Park Hotels & Resorts Inc. (NYSE:PK) Stake Raised by Principal Financial Group Inc.

Principal Financial Group Inc. grew its holdings in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 0.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 475,417 shares of the financial services provider’s stock after purchasing an additional 2,088 shares during the quarter. Principal Financial Group Inc. owned about 0.24% of Park Hotels & Resorts worth $5,077,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Coldstream Capital Management Inc. lifted its holdings in shares of Park Hotels & Resorts by 7.3% during the fourth quarter. Coldstream Capital Management Inc. now owns 11,931 shares of the financial services provider’s stock worth $168,000 after buying an additional 813 shares during the last quarter. Xponance Inc. lifted its stake in Park Hotels & Resorts by 3.8% during the fourth quarter. Xponance Inc. now owns 24,650 shares of the financial services provider’s stock worth $347,000 after purchasing an additional 892 shares during the period. Nissay Asset Management Corp Japan ADV raised its stake in Park Hotels & Resorts by 3.6% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 32,929 shares of the financial services provider’s stock worth $491,000 after acquiring an additional 1,139 shares in the last quarter. Tidal Investments LLC grew its position in Park Hotels & Resorts by 6.3% during the 4th quarter. Tidal Investments LLC now owns 20,754 shares of the financial services provider’s stock worth $292,000 after acquiring an additional 1,232 shares during the last quarter. Finally, Quadrant Capital Group LLC raised its holdings in shares of Park Hotels & Resorts by 38.4% in the fourth quarter. Quadrant Capital Group LLC now owns 4,814 shares of the financial services provider’s stock valued at $68,000 after buying an additional 1,335 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. JPMorgan Chase & Co. began coverage on shares of Park Hotels & Resorts in a report on Monday, June 23rd. They issued an “underweight” rating and a $10.00 price objective on the stock. Bank of America downgraded shares of Park Hotels & Resorts from a “neutral” rating to an “underperform” rating and set a $11.00 target price for the company. in a research report on Wednesday, April 30th. Jefferies Financial Group cut Park Hotels & Resorts from a “buy” rating to a “hold” rating and decreased their price objective for the company from $19.00 to $10.00 in a report on Wednesday, April 9th. Morgan Stanley reissued an “outperform” rating on shares of Park Hotels & Resorts in a research report on Tuesday. Finally, Wells Fargo & Company increased their price target on Park Hotels & Resorts from $10.00 to $11.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 1st. Three analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $12.11.

Park Hotels & Resorts Stock Performance

Shares of PK opened at $10.84 on Thursday. The company has a market capitalization of $2.17 billion, a price-to-earnings ratio of 18.38, a PEG ratio of 1.45 and a beta of 1.72. The stock has a 50 day moving average of $10.54 and a 200 day moving average of $11.41. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.33. Park Hotels & Resorts Inc. has a 12 month low of $8.27 and a 12 month high of $16.23.

Park Hotels & Resorts (NYSE:PK) last released its quarterly earnings data on Monday, May 5th. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.05. The company had revenue of $630.00 million for the quarter, compared to analyst estimates of $620.17 million. Park Hotels & Resorts had a return on equity of 2.65% and a net margin of 4.90%. The firm’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.52 EPS. As a group, sell-side analysts forecast that Park Hotels & Resorts Inc. will post 2.11 earnings per share for the current year.

Park Hotels & Resorts Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 9.22%. The ex-dividend date was Monday, June 30th. Park Hotels & Resorts’s dividend payout ratio (DPR) is currently 169.49%.

Park Hotels & Resorts Profile

Park Hotels & Resorts, Inc operates as a real estate investment trust, which owns and operates hotels and resorts. It operates through the Consolidated Hotels and Unconsolidated Hotels segments. Its portfolio of hotels and resorts include the Waldorf Astoria Hotels and Resorts, Conrad Hotels & Resorts, Hilton Hotels & Resorts, DoubleTree by Hilton, Embassy Suites by Hilton, Hilton Garden Inn, Hampton by Hilton, and Curio.