Sun Sep 15 11:46:51 UTC 2024: ## Institutional Investors Show Growing Interest in Park Hotels & Resorts
**New York, NY (MarketBeat News)** – Acadian Asset Management LLC significantly increased its stake in Park Hotels & Resorts Inc. (NYSE:PK) during the second quarter, highlighting a growing trend of institutional interest in the lodging REIT. The fund now holds 104,680 shares, representing a 92.6% increase from the previous quarter.
Other notable investors include Norges Bank, which acquired a new position in Park Hotels & Resorts worth $31.745 million during the fourth quarter. Additionally, Los Angeles Capital Management LLC, SG Americas Securities LLC, and Epoch Investment Partners Inc. all significantly increased their holdings in the company during recent quarters. Currently, 92.69% of Park Hotels & Resorts’ stock is owned by institutional investors.
Analysts have mixed opinions on the company’s future prospects. While some analysts have lowered their price targets, others have maintained or even raised theirs. Overall, the consensus rating for the stock is “Hold” with a price target of $16.96.
Park Hotels & Resorts’ recent quarterly earnings report showed a miss on EPS expectations, but revenue exceeded analyst forecasts. The company also announced a quarterly dividend of $0.25 per share, representing a dividend yield of 7.12%.
Park Hotels & Resorts is a leading lodging REIT with a diverse portfolio of premium-branded hotels and resorts. With over 26,000 rooms in prime locations, the company boasts significant underlying real estate value.
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