Park Hotels & Resorts Inc. (NYSE:PK – Get Free Report) was the recipient of some unusual options trading activity on Wednesday. Traders purchased 2,939 call options on the company. This represents an increase of 1,280% compared to the average daily volume of 213 call options.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Retirement Systems of Alabama grew its holdings in Park Hotels & Resorts by 0.3% during the 1st quarter. Retirement Systems of Alabama now owns 263,688 shares of the financial services provider’s stock valued at $4,612,000 after buying an additional 693 shares in the last quarter. Cascade Investment Advisors Inc. grew its stake in Park Hotels & Resorts by 1.1% during the fourth quarter. Cascade Investment Advisors Inc. now owns 66,222 shares of the financial services provider’s stock valued at $1,013,000 after acquiring an additional 725 shares in the last quarter. Signaturefd LLC increased its holdings in Park Hotels & Resorts by 12.7% during the 4th 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 period. Truist Financial Corp lifted its stake in Park Hotels & Resorts by 3.8% in the 4th quarter. Truist Financial Corp now owns 22,335 shares of the financial services provider’s stock worth $342,000 after purchasing an additional 816 shares in the last quarter. Finally, Spire Wealth Management boosted its holdings in Park Hotels & Resorts by 20.1% in the 3rd quarter. Spire Wealth Management now owns 5,145 shares of the financial services provider’s stock valued at $63,000 after purchasing an additional 860 shares during the period. 92.69% of the stock is currently owned by hedge funds and other institutional investors.
Park Hotels & Resorts Stock Performance
NYSE PK opened at $16.12 on Thursday. The company has a market capitalization of $3.39 billion, a price-to-earnings ratio of 36.64, a PEG ratio of 0.80 and a beta of 2.03. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 1.20. Park Hotels & Resorts has a twelve month low of $11.05 and a twelve month high of $18.05. The stock has a fifty day simple moving average of $16.75 and a 200 day simple moving average of $15.96.
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 the consensus estimate of $0.42 by ($0.17). Park Hotels & Resorts had a return on equity of 3.08% and a net margin of 3.42%. The firm had revenue of $639.00 million for the quarter, compared to analysts’ expectations of $630.46 million. Sell-side analysts expect that Park Hotels & Resorts will post 2.08 EPS for the current year.
Park Hotels & Resorts Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.20%. The ex-dividend date is Friday, June 28th. Park Hotels & Resorts’s payout ratio is 227.28%.
Wall Street Analyst Weigh In
A number of analysts have recently weighed in on the stock. 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 boosted their target price on shares of 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. UBS Group raised their price target on Park Hotels & Resorts from $14.00 to $18.00 and gave the company a “neutral” rating in a research report on Wednesday, March 6th. Barclays boosted their price objective on Park Hotels & Resorts from $19.00 to $21.00 and gave the stock an “overweight” rating in a research report on Friday, March 1st. Finally, Evercore ISI raised Park Hotels & Resorts from an “in-line” rating to an “outperform” rating and raised their target price for the company from $19.00 to $20.00 in a report on Wednesday, May 15th. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $17.50.
Read Our Latest Report on Park Hotels & Resorts
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.
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