Mitsubishi UFJ Asset Management Co. Ltd. lowered its position in shares of Park Hotels & Resorts Inc. (NYSE:PK – Free Report) by 2.2% during the fourth quarter, Holdings Channel reports. The fund owned 128,389 shares of the financial services provider’s stock after selling 2,913 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Park Hotels & Resorts were worth $1,986,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of PK. FNY Investment Advisers LLC acquired a new stake in Park Hotels & Resorts during the fourth quarter worth approximately $42,000. Spire Wealth Management boosted its position in Park Hotels & Resorts by 20.1% during the third quarter. Spire Wealth Management now owns 5,145 shares of the financial services provider’s stock worth $63,000 after acquiring an additional 860 shares during the last quarter. Covestor Ltd boosted its position in Park Hotels & Resorts by 31.5% during the third quarter. Covestor Ltd now owns 5,596 shares of the financial services provider’s stock worth $69,000 after acquiring an additional 1,340 shares during the last quarter. Signaturefd LLC boosted its position in Park Hotels & Resorts by 12.7% during the fourth quarter. Signaturefd LLC now owns 6,437 shares of the financial services provider’s stock worth $98,000 after acquiring an additional 727 shares during the last quarter. Finally, L2 Asset Management LLC acquired a new stake in Park Hotels & Resorts during the third quarter worth approximately $130,000. Institutional investors and hedge funds own 92.69% of the company’s stock.
Wall Street Analysts Forecast Growth
PK has been the topic of a number of analyst reports. StockNews.com upgraded shares of Park Hotels & Resorts from a “sell” rating to a “hold” rating in a research report on Wednesday, May 1st. Citigroup raised shares of Park Hotels & Resorts from a “neutral” rating to a “buy” rating and increased their price target for the stock from $14.00 to $20.00 in a research note on Friday, March 22nd. Truist Financial increased their price target 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. Barclays increased their price target on shares of Park Hotels & Resorts from $19.00 to $21.00 and gave the stock an “overweight” rating in a research note on Friday, March 1st. Finally, UBS Group increased their price target on shares of Park Hotels & Resorts from $14.00 to $18.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 6th. Seven research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $17.50.
Check Out Our Latest Stock Analysis on PK
Park Hotels & Resorts Stock Performance
Shares of PK stock opened at $16.24 on Tuesday. The company’s fifty day simple moving average is $16.81 and its 200-day simple moving average is $15.92. The company has a market cap of $3.42 billion, a PE ratio of 36.91, a P/E/G ratio of 0.80 and a beta of 2.03. Park Hotels & Resorts Inc. has a 52 week low of $11.05 and a 52 week high of $18.05. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 1.20.
Park Hotels & Resorts (NYSE:PK – Get Free Report) last released its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.17). The firm had revenue of $639.00 million for the quarter, compared to analyst estimates of $630.46 million. Park Hotels & Resorts had a net margin of 3.42% and a return on equity of 3.08%. As a group, equities research analysts anticipate that Park Hotels & Resorts Inc. will post 2.08 EPS for the current year.
Park Hotels & Resorts Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 6.16%. The ex-dividend date of this dividend is Friday, June 28th. Park Hotels & Resorts’s payout ratio is 227.28%.
About Park Hotels & Resorts
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.
Recommended Stories
Want to see what other hedge funds are holding PK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Park Hotels & Resorts Inc. (NYSE:PK – Free Report).
Receive News & Ratings for Park Hotels & Resorts Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Park Hotels & Resorts and related companies with MarketBeat.com’s FREE daily email newsletter.
This post was originally published on 3rd party site mentioned in the title of this site
