MetLife Investment Management LLC Has $1.72 Million Position in Park Hotels & Resorts Inc. (NYSE:PK)

MetLife Investment Management LLC raised its holdings in Park Hotels & Resorts Inc. (NYSE:PK) by 7.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 122,362 shares of the financial services provider’s stock after acquiring an additional 8,067 shares during the quarter. MetLife Investment Management LLC’s holdings in Park Hotels & Resorts were worth $1,722,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Quadrant Capital Group LLC raised its stake in shares of Park Hotels & Resorts by 38.4% in the 4th quarter. Quadrant Capital Group LLC now owns 4,814 shares of the financial services provider’s stock valued at $68,000 after acquiring an additional 1,335 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in Park Hotels & Resorts by 42.2% during the fourth quarter. Jones Financial Companies Lllp now owns 7,992 shares of the financial services provider’s stock valued at $112,000 after purchasing an additional 2,373 shares during the last quarter. CIBC Private Wealth Group LLC bought a new position in shares of Park Hotels & Resorts in the fourth quarter valued at approximately $112,000. Plato Investment Management Ltd acquired a new stake in shares of Park Hotels & Resorts in the fourth quarter worth $141,000. Finally, KBC Group NV boosted its holdings in shares of Park Hotels & Resorts by 36.2% during the 4th quarter. KBC Group NV now owns 10,023 shares of the financial services provider’s stock worth $141,000 after buying an additional 2,663 shares during the period. 92.69% of the stock is owned by institutional investors.

Park Hotels & Resorts Stock Down 1.5 %

Shares of PK stock opened at $9.91 on Wednesday. Park Hotels & Resorts Inc. has a one year low of $8.27 and a one year high of $16.65. 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 stock has a fifty day moving average price of $10.82 and a 200 day moving average price of $13.06. The stock has a market cap of $2.00 billion, a P/E ratio of 9.81, a price-to-earnings-growth ratio of 1.51 and a beta of 1.73.

Park Hotels & Resorts (NYSE:PK) last released 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). The business had revenue of $625.00 million for the quarter, compared to the consensus estimate of $609.05 million. Park Hotels & Resorts had a return on equity of 5.63% and a net margin of 8.16%. Analysts predict that Park Hotels & Resorts Inc. will post 2.11 earnings per share for the current year.

Park Hotels & Resorts Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 10.09%. Park Hotels & Resorts’s payout ratio is presently 99.01%.

Analyst Upgrades and Downgrades

PK has been the topic of several recent analyst reports. Truist Financial dropped their target price on shares of Park Hotels & Resorts from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Friday, March 21st. StockNews.com cut Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research report on Thursday, April 10th. Morgan Stanley lowered their target price on Park Hotels & Resorts from $12.00 to $10.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 22nd. Jefferies Financial Group lowered Park Hotels & Resorts from a “buy” rating to a “hold” rating and cut their price target for the stock from $19.00 to $10.00 in a report on Wednesday, April 9th. Finally, Evercore ISI lowered their price objective on shares of Park Hotels & Resorts from $16.00 to $13.00 and set an “outperform” rating on the stock in a research note on Monday. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $15.15.

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.