Bank of Montreal Can Buys 60,202 Shares of Park Hotels & Resorts Inc. (NYSE:PK)

Bank of Montreal Can increased its stake in shares of Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 92.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 125,337 shares of the financial services provider's stock after acquiring an additional 60,202 shares during the quarter. Bank of Montreal Can owned approximately 0.06% of Park Hotels & Resorts worth $1,856,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. Price T Rowe Associates Inc. MD lifted its holdings in shares of Park Hotels & Resorts by 6.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 100,390 shares of the financial services provider's stock worth $1,756,000 after purchasing an additional 6,067 shares in the last quarter. Tidal Investments LLC raised its holdings in Park Hotels & Resorts by 17.9% during the first quarter. Tidal Investments LLC now owns 14,060 shares of the financial services provider's stock worth $246,000 after buying an additional 2,131 shares during the last quarter. CWM LLC raised its holdings in Park Hotels & Resorts by 1,875.4% during the second quarter. CWM LLC now owns 56,258 shares of the financial services provider's stock worth $843,000 after buying an additional 53,410 shares during the last quarter. Sound Income Strategies LLC lifted its stake in shares of Park Hotels & Resorts by 9.6% in the second quarter. Sound Income Strategies LLC now owns 789,754 shares of the financial services provider's stock valued at $11,831,000 after buying an additional 69,498 shares in the last quarter. Finally, Blue Zone Wealth Advisors LLC grew its holdings in shares of Park Hotels & Resorts by 0.4% during the second quarter. Blue Zone Wealth Advisors LLC now owns 252,737 shares of the financial services provider's stock valued at $3,786,000 after buying an additional 883 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. UBS Group upped their target price 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. Wells Fargo & Company upped their price target on Park Hotels & Resorts from $14.50 to $16.00 and gave the stock an "equal weight" rating in a report on Tuesday, November 26th. Compass Point dropped their price objective on Park Hotels & Resorts from $25.00 to $20.00 and set a "buy" rating on the stock in a research note on Thursday, October 31st. Truist Financial cut their price objective on shares of Park Hotels & Resorts from $20.00 to $18.00 and set a "buy" rating on the stock in a report on Wednesday, September 4th. Finally, StockNews.com downgraded shares of Park Hotels & Resorts from a "hold" rating to a "sell" rating in a research report on Thursday, November 7th. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $18.23.

Park Hotels & Resorts Stock Performance

Shares of Park Hotels & Resorts stock traded down $0.10 on Friday, reaching $15.65. 2,411,998 shares of the company traded hands, compared to its average volume of 2,778,020. The company has a 50 day moving average of $14.55 and a 200 day moving average of $14.72. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.51 and a quick ratio of 1.51. Park Hotels & Resorts Inc. has a 52 week low of $13.23 and a 52 week high of $18.05. The firm has a market capitalization of $3.23 billion, a PE ratio of 10.03, a PEG ratio of 7.10 and a beta of 2.03.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.21). The firm had revenue of $649.00 million for the quarter, compared to the consensus estimate of $646.15 million. Park Hotels & Resorts had a net margin of 12.66% and a return on equity of 9.63%. Park Hotels & Resorts's revenue for the quarter was down 4.4% on a year-over-year basis. During the same period last year, the company posted $0.51 earnings per share. Equities analysts forecast that Park Hotels & Resorts Inc. will post 1.97 earnings per share for the current year.

Park Hotels & Resorts Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders 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 annualized dividend and a yield of 16.62%. Park Hotels & Resorts's dividend payout ratio is 63.69%.

Park Hotels & Resorts 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.