Dimensional Fund Advisors LP decreased its holdings in Park Hotels & Resorts Inc. (NYSE:PK – Get Rating) by 4.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,908,699 shares of the financial services provider’s stock after selling 148,720 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Park Hotels & Resorts were worth $34,293,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in the business. Treasurer of the State of North Carolina boosted its position in shares of Park Hotels & Resorts by 1.3% in the 4th quarter. Treasurer of the State of North Carolina now owns 96,741 shares of the financial services provider’s stock worth $1,141,000 after purchasing an additional 1,230 shares in the last quarter. HighTower Advisors LLC raised its stake in Park Hotels & Resorts by 35.9% in the 4th quarter. HighTower Advisors LLC now owns 25,685 shares of the financial services provider’s stock worth $305,000 after acquiring an additional 6,790 shares during the last quarter. Coombe Bender & Co LLC raised its stake in Park Hotels & Resorts by 2.3% in the 4th quarter. Coombe Bender & Co LLC now owns 269,042 shares of the financial services provider’s stock worth $3,172,000 after acquiring an additional 6,082 shares during the last quarter. Van ECK Associates Corp raised its stake in Park Hotels & Resorts by 79.9% in the 4th quarter. Van ECK Associates Corp now owns 23,250 shares of the financial services provider’s stock worth $274,000 after acquiring an additional 10,326 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its stake in Park Hotels & Resorts by 2.4% in the 4th quarter. Russell Investments Group Ltd. now owns 482,138 shares of the financial services provider’s stock worth $5,684,000 after acquiring an additional 11,212 shares during the last quarter. Institutional investors and hedge funds own 89.42% of the company’s stock.
Wall Street Analyst Weigh In
A number of equity analysts recently issued reports on the company. Truist Financial raised their target price on Park Hotels & Resorts from $19.00 to $20.00 in a research note on Tuesday, May 2nd. Deutsche Bank Aktiengesellschaft lifted their price objective on Park Hotels & Resorts from $20.00 to $21.00 in a research note on Tuesday, May 2nd. TheStreet upgraded Park Hotels & Resorts from a “d+” rating to a “c” rating in a research note on Wednesday, February 22nd. Morgan Stanley reduced their price objective on Park Hotels & Resorts from $14.00 to $13.00 and set an “equal weight” rating for the company in a research note on Monday, April 17th. Finally, Wells Fargo & Company cut Park Hotels & Resorts from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $17.00 to $12.50 in a research report on Thursday, March 30th. Eight investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $17.55.
Park Hotels & Resorts Trading Up 0.4 %
PK stock opened at $12.99 on Friday. The company has a current ratio of 3.05, a quick ratio of 3.05 and a debt-to-equity ratio of 1.09. Park Hotels & Resorts Inc. has a 12-month low of $10.70 and a 12-month high of $19.47. The stock has a market cap of $2.80 billion, a price-to-earnings ratio of 11.70, a PEG ratio of 0.70 and a beta of 1.95. The business’s 50-day moving average is $12.46 and its 200 day moving average is $12.70.
Park Hotels & Resorts (NYSE:PK – Get Rating) last issued its earnings results on Monday, May 1st. The financial services provider reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.17). The company had revenue of $648.00 million for the quarter, compared to analyst estimates of $617.04 million. Park Hotels & Resorts has a return on equity of 5.90% and a net margin of 9.44%. The company’s revenue for the quarter was up 35.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.08 earnings per share. On average, sell-side analysts anticipate that Park Hotels & Resorts Inc. will post 1.93 EPS for the current fiscal year.
Park Hotels & Resorts Cuts Dividends
The business also recently announced a quarterly dividend, which was paid on Monday, April 17th. Stockholders of record on Friday, March 31st were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 4.62%. The ex-dividend date of this dividend was Thursday, March 30th. Park Hotels & Resorts’s dividend payout ratio is currently 54.05%.
Park Hotels & Resorts Profile
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Park Hotels & Resorts, Inc operates as a real estate investment trust, which owns and operates hotels and resorts. It operates through the Consolidated Hotels and Unconsolidated Hotels segments. Its portfolio of hotels and resorts includes the Waldorf Astoria Hotels and Resorts, Conrad Hotels & Resorts, Hilton Hotels & Resorts, DoubleTree by Hilton, Embassy Suites by Hilton, Hilton Garden Inn, Hampton by Hilton, and Curio.
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