Pitcairn Co. Has $233,000 Stock Holdings in Park Hotels & Resorts Inc. (NYSE:PK)

Pitcairn Co. decreased its position in Park Hotels & Resorts Inc. (NYSE:PK) by 4.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 16,539 shares of the financial services provider’s stock after selling 841 shares during the period. Pitcairn Co.’s holdings in Park Hotels & Resorts were worth $233,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Donald Smith & CO. Inc. lifted its holdings in Park Hotels & Resorts by 22.5% during the third quarter. Donald Smith & CO. Inc. now owns 8,077,286 shares of the financial services provider’s stock worth $113,890,000 after acquiring an additional 1,484,295 shares in the last quarter. AQR Capital Management LLC raised its position in shares of Park Hotels & Resorts by 287.7% during the second quarter. AQR Capital Management LLC now owns 5,252,853 shares of the financial services provider’s stock worth $77,217,000 after purchasing an additional 3,897,889 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Park Hotels & Resorts by 3.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,113,325 shares of the financial services provider’s stock valued at $46,638,000 after purchasing an additional 115,391 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Park Hotels & Resorts by 2.3% in the 3rd 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 purchasing an additional 66,093 shares during the period. Finally, Jupiter Asset Management Ltd. increased its stake in Park Hotels & Resorts by 286.9% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 2,597,091 shares of the financial services provider’s stock worth $38,904,000 after purchasing an additional 1,925,850 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Park Hotels & Resorts Stock Up 1.3 %

PK stock opened at $15.56 on Thursday. The company has a market cap of $3.21 billion, a price-to-earnings ratio of 9.91, a P/E/G ratio of 0.85 and a beta of 2.02. Park Hotels & Resorts Inc. has a twelve month low of $13.23 and a twelve month high of $18.05. The business has a 50 day moving average price of $14.49 and a two-hundred day moving average price of $14.73. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 1.24.

Park Hotels & Resorts (NYSE:PK) last released its earnings results 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). Park Hotels & Resorts had a net margin of 12.66% and a return on equity of 9.63%. The firm had revenue of $649.00 million during the quarter, compared to the consensus estimate of $646.15 million. During the same period in the prior year, the business posted $0.51 earnings per share. Park Hotels & Resorts’s quarterly revenue was down 4.4% compared to the same quarter last year. Analysts anticipate that Park Hotels & Resorts Inc. will post 2.09 EPS for the current fiscal year.

Park Hotels & Resorts Increases Dividend

The company 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 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 payout ratio is currently 63.69%.

Analyst Ratings Changes

A number of brokerages have weighed in on PK. Truist Financial cut their price target on shares of Park Hotels & Resorts from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Wednesday, September 4th. Bank of America cut their price objective on shares of Park Hotels & Resorts from $17.00 to $16.50 and set a “neutral” rating on the stock in a research report on Monday, October 21st. Evercore ISI lowered their target price on Park Hotels & Resorts from $20.00 to $19.00 and set an “outperform” rating for the company in a report on Tuesday, August 13th. Wells Fargo & Company upped their price objective on Park Hotels & Resorts from $14.50 to $16.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Finally, StockNews.com downgraded Park Hotels & Resorts from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Park Hotels & Resorts has an average rating of “Hold” and a consensus target price of $18.23.

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.