Texas Permanent School Fund Decreases Holdings in Park Hotels & Resorts Inc. (NYSE:PK)

Texas Permanent School Fund reduced its position in Park Hotels & Resorts Inc. (NYSE:PK – Get Rating) by 6.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 150,971 shares of the financial services provider’s stock after selling 10,469 shares during the quarter. Texas Permanent School Fund owned 0.07% of Park Hotels & Resorts worth $1,780,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PK. Wipfli Financial Advisors LLC bought a new position in shares of Park Hotels & Resorts during the third quarter valued at approximately $45,000. Signaturefd LLC lifted its stake in shares of Park Hotels & Resorts by 27.6% during the fourth quarter. Signaturefd LLC now owns 5,400 shares of the financial services provider’s stock worth $64,000 after buying an additional 1,169 shares during the period. Hollencrest Capital Management purchased a new position in shares of Park Hotels & Resorts during the fourth quarter worth $85,000. Captrust Financial Advisors purchased a new position in shares of Park Hotels & Resorts during the second quarter worth $104,000. Finally, Diversified Trust Co purchased a new position in shares of Park Hotels & Resorts during the fourth quarter worth $131,000. 89.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Citigroup boosted their price target on shares of Park Hotels & Resorts from $13.00 to $15.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 1st. Morgan Stanley lowered their price target on shares of Park Hotels & Resorts from $14.00 to $13.00 and set an “equal weight” rating for the company in a report on Monday, April 17th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Park Hotels & Resorts from $20.00 to $21.00 in a report on Tuesday, May 2nd. Wells Fargo & Company cut shares of Park Hotels & Resorts from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $17.00 to $12.50 in a research note on Thursday, March 30th. Finally, TheStreet upgraded shares of Park Hotels & Resorts from a “d+” rating to a “c” rating in a research note on Wednesday, February 22nd. Eight investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $17.55.

Park Hotels & Resorts Stock Performance

NYSE:PK opened at $13.36 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 twelve month low of $10.70 and a twelve month high of $19.47. The firm has a market cap of $2.88 billion, a price-to-earnings ratio of 12.04, a price-to-earnings-growth ratio of 0.72 and a beta of 1.96. The company has a 50-day moving average of $12.27 and a 200-day moving average of $12.62.

Park Hotels & Resorts (NYSE:PK – Get Rating) last released its quarterly earnings data on Monday, May 1st. The financial services provider reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.17). Park Hotels & Resorts had a return on equity of 5.90% and a net margin of 9.44%. The firm had revenue of $648.00 million during the quarter, compared to analyst estimates of $617.04 million. During the same quarter in the prior year, the company posted $0.08 EPS. The company’s quarterly revenue was up 35.3% on a year-over-year basis. Analysts forecast that Park Hotels & Resorts Inc. will post 1.93 earnings per share for the current fiscal year.

Park Hotels & Resorts Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 17th. Investors of record on Friday, March 31st were issued a $0.15 dividend. The ex-dividend date of this dividend was Thursday, March 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.49%. Park Hotels & Resorts’s dividend payout ratio is 54.05%.

Park Hotels & Resorts Company 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 include 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.