Oak Thistle LLC Invests $280,000 in Park Hotels & Resorts Inc. (NYSE:PK)

Oak Thistle LLC purchased a new stake in shares of Park Hotels & Resorts Inc. (NYSE:PK) in the fourth quarter, Holdings Channel reports. The firm purchased 19,936 shares of the financial services provider’s stock, valued at approximately $280,000.

Several other institutional investors have also added to or reduced their stakes in PK. Victory Capital Management Inc. raised its position in Park Hotels & Resorts by 12.8% during the 2nd quarter. Victory Capital Management Inc. now owns 89,729 shares of the financial services provider’s stock valued at $1,344,000 after purchasing an additional 10,212 shares during the last quarter. Federated Hermes Inc. increased its stake in shares of Park Hotels & Resorts by 12.2% during the second quarter. Federated Hermes Inc. now owns 152,516 shares of the financial services provider’s stock valued at $2,285,000 after buying an additional 16,591 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of Park Hotels & Resorts by 7.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 324,774 shares of the financial services provider’s stock valued at $4,865,000 after acquiring an additional 21,994 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Park Hotels & Resorts by 3.8% in the second quarter. Dimensional Fund Advisors LP now owns 3,113,325 shares of the financial services provider’s stock worth $46,638,000 after acquiring an additional 115,391 shares during the period. Finally, Renaissance Technologies LLC boosted its holdings in Park Hotels & Resorts by 31.3% in the second quarter. Renaissance Technologies LLC now owns 756,352 shares of the financial services provider’s stock valued at $11,330,000 after acquiring an additional 180,500 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Wells Fargo & Company upped their price objective on shares of Park Hotels & Resorts from $16.00 to $17.00 and gave the stock an “equal weight” rating in a report on Monday, December 9th. Bank of America decreased their price target on shares of Park Hotels & Resorts from $17.00 to $16.50 and set a “neutral” rating for the company in a research note on Monday, October 21st. UBS Group lifted their price objective on Park Hotels & Resorts from $14.00 to $15.00 and gave the company a “neutral” rating in a research report on Monday, November 18th. Jefferies Financial Group lowered their target price on Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating for the company in a research note on Thursday, January 2nd. Finally, Compass Point reduced their target price on shares of Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $18.65.

Park Hotels & Resorts Stock Up 0.2 %

Park Hotels & Resorts stock opened at $13.63 on Friday. Park Hotels & Resorts Inc. has a 12 month low of $13.22 and a 12 month high of $18.05. The stock has a fifty day simple moving average of $14.76 and a two-hundred day simple moving average of $14.56. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 1.24. The firm has a market cap of $2.81 billion, a price-to-earnings ratio of 8.68, a PEG ratio of 5.73 and a beta of 2.02.

Park Hotels & Resorts (NYSE:PK) last issued its earnings results on Tuesday, October 29th. The financial services provider reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.21). The company had revenue of $649.00 million during the quarter, compared to analysts’ expectations of $646.15 million. Park Hotels & Resorts had a return on equity of 9.63% and a net margin of 12.66%. The company’s revenue for the quarter was down 4.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.51 EPS. Equities analysts predict that Park Hotels & Resorts Inc. will post 1.97 EPS for the current fiscal year.

Park Hotels & Resorts Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a $0.65 dividend. This is an increase from Park Hotels & Resorts’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $2.60 dividend on an annualized basis and a yield of 19.08%. Park Hotels & Resorts’s dividend payout ratio is currently 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.