Neuberger Berman Group LLC Has $7.06 Million Holdings in Park Hotels & Resorts Inc. (PK)

Neuberger Berman Group LLC trimmed its stake in Park Hotels & Resorts Inc. (NYSE:PK) by 41.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 256,219 shares of the financial services provider’s stock after selling 178,669 shares during the period. Neuberger Berman Group LLC owned about 0.12% of Park Hotels & Resorts worth $7,061,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in PK. Cbre Clarion Securities LLC boosted its stake in Park Hotels & Resorts by 883.4% in the second quarter. Cbre Clarion Securities LLC now owns 6,037,093 shares of the financial services provider’s stock worth $162,760,000 after purchasing an additional 5,423,181 shares in the last quarter. Southeastern Asset Management Inc. TN acquired a new position in Park Hotels & Resorts in the second quarter worth $110,520,000. BlackRock Inc. boosted its stake in Park Hotels & Resorts by 57.5% in the second quarter. BlackRock Inc. now owns 9,743,370 shares of the financial services provider’s stock worth $262,679,000 after purchasing an additional 3,558,810 shares in the last quarter. Vanguard Group Inc. boosted its stake in Park Hotels & Resorts by 15.1% in the second quarter. Vanguard Group Inc. now owns 22,577,650 shares of the financial services provider’s stock worth $608,693,000 after purchasing an additional 2,963,035 shares in the last quarter. Finally, State Street Corp boosted its stake in Park Hotels & Resorts by 137.0% in the second quarter. State Street Corp now owns 3,664,272 shares of the financial services provider’s stock worth $98,791,000 after purchasing an additional 2,118,313 shares in the last quarter. Hedge funds and other institutional investors own 99.13% of the company’s stock.

Park Hotels & Resorts Inc. (PK) opened at $29.15 on Thursday. 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 Inc. has a one year low of $24.65 and a one year high of $31.46. The stock has a market capitalization of $6,260.00 and a price-to-earnings ratio of 2.43.

Park Hotels & Resorts (NYSE:PK) last issued its quarterly earnings results on Thursday, November 2nd. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.01. Park Hotels & Resorts had a return on equity of 46.66% and a net margin of 93.04%. The business had revenue of $688.00 million for the quarter, compared to analyst estimates of $676.76 million. During the same quarter in the prior year, the firm posted $0.66 earnings per share. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. analysts forecast that Park Hotels & Resorts Inc. will post 2.74 EPS for the current fiscal year.

The company 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 dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 7.55%. The ex-dividend date of this dividend is Thursday, December 28th. This is a positive change from Park Hotels & Resorts’s previous quarterly dividend of $0.43. Park Hotels & Resorts’s dividend payout ratio is 14.32%.

PK has been the topic of a number of recent analyst reports. Boenning Scattergood set a $29.00 price objective on Park Hotels & Resorts and gave the stock a “buy” rating in a research note on Wednesday, October 18th. Nomura boosted their price objective on Park Hotels & Resorts from $32.00 to $33.00 and gave the stock a “buy” rating in a research note on Monday, November 6th. Evercore ISI raised Park Hotels & Resorts from an “in-line” rating to an “outperform” rating in a research note on Monday, December 4th. Finally, SunTrust Banks raised Park Hotels & Resorts from a “hold” rating to a “buy” rating in a research note on Thursday, December 21st. Nine research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $34.87.

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Park Hotels & Resorts Profile

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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