Nisa Investment Advisors LLC Raises Holdings in Park Hotels & Resorts Inc. (NYSE:PK)

Nisa Investment Advisors LLC lifted its holdings in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 16.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 155,663 shares of the financial services provider’s stock after purchasing an additional 22,335 shares during the period. Nisa Investment Advisors LLC owned about 0.07% of Park Hotels & Resorts worth $2,382,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of PK. FNY Investment Advisers LLC acquired a new stake in Park Hotels & Resorts during the fourth quarter worth approximately $42,000. Spire Wealth Management boosted 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 acquiring an additional 860 shares during the last quarter. Covestor Ltd boosted 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 acquiring an additional 1,340 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its position in Park Hotels & Resorts by 353.7% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 7,055 shares of the financial services provider’s stock worth $83,000 after acquiring an additional 5,500 shares during the last quarter. Finally, Captrust Financial Advisors acquired a new stake in Park Hotels & Resorts during the second quarter worth approximately $104,000. 92.69% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PK has been the topic of a number of analyst reports. StockNews.com lowered shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research report on Saturday. UBS Group lifted their price target on shares of Park Hotels & Resorts from $14.00 to $18.00 and gave the company a “neutral” rating in a report on Wednesday, March 6th. Citigroup upgraded shares of Park Hotels & Resorts from a “neutral” rating to a “buy” rating and lifted their price target for the company from $14.00 to $20.00 in a report on Friday, March 22nd. Jefferies Financial Group upgraded shares of Park Hotels & Resorts from a “hold” rating to a “buy” rating and lifted their price target for the company from $14.00 to $21.00 in a report on Tuesday, January 2nd. Finally, Truist Financial lifted their price target on shares of Park Hotels & Resorts from $20.00 to $21.00 and gave the company a “buy” rating in a report on Thursday, March 14th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $17.58.

Park Hotels & Resorts Stock Performance

Park Hotels & Resorts stock opened at $17.02 on Friday. Park Hotels & Resorts Inc. has a 12-month low of $11.05 and a 12-month high of $18.05. The company has a market capitalization of $3.58 billion, a price-to-earnings ratio of 37.00, a price-to-earnings-growth ratio of 0.66 and a beta of 2.03. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.30 and a quick ratio of 1.30. The firm’s fifty day moving average price is $16.64 and its 200 day moving average price is $15.10.

Park Hotels & Resorts (NYSE:PK) last released its earnings results on Tuesday, February 27th. The financial services provider reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.39. The company had revenue of $657.00 million during the quarter, compared to the consensus estimate of $665.16 million. Park Hotels & Resorts had a net margin of 3.60% and a return on equity of 2.44%. On average, research analysts forecast that Park Hotels & Resorts Inc. will post 2 EPS for the current fiscal year.

Park Hotels & Resorts Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Friday, March 29th will be given a $0.25 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $1.00 annualized dividend and a dividend yield of 5.88%. This is an increase from Park Hotels & Resorts’s previous quarterly dividend of $0.15. Park Hotels & Resorts’s payout ratio is presently 217.39%.

Park Hotels & Resorts Profile

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.