Park Hotels & Resorts Inc. (NYSE:PK) Shares Sold by Pensionfund DSM Netherlands

Pensionfund DSM Netherlands cut its stake in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 16.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 52,038 shares of the financial services provider’s stock after selling 10,000 shares during the quarter. Pensionfund DSM Netherlands’ holdings in Park Hotels & Resorts were worth $732,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Algert Global LLC boosted its stake in 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 valued at $11,269,000 after purchasing an additional 245,973 shares during the period. Quantbot Technologies LP raised its stake in 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 valued at $5,511,000 after acquiring an additional 179,884 shares in the last quarter. XTX Topco Ltd boosted its position in Park Hotels & Resorts by 420.7% during the 3rd quarter. XTX Topco Ltd now owns 89,168 shares of the financial services provider’s stock worth $1,257,000 after acquiring an additional 72,044 shares during the period. National Bank of Canada FI grew its stake in shares of Park Hotels & Resorts by 70.9% in the second 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 in the last quarter. Finally, AQR Capital Management LLC increased its holdings 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 valued at $77,217,000 after purchasing an additional 3,897,889 shares during the period. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Park Hotels & Resorts Stock Performance

Shares of NYSE PK traded down $0.06 during trading hours on Monday, reaching $14.13. The stock had a trading volume of 184,996 shares, compared to its average volume of 2,861,350. Park Hotels & Resorts Inc. has a twelve month low of $13.23 and a twelve month high of $18.05. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.51 and a quick ratio of 1.51. The business’s fifty day moving average is $14.87 and its two-hundred day moving average is $14.63. The company has a market cap of $2.92 billion, a price-to-earnings ratio of 9.00, a PEG ratio of 6.90 and a beta of 2.02.

Park Hotels & Resorts (NYSE:PK) last released its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.21). The business 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%. Park Hotels & Resorts’s revenue was down 4.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.51 earnings per share. As a group, research analysts expect that Park Hotels & Resorts Inc. will post 1.96 EPS for the current 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 $0.65 dividend. 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 18.40%. The ex-dividend date is Tuesday, December 31st. Park Hotels & Resorts’s dividend payout ratio is currently 63.69%.

Wall Street Analysts Forecast Growth

PK has been the subject of several research analyst reports. Wolfe Research downgraded shares of Park Hotels & Resorts from an “outperform” rating to a “peer perform” rating in a report on Thursday, September 26th. Jefferies Financial Group reduced their price target on shares of Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating for the company in a research note on Thursday. StockNews.com upgraded shares of Park Hotels & Resorts from a “sell” rating to a “hold” rating in a research note on Monday, December 30th. Compass Point cut their target price on Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Finally, Wells Fargo & Company upped their price objective on shares of Park Hotels & Resorts from $16.00 to $17.00 and gave the company an “equal weight” rating in a research note on Monday, December 9th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Park Hotels & Resorts presently has an average rating of “Moderate Buy” and a consensus target price of $18.65.

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.