Park Hotels & Resorts Inc (NYSE:PK) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 82,135 shares of the financial services provider’s stock, valued at approximately $2,262,000.

Several other institutional investors and hedge funds have also made changes to their positions in PK. Vanguard Group Inc. raised its position in shares of Park Hotels & Resorts by 15.1% during the 2nd quarter. Vanguard Group Inc. now owns 22,577,650 shares of the financial services provider’s stock valued at $608,693,000 after acquiring an additional 2,963,035 shares in the last quarter. BlackRock Inc. raised its position in shares of Park Hotels & Resorts by 57.5% during the 2nd quarter. BlackRock Inc. now owns 9,743,370 shares of the financial services provider’s stock valued at $262,679,000 after acquiring an additional 3,558,810 shares in the last quarter. Cohen & Steers Inc. raised its position in shares of Park Hotels & Resorts by 0.8% during the 3rd quarter. Cohen & Steers Inc. now owns 7,496,035 shares of the financial services provider’s stock valued at $206,591,000 after acquiring an additional 57,774 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Park Hotels & Resorts by 18.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,507,881 shares of the financial services provider’s stock valued at $179,554,000 after acquiring an additional 1,019,139 shares in the last quarter. Finally, Cbre Clarion Securities LLC raised its position in shares of Park Hotels & Resorts by 883.4% during the 2nd quarter. Cbre Clarion Securities LLC now owns 6,037,093 shares of the financial services provider’s stock valued at $162,760,000 after acquiring an additional 5,423,181 shares in the last quarter. 99.13% of the stock is currently owned by institutional investors.

PK has been the topic of several research reports. Nomura upped their price target on Park Hotels & Resorts from $32.00 to $33.00 and gave the company a “buy” rating in a research report on Monday, November 6th. Boenning Scattergood restated a “buy” rating on shares of Park Hotels & Resorts in a research note on Monday, November 6th. SunTrust Banks upgraded Park Hotels & Resorts from a “hold” rating to a “buy” rating in a research note on Thursday, December 21st. Evercore ISI upgraded Park Hotels & Resorts from an “in-line” rating to an “outperform” rating in a research note on Monday, December 4th. Finally, Zacks Investment Research downgraded Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research note on Saturday, December 30th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $36.08.

Shares of Park Hotels & Resorts Inc (NYSE:PK) traded down $0.14 on Friday, reaching $28.95. The company had a trading volume of 1,246,605 shares, compared to its average volume of 1,453,722. Park Hotels & Resorts Inc has a 52-week low of $24.65 and a 52-week high of $29.90. The company has a market cap of $6,180.00 and a P/E ratio of 2.41. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.26 and a current ratio of 1.26.

Park Hotels & Resorts (NYSE:PK) last released its quarterly earnings results on Thursday, November 2nd. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.01. Park Hotels & Resorts had a return on equity of 6.75% and a net margin of 15.26%. The company had revenue of $688.00 million during the quarter, compared to analysts’ expectations of $676.76 million. During the same quarter in the prior year, the business posted $0.66 earnings per share. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. equities analysts predict that Park Hotels & Resorts Inc will post 2.73 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th will be paid a $0.55 dividend. This is a boost from Park Hotels & Resorts’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $2.20 annualized dividend and a dividend yield of 7.60%. Park Hotels & Resorts’s dividend payout ratio is presently 18.32%.

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About Park Hotels & Resorts

Park Hotels & Resorts Inc is a lodging real estate company. The Company has a portfolio of hotels and resorts. The Company operates through ownership segment, which includes all of its hotel properties. As of December 31, 2016, the Company’s portfolio consisted of 67 hotels and resorts with over 35,000 rooms located in the United States and international markets.

Institutional Ownership by Quarter for Park Hotels & Resorts (NYSE:PK)

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