Dimensional Fund Advisors LP Buys 115,391 Shares of Park Hotels & Resorts Inc. (NYSE:PK)

Dimensional Fund Advisors LP increased its holdings in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 3.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,113,325 shares of the financial services provider’s stock after acquiring an additional 115,391 shares during the quarter. Dimensional Fund Advisors LP owned about 1.48% of Park Hotels & Resorts worth $46,638,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in PK. Fidelis Capital Partners LLC acquired a new position in shares of Park Hotels & Resorts during the 1st quarter worth approximately $26,000. Raleigh Capital Management Inc. acquired a new position in Park Hotels & Resorts in the 4th quarter valued at $35,000. YHB Investment Advisors Inc. acquired a new position in Park Hotels & Resorts in the 1st quarter valued at $40,000. FinTrust Capital Advisors LLC grew its holdings in Park Hotels & Resorts by 260.5% in the 1st quarter. FinTrust Capital Advisors LLC now owns 5,076 shares of the financial services provider’s stock valued at $89,000 after buying an additional 3,668 shares in the last quarter. Finally, EntryPoint Capital LLC grew its holdings in Park Hotels & Resorts by 53.5% in the 1st quarter. EntryPoint Capital LLC now owns 6,488 shares of the financial services provider’s stock valued at $113,000 after buying an additional 2,260 shares in the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

Park Hotels & Resorts Price Performance

Shares of PK stock opened at $14.81 on Monday. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 1.23. Park Hotels & Resorts Inc. has a twelve month low of $11.05 and a twelve month high of $18.05. The company has a market cap of $3.09 billion, a P/E ratio of 33.66, a P/E/G ratio of 0.73 and a beta of 2.02. The business has a fifty day simple moving average of $14.56 and a 200 day simple moving average of $15.48.

Park Hotels & Resorts (NYSE:PK) last announced its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.30). Park Hotels & Resorts had a return on equity of 8.77% and a net margin of 11.50%. The business had revenue of $686.00 million for the quarter, compared to the consensus estimate of $694.94 million. On average, sell-side analysts forecast that Park Hotels & Resorts Inc. will post 2.11 EPS for the current fiscal year.

Park Hotels & Resorts Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.00 annualized dividend and a yield of 6.75%. Park Hotels & Resorts’s dividend payout ratio is presently 227.28%.

Analyst Ratings Changes

A number of brokerages have commented on PK. Truist Financial decreased their price objective on Park Hotels & Resorts from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Wednesday, September 4th. Evercore ISI decreased their price objective on Park Hotels & Resorts from $20.00 to $19.00 and set an “outperform” rating on the stock in a report on Tuesday, August 13th. Wells Fargo & Company cut their target price on Park Hotels & Resorts from $17.00 to $14.50 and set an “equal weight” rating for the company in a research report on Friday, September 13th. UBS Group cut their target price on Park Hotels & Resorts from $18.00 to $14.00 and set a “neutral” rating for the company in a research report on Friday, August 16th. Finally, Wolfe Research downgraded Park Hotels & Resorts from an “outperform” rating to a “peer perform” rating in a research report on Thursday. Eight analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Park Hotels & Resorts has an average rating of “Hold” and a consensus target price of $17.05.

About Park Hotels & Resorts

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.