Park Hotels & Resorts Inc. (NYSE:PK) Institutional Investors Increase Holdings
Mitsubishi UFJ Trust & Banking Corp Increases Holdings in Park Hotels & Resorts Inc.
In a recent filing with the SEC, Mitsubishi UFJ Trust & Banking Corp revealed a significant increase in its holdings of Park Hotels & Resorts Inc. The financial services provider boosted its holdings by 495.5% in the first quarter, acquiring an additional 9,673 shares and bringing its total to 11,625 shares valued at $204,000.
This move by Mitsubishi UFJ Trust & Banking Corp is part of a larger trend, with several other institutional investors and hedge funds also increasing their stakes in Park Hotels & Resorts. Jupiter Asset Management Ltd. saw a 337.0% increase in its holdings, while State Board of Administration of Florida Retirement System and Russell Investments Group Ltd. also added to their positions.
Park Hotels & Resorts has been performing well in the market, with a current stock price of $14.93. The company’s market capitalization stands at $3.14 billion, with a P/E ratio of 33.92 and a beta of 2.03. Despite missing analysts’ earnings estimates in its latest report, Park Hotels & Resorts remains a strong player in the industry.
Analysts have mixed opinions on the stock, with some reiterating a “hold” rating while others have upgraded it to “outperform” or “buy.” Overall, Park Hotels & Resorts has a consensus rating of “Hold” with an average price target of $17.83.
Park Hotels & Resorts is one of the largest publicly traded lodging REITs, with a diverse portfolio of premium-branded hotels and resorts. The company’s portfolio includes 43 properties with over 26,000 rooms in prime city center and resort locations.
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