Park Hotels & Resorts Inc. (NYSE:PK) Shares Sold by Swiss National Bank

Swiss National Bank trimmed its stake in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 0.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 411,097 shares of the financial services provider’s stock after selling 3,500 shares during the quarter. Swiss National Bank owned about 0.20% of Park Hotels & Resorts worth $5,796,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Algert Global LLC raised its position in shares of Park Hotels & Resorts by 48.6% during the 2nd quarter. Algert Global LLC now owns 752,273 shares of the financial services provider’s stock worth $11,269,000 after purchasing an additional 245,973 shares during the period. Diversified Trust Co acquired a new stake in shares of Park Hotels & Resorts during the 2nd quarter worth approximately $599,000. Quantbot Technologies LP raised its position in shares of Park Hotels & Resorts by 95.7% during the 2nd quarter. Quantbot Technologies LP now owns 367,900 shares of the financial services provider’s stock worth $5,511,000 after purchasing an additional 179,884 shares during the period. CWM LLC raised its position in shares of Park Hotels & Resorts by 1,875.4% during the 2nd quarter. CWM LLC now owns 56,258 shares of the financial services provider’s stock worth $843,000 after purchasing an additional 53,410 shares during the period. Finally, National Bank of Canada FI raised its position in shares of Park Hotels & Resorts by 70.9% during the 2nd quarter. National Bank of Canada FI now owns 223,600 shares of the financial services provider’s stock worth $3,298,000 after purchasing an additional 92,800 shares during the period. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on PK. Compass Point decreased their price objective on Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Wolfe Research lowered Park Hotels & Resorts from an “outperform” rating to a “peer perform” rating in a report on Thursday, September 26th. StockNews.com lowered Park Hotels & Resorts from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. Bank of America decreased their price objective on Park Hotels & Resorts from $17.00 to $16.50 and set a “neutral” rating for the company in a report on Monday, October 21st. Finally, Truist Financial decreased 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. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. According to MarketBeat, Park Hotels & Resorts presently has an average rating of “Hold” and an average target price of $18.23.

Park Hotels & Resorts Stock Performance

PK opened at $15.56 on Thursday. The firm has a market cap of $3.21 billion, a PE ratio of 9.91, a P/E/G ratio of 0.85 and a beta of 2.02. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 1.24. The business has a fifty day simple moving average of $14.49 and a 200-day simple moving average of $14.73. Park Hotels & Resorts Inc. has a fifty-two week low of $13.23 and a fifty-two week high of $18.05.

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

Park Hotels & Resorts Increases Dividend

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

Park Hotels & Resorts Company 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.