Charles Schwab Investment Management Inc. raised its holdings in Park Hotels & Resorts Inc. (NYSE:PK – Free Report) by 0.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,741,521 shares of the financial services provider’s stock after purchasing an additional 13,473 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.31% of Park Hotels & Resorts worth $41,945,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of PK. Donald Smith & CO. Inc. lifted its stake in Park Hotels & Resorts by 36.0% in the 4th quarter. Donald Smith & CO. Inc. now owns 6,529,666 shares of the financial services provider’s stock valued at $99,904,000 after purchasing an additional 1,728,921 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of Park Hotels & Resorts by 3,694.6% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 1,355,522 shares of the financial services provider’s stock valued at $20,739,000 after acquiring an additional 1,319,800 shares in the last quarter. abrdn plc grew its position in Park Hotels & Resorts by 1,893.0% during the 4th quarter. abrdn plc now owns 915,866 shares of the financial services provider’s stock worth $14,013,000 after acquiring an additional 869,913 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its holdings in Park Hotels & Resorts by 200.0% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 900,000 shares of the financial services provider’s stock worth $11,088,000 after purchasing an additional 600,000 shares in the last quarter. Finally, UBS Group AG boosted its stake in shares of Park Hotels & Resorts by 548.2% during the third quarter. UBS Group AG now owns 552,839 shares of the financial services provider’s stock valued at $6,811,000 after purchasing an additional 467,554 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.
Analyst Upgrades and Downgrades
Several research analysts have recently issued reports on PK shares. Evercore ISI raised Park Hotels & Resorts from an “in-line” rating to an “outperform” rating and upped their price objective for the company from $19.00 to $20.00 in a research note on Wednesday, May 15th. Citigroup raised shares of Park Hotels & Resorts from a “neutral” rating to a “buy” rating and raised their price target for the company from $14.00 to $20.00 in a research note on Friday, March 22nd. Truist Financial boosted their price objective on shares of Park Hotels & Resorts from $20.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday, March 14th. Wells Fargo & Company raised their target price on Park Hotels & Resorts from $17.00 to $18.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 21st. Finally, StockNews.com upgraded Park Hotels & Resorts from a “sell” rating to a “hold” rating in a research report on Wednesday, May 1st. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $17.50.
Get Our Latest Research Report on PK
Park Hotels & Resorts Stock Down 0.5 %
Shares of NYSE:PK opened at $16.32 on Monday. Park Hotels & Resorts Inc. has a 1 year low of $11.05 and a 1 year high of $18.05. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.48 and a quick ratio of 1.48. The business’s 50-day moving average is $16.81 and its 200-day moving average is $15.88. The company has a market capitalization of $3.44 billion, a price-to-earnings ratio of 37.09, a P/E/G ratio of 0.80 and a beta of 2.03.
Park Hotels & Resorts (NYSE:PK – Get Free Report) last issued its quarterly earnings results on Tuesday, February 27th. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.39. The firm had revenue of $657.00 million for the quarter, compared to analyst estimates of $665.16 million. Park Hotels & Resorts had a return on equity of 3.08% and a net margin of 3.42%. Equities research analysts predict that Park Hotels & Resorts Inc. will post 2.08 earnings per share for the current year.
Park Hotels & Resorts Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 6.13%. The ex-dividend date of this dividend is Friday, June 28th. Park Hotels & Resorts’s payout ratio is 227.28%.
Park Hotels & Resorts Company Profile
Park is one of the largest publicly traded lodging REITs with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value. Park’s portfolio currently consists of 43 premium-branded hotels and resorts with over 26,000 rooms primarily located in prime city center and resort locations.
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