Park Hotels & Resorts Inc. (NYSE:PK) Holdings Raised by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Park Hotels & Resorts Inc. (NYSE:PK) by 35.7% during the fourth quarter, HoldingsChannel reports. The firm owned 111,807 shares of the financial services provider’s stock after acquiring an additional 29,432 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Park Hotels & Resorts were worth $1,573,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of PK. Victory Capital Management Inc. lifted its holdings in shares of Park Hotels & Resorts by 21.5% in the third quarter. Victory Capital Management Inc. now owns 109,002 shares of the financial services provider’s stock valued at $1,537,000 after purchasing an additional 19,273 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Park Hotels & Resorts by 2.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,902,728 shares of the financial services provider’s stock valued at $40,928,000 after buying an additional 66,093 shares during the period. Cerity Partners LLC lifted its stake in Park Hotels & Resorts by 47.1% in the 3rd quarter. Cerity Partners LLC now owns 150,971 shares of the financial services provider’s stock worth $2,129,000 after acquiring an additional 48,308 shares in the last quarter. Daiwa Securities Group Inc. boosted its position in Park Hotels & Resorts by 6.8% during the 3rd quarter. Daiwa Securities Group Inc. now owns 77,369 shares of the financial services provider’s stock worth $1,091,000 after acquiring an additional 4,936 shares during the period. Finally, Bank of Montreal Can boosted its position in Park Hotels & Resorts by 92.4% during the 3rd quarter. Bank of Montreal Can now owns 125,337 shares of the financial services provider’s stock worth $1,856,000 after acquiring an additional 60,202 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

Park Hotels & Resorts Trading Down 1.3 %

Park Hotels & Resorts stock opened at $11.36 on Wednesday. Park Hotels & Resorts Inc. has a one year low of $10.87 and a one year high of $17.87. The company’s fifty day moving average price is $12.64 and its two-hundred day moving average price is $13.89. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.19 and a quick ratio of 1.51. The company has a market capitalization of $2.29 billion, a price-to-earnings ratio of 11.25, a PEG ratio of 1.51 and a beta of 2.02.

Park Hotels & Resorts (NYSE:PK) last issued its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.01). Park Hotels & Resorts had a net margin of 8.16% and a return on equity of 5.63%. The company had revenue of $625.00 million for the quarter, compared to analyst estimates of $609.05 million. On average, analysts forecast that Park Hotels & Resorts Inc. will post 2.11 earnings per share for the current fiscal year.

Park Hotels & Resorts Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.80%. The ex-dividend date of this dividend is Monday, March 31st. Park Hotels & Resorts’s payout ratio is 99.01%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on PK shares. Jefferies Financial Group reduced their price target on shares of Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating for the company in a research report on Thursday, January 2nd. StockNews.com downgraded shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research report on Friday, February 21st. Wells Fargo & Company lowered their price target on shares of Park Hotels & Resorts from $17.00 to $14.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 18th. UBS Group cut their price objective on Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating for the company in a report on Monday, February 3rd. Finally, Truist Financial lowered their target price on Park Hotels & Resorts from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Friday, March 21st. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $17.72.

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.