Cascade Investment Advisors Inc. Sells 509 Shares of Park Hotels & Resorts Inc (PK)

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Cascade Investment Advisors Inc. trimmed its position in Park Hotels & Resorts Inc (NYSE:PK) by 1.3% during the first quarter, HoldingsChannel reports. The firm owned 37,911 shares of the financial services provider’s stock after selling 509 shares during the period. Cascade Investment Advisors Inc.’s holdings in Park Hotels & Resorts were worth $1,178,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Rehmann Capital Advisory Group lifted its holdings in shares of Park Hotels & Resorts by 110.2% during the 3rd quarter. Rehmann Capital Advisory Group now owns 807 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 423 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Park Hotels & Resorts by 1.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 54,509 shares of the financial services provider’s stock worth $1,416,000 after acquiring an additional 582 shares during the period. State of Alaska Department of Revenue lifted its holdings in shares of Park Hotels & Resorts by 0.9% during the 1st quarter. State of Alaska Department of Revenue now owns 88,060 shares of the financial services provider’s stock worth $2,735,000 after acquiring an additional 776 shares during the period. Pekin Singer Strauss Asset Management IL lifted its holdings in shares of Park Hotels & Resorts by 1.7% during the 4th quarter. Pekin Singer Strauss Asset Management IL now owns 50,300 shares of the financial services provider’s stock worth $1,307,000 after acquiring an additional 850 shares during the period. Finally, Robecosam AG lifted its holdings in shares of Park Hotels & Resorts by 28.6% during the 4th quarter. Robecosam AG now owns 4,500 shares of the financial services provider’s stock worth $116,000 after acquiring an additional 1,000 shares during the period.

Shares of NYSE:PK opened at $31.90 on Monday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.55 and a quick ratio of 1.55. Park Hotels & Resorts Inc has a 52-week low of $25.30 and a 52-week high of $34.27. The company has a market capitalization of $6.43 billion, a price-to-earnings ratio of 10.78, a PEG ratio of 2.16 and a beta of 1.28.

Park Hotels & Resorts (NYSE:PK) last issued its quarterly earnings data on Wednesday, February 27th. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.67 by ($0.40). Park Hotels & Resorts had a net margin of 17.25% and a return on equity of 8.29%. The firm had revenue of $686.00 million during the quarter, compared to analyst estimates of $659.09 million. During the same period last year, the business earned $0.68 EPS. The firm’s revenue was up .0% compared to the same quarter last year. On average, analysts anticipate that Park Hotels & Resorts Inc will post 2.95 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 29th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 5.64%. The ex-dividend date of this dividend is Thursday, March 28th. Park Hotels & Resorts’s dividend payout ratio (DPR) is 60.81%.

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