Bamco Inc. NY Boosts Holdings in Park Hotels & Resorts Inc. (NYSE:PK)

Bamco Inc. NY raised its stake in Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 38.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 495,753 shares of the financial services provider's stock after buying an additional 136,529 shares during the period. Bamco Inc. NY owned about 0.24% of Park Hotels & Resorts worth $6,990,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. Blue Zone Wealth Advisors LLC lifted its position in shares of Park Hotels & Resorts by 0.4% in the 2nd quarter. Blue Zone Wealth Advisors LLC now owns 252,737 shares of the financial services provider's stock worth $3,786,000 after purchasing an additional 883 shares during the period. Arizona State Retirement System lifted its position in shares of Park Hotels & Resorts by 2.1% in the 2nd quarter. Arizona State Retirement System now owns 58,940 shares of the financial services provider's stock worth $883,000 after purchasing an additional 1,232 shares during the period. Bfsg LLC lifted its position in shares of Park Hotels & Resorts by 8.7% in the 3rd quarter. Bfsg LLC now owns 15,440 shares of the financial services provider's stock worth $218,000 after purchasing an additional 1,235 shares during the period. Kendall Capital Management raised its stake in shares of Park Hotels & Resorts by 11.0% during the 2nd quarter. Kendall Capital Management now owns 15,095 shares of the financial services provider's stock worth $226,000 after acquiring an additional 1,500 shares in the last quarter. Finally, United Services Automobile Association raised its stake in shares of Park Hotels & Resorts by 10.5% during the 2nd quarter. United Services Automobile Association now owns 15,826 shares of the financial services provider's stock worth $237,000 after acquiring an additional 1,509 shares in the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Evercore ISI reduced their price objective on shares of Park Hotels & Resorts from $20.00 to $19.00 and set an "outperform" rating for the company in a research note on Tuesday, August 13th. Bank of America reduced 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 note on Monday, October 21st. UBS Group boosted their price objective on shares of Park Hotels & Resorts from $14.00 to $15.00 and gave the stock a "neutral" rating in a research note on Monday, November 18th. Truist Financial reduced 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 note on Wednesday, September 4th. Finally, Compass Point reduced their price objective on shares of Park Hotels & Resorts from $25.00 to $20.00 and set a "buy" rating for the company in a research note on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $18.23.

Park Hotels & Resorts Stock Performance

Shares of NYSE:PK traded up $0.01 during midday trading on Wednesday, reaching $15.82. The company's stock had a trading volume of 2,912,425 shares, compared to its average volume of 2,771,010. The firm has a market capitalization of $3.27 billion, a PE ratio of 10.08, a P/E/G ratio of 6.91 and a beta of 2.03. Park Hotels & Resorts Inc. has a twelve month low of $13.23 and a twelve month high of $18.05. The stock has a fifty day moving average of $14.53 and a 200 day moving average of $14.71. 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 - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $0.26 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.47 by ($0.21). Park Hotels & Resorts had a return on equity of 9.63% and a net margin of 12.66%. The firm had revenue of $649.00 million for the quarter, compared to analysts' expectations of $646.15 million. During the same period last year, the company posted $0.51 earnings per share. The business's quarterly revenue was down 4.4% on a year-over-year basis. On average, equities analysts expect that Park Hotels & Resorts Inc. will post 1.97 EPS 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 issued a dividend of $0.65 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This is an increase from Park Hotels & Resorts's previous quarterly dividend of $0.25. This represents a $2.60 dividend on an annualized basis and a yield of 16.43%. Park Hotels & Resorts's dividend payout ratio is 63.69%.

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.