Louisiana State Employees Retirement System Takes $903,000 Position in Park Hotels & Resorts Inc. (NYSE:PK)

Louisiana State Employees Retirement System acquired a new stake in Park Hotels & Resorts Inc. (NYSE:PK) during the fourth quarter, Holdings Channel.com reports. The firm acquired 59,000 shares of the financial services provider’s stock, valued at approximately $903,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Park Hotels & Resorts by 1.1% in 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. Charles Schwab Investment Management Inc. grew its position in shares of Park Hotels & Resorts by 2.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,728,048 shares of the financial services provider’s stock valued at $33,610,000 after buying an additional 72,959 shares during the last quarter. Private Management Group Inc. grew its position in shares of Park Hotels & Resorts by 16.6% in the 3rd quarter. Private Management Group Inc. now owns 2,212,651 shares of the financial services provider’s stock valued at $27,260,000 after buying an additional 314,386 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of Park Hotels & Resorts by 2.3% in the 3rd quarter. Principal Financial Group Inc. now owns 1,278,636 shares of the financial services provider’s stock valued at $15,753,000 after buying an additional 28,349 shares during the last quarter. Finally, Invesco Ltd. grew its position in shares of Park Hotels & Resorts by 16.2% in the 3rd quarter. Invesco Ltd. now owns 1,211,129 shares of the financial services provider’s stock valued at $14,921,000 after buying an additional 169,081 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Park Hotels & Resorts Stock Down 2.7 %

PK stock opened at $16.33 on Friday. Park Hotels & Resorts Inc. has a one year low of $11.05 and a one year high of $18.05. The stock has a market capitalization of $3.44 billion, a PE ratio of 35.50, a price-to-earnings-growth ratio of 0.86 and a beta of 2.03. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.30 and a current ratio of 1.30. The company has a fifty day moving average of $16.88 and a 200-day moving average of $15.38.

Park Hotels & Resorts (NYSE:PK) last released its earnings results on Tuesday, February 27th. The financial services provider reported $0.88 EPS for the quarter, topping the consensus estimate of $0.49 by $0.39. Park Hotels & Resorts had a net margin of 3.60% and a return on equity of 2.44%. The company had revenue of $657.00 million during the quarter, compared to analysts’ expectations of $665.16 million. As a group, analysts expect that Park Hotels & Resorts Inc. will post 2.06 EPS for the current year.

Park Hotels & Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 6.12%. The ex-dividend date is Friday, June 28th. Park Hotels & Resorts’s dividend payout ratio (DPR) is 217.39%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Citigroup raised shares of Park Hotels & Resorts from a “neutral” rating to a “buy” rating and increased their target price for the company from $14.00 to $20.00 in a research report on Friday, March 22nd. Truist Financial increased their target price on shares of Park Hotels & Resorts from $20.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, March 14th. Jefferies Financial Group raised shares of Park Hotels & Resorts from a “hold” rating to a “buy” rating and raised their price objective for the stock from $14.00 to $21.00 in a research report on Tuesday, January 2nd. UBS Group raised their price objective on shares of Park Hotels & Resorts from $14.00 to $18.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 6th. Finally, Wells Fargo & Company raised their price objective on shares of Park Hotels & Resorts from $17.00 to $18.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 21st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $17.58.

Park Hotels & Resorts Company 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.