Park Hotels & Resorts Inc. (NYSE:PK) Stake Lessened by Swiss National Bank

Swiss National Bank lowered its holdings in Park Hotels & Resorts Inc. (NYSE:PK) by 0.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 411,097 shares of the financial services provider’s stock after selling 3,500 shares during the period. Swiss National Bank’s holdings in Park Hotels & Resorts were worth $5,796,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of PK. Blue Zone Wealth Advisors LLC raised its holdings in shares of Park Hotels & Resorts by 0.4% during the second quarter. Blue Zone Wealth Advisors LLC now owns 252,737 shares of the financial services provider’s stock worth $3,786,000 after acquiring an additional 883 shares in the last quarter. Arizona State Retirement System raised its holdings in shares of Park Hotels & Resorts by 2.1% during the second quarter. Arizona State Retirement System now owns 58,940 shares of the financial services provider’s stock worth $883,000 after acquiring an additional 1,232 shares in the last quarter. Bfsg LLC raised its holdings in shares of Park Hotels & Resorts by 8.7% during the third quarter. Bfsg LLC now owns 15,440 shares of the financial services provider’s stock worth $218,000 after acquiring an additional 1,235 shares in the last quarter. Kendall Capital Management raised its holdings in shares of Park Hotels & Resorts by 11.0% during the second quarter. Kendall Capital Management now owns 15,095 shares of the financial services provider’s stock worth $226,000 after acquiring an additional 1,500 shares in the last quarter. Finally, United Services Automobile Association raised its holdings in shares of Park Hotels & Resorts by 10.5% during the second quarter. United Services Automobile Association now owns 15,826 shares of the financial services provider’s stock worth $237,000 after acquiring an additional 1,509 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Park Hotels & Resorts Trading Up 1.3 %

Shares of NYSE:PK opened at $15.56 on Thursday. The company has a market cap of $3.21 billion, a P/E ratio of 9.91, a P/E/G ratio of 0.85 and a beta of 2.02. The stock’s 50-day moving average is $14.49 and its 200-day moving average is $14.73. Park Hotels & Resorts Inc. has a 52-week low of $13.23 and a 52-week high of $18.05. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.51 and a current ratio of 1.51.

Park Hotels & Resorts (NYSE:PK) last issued its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.21). The business had revenue of $649.00 million during the quarter, compared to analyst estimates of $646.15 million. Park Hotels & Resorts had a net margin of 12.66% and a return on equity of 9.63%. The company’s revenue for the quarter was down 4.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.51 earnings per share. Equities research analysts predict that Park Hotels & Resorts Inc. will post 2.09 earnings per share for the current year.

Park Hotels & Resorts Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 16.71%. This is a positive change from Park Hotels & Resorts’s previous quarterly dividend of $0.25. The ex-dividend date is Tuesday, December 31st. Park Hotels & Resorts’s payout ratio is currently 63.69%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PK. Truist Financial cut their price objective on Park Hotels & Resorts from $20.00 to $18.00 and set a “buy” rating for the company in a report on Wednesday, September 4th. StockNews.com downgraded shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. Wolfe Research downgraded shares of Park Hotels & Resorts from an “outperform” rating to a “peer perform” rating in a research report on Thursday, September 26th. Evercore ISI lowered their target price on shares of Park Hotels & Resorts from $20.00 to $19.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 13th. Finally, Wells Fargo & Company increased their target price on shares of Park Hotels & Resorts from $14.50 to $16.00 and gave the stock an “equal weight” rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $18.23.

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.