Treasurer of the State of North Carolina Has $1.14 Million Stock Holdings in Park Hotels & Resorts Inc. (NYSE:PK)

Treasurer of the State of North Carolina grew its stake in Park Hotels & Resorts Inc. (NYSE:PK – Get Rating) by 1.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 96,741 shares of the financial services provider’s stock after buying an additional 1,230 shares during the period. Treasurer of the State of North Carolina’s holdings in Park Hotels & Resorts were worth $1,141,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Nomura Asset Management Co. Ltd. boosted its position in shares of Park Hotels & Resorts by 7.3% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 233,436 shares of the financial services provider’s stock valued at $2,628,000 after purchasing an additional 15,794 shares in the last quarter. AlphaCrest Capital Management LLC boosted its position in shares of Park Hotels & Resorts by 41.7% during the 3rd quarter. AlphaCrest Capital Management LLC now owns 239,382 shares of the financial services provider’s stock valued at $2,695,000 after purchasing an additional 70,466 shares in the last quarter. ExodusPoint Capital Management LP boosted its position in shares of Park Hotels & Resorts by 146.5% during the 3rd quarter. ExodusPoint Capital Management LP now owns 322,144 shares of the financial services provider’s stock valued at $3,627,000 after purchasing an additional 191,477 shares in the last quarter. Cipher Capital LP bought a new stake in shares of Park Hotels & Resorts during the 3rd quarter valued at about $1,011,000. Finally, Signaturefd LLC boosted its position in shares of Park Hotels & Resorts by 27.6% during the 4th quarter. Signaturefd LLC now owns 5,400 shares of the financial services provider’s stock valued at $64,000 after purchasing an additional 1,169 shares in the last quarter. Institutional investors and hedge funds own 89.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PK. TheStreet upgraded Park Hotels & Resorts from a “d+” rating to a “c” rating in a report on Wednesday, February 22nd. StockNews.com assumed coverage on Park Hotels & Resorts in a research note on Thursday. They set a “hold” rating for the company. Truist Financial lifted their price objective on Park Hotels & Resorts from $19.00 to $20.00 in a report on Tuesday, May 2nd. Citigroup lifted their price objective on Park Hotels & Resorts from $13.00 to $15.00 and gave the stock a “neutral” rating in a report on Wednesday, February 1st. Finally, Wells Fargo & Company downgraded Park Hotels & Resorts from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $17.00 to $12.50 in a report on Thursday, March 30th. Eight equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Park Hotels & Resorts has an average rating of “Hold” and an average price target of $17.55.

Park Hotels & Resorts Price Performance

NYSE PK opened at $13.55 on Friday. The firm’s fifty day simple moving average is $12.25 and its two-hundred day simple moving average is $12.65. 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 12-month low of $10.70 and a 12-month high of $19.47. The firm has a market capitalization of $2.92 billion, a P/E ratio of 12.21, a P/E/G ratio of 0.74 and a beta of 1.96.

Park Hotels & Resorts (NYSE:PK – Get Rating) last announced its quarterly earnings data on Monday, May 1st. The financial services provider reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.17). The firm had revenue of $648.00 million during the quarter, compared to analyst estimates of $617.04 million. Park Hotels & Resorts had a net margin of 9.44% and a return on equity of 5.90%. The firm’s revenue for the quarter was up 35.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.08 earnings per share. Analysts forecast that Park Hotels & Resorts Inc. will post 1.93 EPS 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. Shareholders of record on Friday, March 31st were given a dividend of $0.15 per share. The ex-dividend date was Thursday, March 30th. This represents a $0.60 dividend on an annualized basis and a yield of 4.43%. Park Hotels & Resorts’s dividend payout ratio is currently 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.