Rhumbline Advisers Sells 7,999 Shares of Park Hotels & Resorts Inc. (NYSE:PK)

Rhumbline Advisers decreased its holdings in Park Hotels & Resorts Inc. (NYSE:PK) by 1.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 762,511 shares of the financial services provider’s stock after selling 7,999 shares during the period. Rhumbline Advisers owned 0.35% of Park Hotels & Resorts worth $9,425,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in PK. Vanguard Group Inc. boosted its stake in Park Hotels & Resorts by 1.7% during the first quarter. Vanguard Group Inc. now owns 33,696,042 shares of the financial services provider’s stock worth $658,084,000 after buying an additional 567,015 shares during the period. BlackRock Inc. grew its holdings in Park Hotels & Resorts by 0.6% during the 1st quarter. BlackRock Inc. now owns 29,740,571 shares of the financial services provider’s stock valued at $580,834,000 after purchasing an additional 182,269 shares during the last quarter. State Street Corp raised its position in Park Hotels & Resorts by 5.4% in the 2nd quarter. State Street Corp now owns 13,036,934 shares of the financial services provider’s stock worth $177,037,000 after purchasing an additional 662,640 shares during the period. Goldman Sachs Group Inc. lifted its stake in Park Hotels & Resorts by 29.7% in the second quarter. Goldman Sachs Group Inc. now owns 4,798,075 shares of the financial services provider’s stock worth $65,109,000 after purchasing an additional 1,099,160 shares during the last quarter. Finally, Cbre Investment Management Listed Real Assets LLC boosted its position in shares of Park Hotels & Resorts by 1.8% during the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 3,772,828 shares of the financial services provider’s stock valued at $44,482,000 after buying an additional 64,972 shares during the period. 91.40% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on PK. Barclays dropped their price objective on Park Hotels & Resorts from $17.00 to $16.00 and set an “equal weight” rating for the company in a report on Thursday, July 27th. Wells Fargo & Company raised their price target on shares of Park Hotels & Resorts from $13.00 to $15.00 in a research note on Wednesday, July 12th. StockNews.com began coverage on shares of Park Hotels & Resorts in a research report on Thursday, August 17th. They issued a “sell” rating for the company. Truist Financial dropped their target price on shares of Park Hotels & Resorts from $20.00 to $19.00 and set a “buy” rating on the stock in a research note on Thursday, July 20th. Finally, Morgan Stanley decreased 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 research note on Friday, August 25th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $17.38.

Park Hotels & Resorts Trading Down 0.2 %

NYSE PK opened at $12.80 on Monday. Park Hotels & Resorts Inc. has a one year low of $10.70 and a one year high of $15.38. The company has a debt-to-equity ratio of 1.12, a quick ratio of 2.67 and a current ratio of 2.67. The company has a market capitalization of $2.76 billion, a price-to-earnings ratio of -51.20, a price-to-earnings-growth ratio of 0.84 and a beta of 1.92. The company’s 50-day simple moving average is $13.04 and its two-hundred day simple moving average is $12.88.

Park Hotels & Resorts (NYSE:PK) last released its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported ($0.70) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($1.28). The business had revenue of $714.00 million for the quarter, compared to the consensus estimate of $725.05 million. Park Hotels & Resorts had a negative net margin of 1.79% and a negative return on equity of 1.14%. Equities analysts forecast that Park Hotels & Resorts Inc. will post 1.86 EPS for the current fiscal year.

Park Hotels & Resorts Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 17th. Stockholders of record on Friday, June 30th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 4.69%. The ex-dividend date of this dividend was Thursday, June 29th. Park Hotels & Resorts’s payout ratio is -240.00%.

Park Hotels & Resorts Profile

Park is one of the largest publicly-traded lodging REITs with a diverse portfolio of iconic and market-leading hotels and resorts with significant underlying real estate value. Park's portfolio currently consists of 45 premium-branded hotels and resorts with over 29,000 rooms primarily located in prime city center and resort locations.