Texas Teachers’ Retirement System acquires 2,907 shares of Park Hotels & Resorts Inc. (NYSE: PK)


Teacher Retirement System of Texas increased its equity stake in Park Hotels & Resorts Inc. (NYSE: P.K.Get a rating) by 6.3% during the 1st quarter, according to its last Form 13F filed with the Securities and Exchange Commission (SEC). The institutional investor held 48,882 shares of the financial services provider after acquiring an additional 2,907 shares during the period. The Teacher Retirement System of Texas holdings in Park Hotels & Resorts were worth $955,000 at the end of the last reporting period.

Several other hedge funds also bought and sold shares of PK. JPMorgan Chase & Co. increased its stake in Park Hotels & Resorts by 45.0% during the fourth quarter. JPMorgan Chase & Co. now owns 5,416,035 shares of the financial services provider worth $102,254,000 after acquiring 1,680,145 additional shares in the last quarter. Lasalle Investment Management Securities LLC acquired a new stake in Park Hotels & Resorts during the fourth quarter valued at approximately $31,634,000. Cbre Investment Management Listed Real Assets LLC increased its stake in Park Hotels & Resorts by 122.5% during the first quarter. Cbre Investment Management Listed Real Assets LLC now owns 2,843,147 shares of the financial services provider worth $55,527,000 after acquiring an additional 1,565,418 shares in the last quarter. Bank of Montreal Can increased its stake in Park Hotels & Resorts by 1,839.9% during the fourth quarter. Bank of Montreal Can now owns 1,511,246 shares of the financial services provider worth $28,714,000 after acquiring an additional 1,433,344 shares last quarter. Finally, Vulcan Value Partners LLC increased its stake in Park Hotels & Resorts by 21.4% during the fourth quarter. Vulcan Value Partners LLC now owns 4,880,421 shares of the financial services provider worth $92,142,000 after acquiring an additional 860,175 shares in the last quarter. Institutional investors hold 90.60% of the company’s shares.

Park Hotels & Resorts Stock up 0.5%

Shares of PK-Action opened at $15.59 on Friday. Park Hotels & Resorts Inc. has a 12 month minimum of $12.90 and a 12 month maximum of $21.62. The stock has a market capitalization of $3.64 billion, a P/E ratio of -70.86 and a beta of 1.94. The company has a current ratio of 3.26, a quick ratio of 3.26 and a debt ratio of 1.09. The company has a 50-day simple moving average of $14.74 and a two-hundred-day simple moving average of $17.33.

Park Hotels & Resorts announces dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 15. Shareholders of record on Thursday, June 30 received a dividend of $0.01 per share. The ex-dividend date was Wednesday, June 29. This represents a dividend of $0.04 on an annualized basis and a yield of 0.26%. Park Hotels & Resorts’ dividend payout ratio is currently -18.18%.

A Wall Street analyst gives his opinion

Several research analysts have recently published reports on PK shares. Sumitomo Mitsui Financial Group downgraded shares of Park Hotels & Resorts from an “outperform” rating to a “neutral” rating and set a target price of $16.00 for the stock. in a Monday August 8 research note. BMO Capital Markets downgraded shares of Park Hotels & Resorts from an “outperforming” rating to a “market performance” rating and lowered its target price for the stock from $21.00 to $18.00 in a research note on Tuesday. Truist Financial upgraded shares of Park Hotels & Resorts from a “hold” rating to a “buy” rating and raised its target price for the stock from $19.00 to $22.00 in a rating of research from Wednesday, June 1st. Deutsche Bank Aktiengesellschaft raised its price target on shares of Park Hotels & Resorts from $26.00 to $28.00 in a Tuesday, May 3 research note. Finally, Barclays lowered its price target on shares of Park Hotels & Resorts from $22.00 to $18.00 and set an “equal weight” rating on the stock in a Thursday July 7 research note. . One research analyst has assigned the stock a sell rating, ten have assigned a hold rating and one has assigned the stock a buy rating. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $20.55.

Insider Buying and Selling at Park Hotels & Resorts

In other news, Director Thomas D. Eckert acquired 10,000 shares of Park Hotels & Resorts in a transaction dated Tuesday, June 14. The shares were purchased at an average cost of $15.12 per share, with a total value of $151,200.00. Following the completion of the purchase, the administrator now directly owns 96,637 shares of the company, valued at approximately $1,461,151.44. The transaction was disclosed in an SEC filing, which is available via the SEC website. 1.09% of the shares are held by insiders.

About Park Hotels & Resorts

(Get a rating)

Park is the second-largest publicly traded accommodation REIT with a diversified portfolio of market-leading hotels and resorts with significant underlying real estate value. Park’s portfolio currently consists of 60 premium branded hotels and resorts with over 33,000 rooms primarily located in prime city centers and resorts.

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Want to see which other hedge funds hold PK? Visit HoldingsChannel.com for the latest 13F filings and insider trading for Park Hotels & Resorts Inc. (NYSE: P.K.Get a rating).

Institutional ownership by quarter for Park Hotels & Resorts (NYSE:PK)



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