Teachers Insurance & Annuity Association of America Reduces Stock Holdings in Park Hotels & Resorts Inc (NYSE:PK)

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Teachers Insurance & Annuity Association of America lowered its stake in shares of Park Hotels & Resorts Inc (NYSE:PK) by 61.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 72,876 shares of the financial services provider’s stock after selling 114,117 shares during the quarter. Teachers Insurance & Annuity Association of America’s holdings in Park Hotels & Resorts were worth $2,008,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the business. Comerica Bank lifted its stake in shares of Park Hotels & Resorts by 3.6% in the 1st quarter. Comerica Bank now owns 9,505 shares of the financial services provider’s stock worth $303,000 after acquiring an additional 328 shares during the period. Robecosam AG raised its holdings in Park Hotels & Resorts by 7.4% during the second quarter. Robecosam AG now owns 5,800 shares of the financial services provider’s stock worth $159,000 after purchasing an additional 400 shares in the last quarter. Advisory Services Network LLC raised its holdings in Park Hotels & Resorts by 68.5% during the second quarter. Advisory Services Network LLC now owns 1,436 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 584 shares in the last quarter. Advisor Group Inc. raised its holdings in Park Hotels & Resorts by 34.2% during the second quarter. Advisor Group Inc. now owns 2,375 shares of the financial services provider’s stock worth $66,000 after purchasing an additional 605 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its position in Park Hotels & Resorts by 1.9% in the second quarter. Oppenheimer Asset Management Inc. now owns 44,157 shares of the financial services provider’s stock valued at $1,217,000 after purchasing an additional 838 shares during the period.

PK stock traded up $0.49 during trading on Wednesday, reaching $25.78. 131,982 shares of the company were exchanged, compared to its average volume of 1,633,890. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.74 and a current ratio of 1.74. The stock’s 50 day moving average price is $24.51 and its 200 day moving average price is $28.54. Park Hotels & Resorts Inc has a 52-week low of $23.02 and a 52-week high of $33.81. The company has a market cap of $5.13 billion, a P/E ratio of 8.71, a PEG ratio of 2.24 and a beta of 1.31.

Park Hotels & Resorts (NYSE:PK) last posted its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.82 by ($0.42). The company had revenue of $703.00 million for the quarter, compared to analyst estimates of $694.08 million. Park Hotels & Resorts had a net margin of 10.52% and a return on equity of 5.06%. Park Hotels & Resorts’s revenue was down 3.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.93 earnings per share. As a group, equities research analysts forecast that Park Hotels & Resorts Inc will post 2.87 EPS for the current year.

Several equities analysts have issued reports on PK shares. Deutsche Bank set a $33.00 target price on Park Hotels & Resorts and gave the stock a “hold” rating in a research report on Wednesday, July 31st. UBS Group set a $24.00 price target on Park Hotels & Resorts and gave the company a “hold” rating in a report on Friday, August 16th. Citigroup decreased their price target on Park Hotels & Resorts from $31.00 to $25.00 and set a “neutral” rating on the stock in a research note on Thursday, September 5th. Capital One Financial started coverage on Park Hotels & Resorts in a report on Tuesday, June 25th. They set an “overweight” rating and a $34.00 price objective on the stock. Finally, Zacks Investment Research upgraded Park Hotels & Resorts from a “sell” rating to a “hold” rating in a research report on Friday, September 6th. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $30.80.

Park Hotels & Resorts 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 52 premium-branded hotels and resorts with over 30,000 rooms, a substantial portion 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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