Park Hotels & Resorts Inc. (NYSE:PK) Stake Trimmed by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. lowered its stake in Park Hotels & Resorts Inc. (NYSE:PK) by 6.5% during the fourth quarter, HoldingsChannel reports. The firm owned 72,023 shares of the financial services provider’s stock after selling 5,029 shares during the period. Daiwa Securities Group Inc.’s holdings in Park Hotels & Resorts were worth $1,102,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. GraniteShares Advisors LLC purchased a new position in Park Hotels & Resorts during the 4th quarter valued at about $1,469,000. FMR LLC lifted its holdings in shares of Park Hotels & Resorts by 18.2% during the 3rd quarter. FMR LLC now owns 884,843 shares of the financial services provider’s stock valued at $10,901,000 after buying an additional 136,434 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Park Hotels & Resorts by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 33,109,654 shares of the financial services provider’s stock valued at $407,911,000 after buying an additional 347,812 shares during the last quarter. Landscape Capital Management L.L.C. lifted its holdings in shares of Park Hotels & Resorts by 136.4% during the 3rd quarter. Landscape Capital Management L.L.C. now owns 67,690 shares of the financial services provider’s stock valued at $834,000 after buying an additional 39,062 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. lifted its holdings in shares of Park Hotels & Resorts by 200.0% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 900,000 shares of the financial services provider’s stock valued at $11,088,000 after buying an additional 600,000 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Analyst Upgrades and Downgrades

PK has been the subject of several analyst reports. Jefferies Financial Group upgraded Park Hotels & Resorts from a “hold” rating to a “buy” rating and boosted their target price for the stock from $14.00 to $21.00 in a report on Tuesday, January 2nd. Citigroup upgraded Park Hotels & Resorts from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $14.00 to $20.00 in a report on Friday, March 22nd. Barclays boosted their target price on Park Hotels & Resorts from $19.00 to $21.00 and gave the stock an “overweight” rating in a report on Friday, March 1st. UBS Group boosted their target price on Park Hotels & Resorts from $14.00 to $18.00 and gave the stock a “neutral” rating in a report on Wednesday, March 6th. Finally, Truist Financial boosted their target price on Park Hotels & Resorts from $20.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, March 14th. One analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $17.58.

Park Hotels & Resorts Stock Performance

Shares of NYSE PK opened at $16.79 on Thursday. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 1.19. The business’s 50 day moving average is $16.86 and its two-hundred day moving average is $15.37. The company has a market cap of $3.53 billion, a P/E ratio of 36.50, a P/E/G ratio of 0.86 and a beta of 2.03. Park Hotels & Resorts Inc. has a 12 month low of $11.05 and a 12 month high of $18.05.

Park Hotels & Resorts (NYSE:PK) last released its quarterly earnings data on Tuesday, February 27th. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.39. The business had revenue of $657.00 million for the quarter, compared to analysts’ expectations of $665.16 million. Park Hotels & Resorts had a return on equity of 2.44% and a net margin of 3.60%. On average, equities analysts expect that Park Hotels & Resorts Inc. will post 2.06 EPS for the current year.

Park Hotels & Resorts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.96%. The ex-dividend date of this dividend is Friday, June 28th. Park Hotels & Resorts’s dividend 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.