Federated Hermes Inc. Purchases 136,623 Shares of Park Hotels & Resorts Inc. (NYSE:PK)

Federated Hermes Inc. lifted its position in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 1,087.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 149,192 shares of the financial services provider’s stock after buying an additional 136,623 shares during the period. Federated Hermes Inc.’s holdings in Park Hotels & Resorts were worth $2,099,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. EP Wealth Advisors LLC acquired a new stake in Park Hotels & Resorts in the 3rd quarter valued at $224,000. MML Investors Services LLC grew its holdings in shares of Park Hotels & Resorts by 55.1% in the 3rd quarter. MML Investors Services LLC now owns 24,634 shares of the financial services provider’s stock valued at $347,000 after acquiring an additional 8,749 shares in the last quarter. Y Intercept Hong Kong Ltd increased its position in shares of Park Hotels & Resorts by 81.6% in the third quarter. Y Intercept Hong Kong Ltd now owns 42,051 shares of the financial services provider’s stock valued at $593,000 after acquiring an additional 18,892 shares during the last quarter. Barclays PLC increased its position in shares of Park Hotels & Resorts by 22.4% in the third quarter. Barclays PLC now owns 319,593 shares of the financial services provider’s stock valued at $4,507,000 after acquiring an additional 58,432 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in Park Hotels & Resorts during the third quarter worth about $477,000. 92.69% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. UBS Group decreased their price target on Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating for the company in a research note on Monday, February 3rd. StockNews.com downgraded shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a report on Thursday. Jefferies Financial Group lowered shares of Park Hotels & Resorts from a “buy” rating to a “hold” rating and dropped their price target for the stock from $19.00 to $10.00 in a research report on Wednesday, April 9th. Wells Fargo & Company decreased their price objective on shares of Park Hotels & Resorts from $17.00 to $14.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 18th. Finally, Truist Financial dropped their target price on shares of Park Hotels & Resorts from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Friday, March 21st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $16.39.

Park Hotels & Resorts Stock Up 0.9 %

Park Hotels & Resorts stock opened at $9.52 on Monday. The company’s 50-day moving average price is $11.58 and its two-hundred day moving average price is $13.42. The company has a quick ratio of 1.51, a current ratio of 1.19 and a debt-to-equity ratio of 1.27. The stock has a market cap of $1.92 billion, a P/E ratio of 9.42, a P/E/G ratio of 1.51 and a beta of 1.73. Park Hotels & Resorts Inc. has a twelve month low of $8.27 and a twelve month high of $17.26.

Park Hotels & Resorts (NYSE:PK) last announced its earnings results on Wednesday, February 19th. The financial services provider reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.01). The firm had revenue of $625.00 million for the quarter, compared to the consensus estimate of $609.05 million. Park Hotels & Resorts had a return on equity of 5.63% and a net margin of 8.16%. As a group, analysts expect that Park Hotels & Resorts Inc. will post 2.11 EPS for the current year.

Park Hotels & Resorts Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 10.51%. The ex-dividend date of this dividend is Monday, March 31st. Park Hotels & Resorts’s dividend payout ratio is currently 99.01%.

About Park Hotels & Resorts

Park Hotels & Resorts, Inc operates as a real estate investment trust, which owns and operates hotels and resorts. It operates through the Consolidated Hotels and Unconsolidated Hotels segments. Its portfolio of hotels and resorts include the Waldorf Astoria Hotels and Resorts, Conrad Hotels & Resorts, Hilton Hotels & Resorts, DoubleTree by Hilton, Embassy Suites by Hilton, Hilton Garden Inn, Hampton by Hilton, and Curio.