Captrust Financial Advisors Sells 10,027 Shares of Park Hotels & Resorts Inc. (NYSE:PK)

Captrust Financial Advisors lowered its holdings in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 40.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 14,500 shares of the financial services provider’s stock after selling 10,027 shares during the period. Captrust Financial Advisors’ holdings in Park Hotels & Resorts were worth $204,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Harbor Capital Advisors Inc. acquired a new stake in shares of Park Hotels & Resorts during the third quarter worth $33,000. Venturi Wealth Management LLC increased its position in shares of Park Hotels & Resorts by 281.6% during the third quarter. Venturi Wealth Management LLC now owns 3,850 shares of the financial services provider’s stock worth $54,000 after buying an additional 2,841 shares during the period. Quarry LP increased its position in shares of Park Hotels & Resorts by 82.1% during the second quarter. Quarry LP now owns 4,118 shares of the financial services provider’s stock worth $62,000 after buying an additional 1,857 shares during the period. Claro Advisors LLC acquired a new stake in shares of Park Hotels & Resorts during the third quarter worth $69,000. Finally, Covestor Ltd increased its position in shares of Park Hotels & Resorts by 64.8% during the third quarter. Covestor Ltd now owns 6,894 shares of the financial services provider’s stock worth $97,000 after buying an additional 2,711 shares during the period. Institutional investors own 92.69% of the company’s stock.

Analyst Ratings Changes

PK has been the subject of several recent analyst reports. Bank of America decreased their price objective on shares of Park Hotels & Resorts from $17.00 to $16.50 and set a “neutral” rating for the company in a research report on Monday, October 21st. Truist Financial decreased their price objective on shares of Park Hotels & Resorts from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th. StockNews.com cut shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. Compass Point reduced their price target on shares of Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Finally, UBS Group raised their price target on shares of Park Hotels & Resorts from $14.00 to $15.00 and gave the stock a “neutral” rating in a report on Monday, November 18th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $18.55.

Park Hotels & Resorts Stock Up 0.7 %

Park Hotels & Resorts stock opened at $15.39 on Tuesday. Park Hotels & Resorts Inc. has a 1-year low of $13.23 and a 1-year high of $18.05. The firm has a market capitalization of $3.18 billion, a price-to-earnings ratio of 9.87, a price-to-earnings-growth ratio of 6.90 and a beta of 2.03. The firm’s fifty day moving average price is $14.70 and its two-hundred day moving average price is $14.68. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 1.24.

Park Hotels & Resorts (NYSE:PK) last released its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $646.15 million. During the same period in the previous year, the business earned $0.51 earnings per share. The firm’s revenue for the quarter was down 4.4% on a year-over-year basis. On average, equities research analysts predict that Park Hotels & Resorts Inc. will post 1.96 earnings per share for the current fiscal 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 given a dividend of $0.65 per share. This is a positive change from Park Hotels & Resorts’s previous quarterly dividend of $0.25. This represents a $2.60 dividend on an annualized basis and a dividend yield of 16.89%. The ex-dividend date is Tuesday, December 31st. Park Hotels & Resorts’s dividend payout ratio (DPR) is presently 63.69%.

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.