Daiwa Securities Group Inc. Raises Holdings in Park Hotels & Resorts Inc (NYSE:PK)

Daiwa Securities Group Inc. boosted its position in Park Hotels & Resorts Inc (NYSE:PK) by 7.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,985,066 shares of the financial services provider’s stock after buying an additional 324,367 shares during the period. Park Hotels & Resorts makes up approximately 1.2% of Daiwa Securities Group Inc.’s investment portfolio, making the stock its 25th largest holding. Daiwa Securities Group Inc. owned 2.47% of Park Hotels & Resorts worth $137,388,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Enterprise Financial Services Corp raised its stake in shares of Park Hotels & Resorts by 132.0% during the 1st quarter. Enterprise Financial Services Corp now owns 819 shares of the financial services provider’s stock worth $25,000 after buying an additional 466 shares during the period. Meridian Wealth Management LLC acquired a new stake in shares of Park Hotels & Resorts during the 1st quarter worth about $32,000. Penserra Capital Management LLC acquired a new stake in shares of Park Hotels & Resorts during the 1st quarter worth about $56,000. NEXT Financial Group Inc raised its position in shares of Park Hotels & Resorts by 4,000.0% during the 2nd quarter. NEXT Financial Group Inc now owns 2,050 shares of the financial services provider’s stock worth $56,000 after acquiring an additional 2,000 shares in the last quarter. Finally, Glassman Wealth Services raised its position in shares of Park Hotels & Resorts by 2,073.3% during the 1st quarter. Glassman Wealth Services now owns 2,521 shares of the financial services provider’s stock worth $78,000 after acquiring an additional 2,405 shares in the last quarter.

Shares of NYSE:PK opened at $25.09 on Friday. The stock has a market capitalization of $5.32 billion, a P/E ratio of 8.48, a P/E/G ratio of 2.31 and a beta of 1.26. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.43 and a current ratio of 1.43. Park Hotels & Resorts Inc has a 52 week low of $24.89 and a 52 week high of $34.27. The firm has a fifty day simple moving average of $27.22.

Park Hotels & Resorts (NYSE:PK) last announced its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $0.40 EPS for the quarter, missing the Zacks’ consensus estimate of $0.82 by ($0.42). The business had revenue of $703.00 million during the quarter, compared to analysts’ expectations of $694.08 million. Park Hotels & Resorts had a net margin of 10.52% and a return on equity of 5.04%. Park Hotels & Resorts’s revenue for the quarter was down 3.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.93 EPS. Research analysts forecast that Park Hotels & Resorts Inc will post 2.92 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 7.17%. The ex-dividend date was Thursday, June 27th. Park Hotels & Resorts’s payout ratio is 60.81%.

Several equities research analysts have recently weighed in on the company. 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. TheStreet downgraded Park Hotels & Resorts from a “b-” rating to a “c” rating in a research note on Wednesday, June 5th. Zacks Investment Research upgraded Park Hotels & Resorts from a “sell” rating to a “hold” rating in a research note on Wednesday. Finally, Capital One Financial initiated coverage on Park Hotels & Resorts in a research note on Tuesday, June 25th. They issued an “overweight” rating and a $34.00 target price on the stock. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $33.00.

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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