Park Hotels & Resorts Inc. (NYSE:PK) Shares Sold by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. lowered its stake in Park Hotels & Resorts Inc. (NYSE:PK) by 6.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 72,023 shares of the financial services provider’s stock after selling 5,029 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Park Hotels & Resorts were worth $1,102,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. FNY Investment Advisers LLC acquired a new stake in shares of Park Hotels & Resorts during the fourth quarter worth about $42,000. Spire Wealth Management lifted its position in shares of Park Hotels & Resorts by 20.1% during the third quarter. Spire Wealth Management now owns 5,145 shares of the financial services provider’s stock worth $63,000 after purchasing an additional 860 shares in the last quarter. Covestor Ltd lifted its position in shares of Park Hotels & Resorts by 31.5% during the third quarter. Covestor Ltd now owns 5,596 shares of the financial services provider’s stock worth $69,000 after purchasing an additional 1,340 shares in the last quarter. L2 Asset Management LLC acquired a new stake in shares of Park Hotels & Resorts during the third quarter worth about $130,000. Finally, Inspire Advisors LLC acquired a new stake in shares of Park Hotels & Resorts during the third quarter worth about $153,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

Park Hotels & Resorts Stock Performance

Shares of Park Hotels & Resorts stock opened at $16.79 on Thursday. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 1.19. The firm has a market capitalization of $3.53 billion, a P/E ratio of 36.50, a P/E/G ratio of 0.86 and a beta of 2.03. The firm’s 50 day moving average is $16.86 and its two-hundred day moving average is $15.37. Park Hotels & Resorts Inc. has a 52 week low of $11.05 and a 52 week high of $18.05.

Park Hotels & Resorts (NYSE:PK) last announced its earnings results on Tuesday, February 27th. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.39. The business had revenue of $657.00 million for the quarter, compared to analyst estimates of $665.16 million. Park Hotels & Resorts had a net margin of 3.60% and a return on equity of 2.44%. Research analysts forecast that Park Hotels & Resorts Inc. will post 2.06 EPS for the current fiscal year.

Park Hotels & Resorts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.96%. Park Hotels & Resorts’s dividend payout ratio (DPR) is presently 217.39%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Wells Fargo & Company increased their price target 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. Citigroup upgraded shares of Park Hotels & Resorts from a “neutral” rating to a “buy” rating and upped their target price for the stock from $14.00 to $20.00 in a research note on Friday, March 22nd. Jefferies Financial Group upgraded shares of Park Hotels & Resorts from a “hold” rating to a “buy” rating and upped their target price for the stock from $14.00 to $21.00 in a research note on Tuesday, January 2nd. StockNews.com lowered shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research note on Tuesday. Finally, UBS Group upped their target price on shares of Park Hotels & Resorts from $14.00 to $18.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 6th. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $17.58.

Park Hotels & Resorts 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.