Truist Financial Corp lifted its position in shares of Park Hotels & Resorts Inc. (NYSE:PK – Free Report) by 3.8% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 22,335 shares of the financial services provider’s stock after buying an additional 816 shares during the quarter. Truist Financial Corp’s holdings in Park Hotels & Resorts were worth $342,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. FNY Investment Advisers LLC acquired a new position in Park Hotels & Resorts in the 4th quarter valued at $42,000. Spire Wealth Management lifted 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 purchasing an additional 860 shares during the period. Covestor Ltd lifted 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 purchasing an additional 1,340 shares during the period. Signaturefd LLC grew its stake 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 buying an additional 727 shares in the last quarter. Finally, L2 Asset Management LLC bought a new position in Park Hotels & Resorts in the 3rd quarter valued at about $130,000. Institutional investors own 92.69% of the company’s stock.
Park Hotels & Resorts Stock Down 0.5 %
Shares of NYSE PK opened at $16.32 on Monday. The company has a 50 day simple moving average of $16.81 and a 200 day simple moving average of $15.88. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.48 and a quick ratio of 1.48. Park Hotels & Resorts Inc. has a 1 year low of $11.05 and a 1 year high of $18.05. The firm has a market cap of $3.44 billion, a PE ratio of 37.09, a price-to-earnings-growth ratio of 0.80 and a beta of 2.03.
Park Hotels & Resorts (NYSE:PK – Get Free Report) last announced 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 during the quarter, compared to analysts’ expectations of $665.16 million. Park Hotels & Resorts had a net margin of 3.42% and a return on equity of 3.08%. On average, research analysts forecast that Park Hotels & Resorts Inc. will post 2.08 EPS for the current year.
Park Hotels & Resorts Announces Dividend
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 given a $0.25 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.13%. Park Hotels & Resorts’s dividend payout ratio (DPR) is presently 227.28%.
Wall Street Analyst Weigh In
A number of analysts have recently weighed in on PK shares. Truist Financial upped their price target on shares of Park Hotels & Resorts from $20.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, March 14th. 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. UBS Group boosted their price target on Park Hotels & Resorts from $14.00 to $18.00 and gave the stock a “neutral” rating in a report on Wednesday, March 6th. Wells Fargo & Company upped their price objective 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 given a buy rating to the company’s stock. Based on data from MarketBeat.com, Park Hotels & Resorts presently has a consensus rating of “Hold” and a consensus target price of $17.50.
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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