Federated Hermes Inc. boosted its position in Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 1,087.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 149,192 shares of the financial services provider's stock after purchasing an additional 136,623 shares during the quarter. Federated Hermes Inc. owned about 0.07% of Park Hotels & Resorts worth $2,099,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Park Hotels & Resorts in the fourth quarter valued at approximately $41,087,000. Donald Smith & CO. Inc. boosted its stake in Park Hotels & Resorts by 13.9% during the fourth quarter. Donald Smith & CO. Inc. now owns 9,200,125 shares of the financial services provider's stock worth $129,446,000 after buying an additional 1,122,839 shares during the last quarter. National Bank of Canada FI purchased a new stake in Park Hotels & Resorts in the 4th quarter valued at $14,890,000. Arrowstreet Capital Limited Partnership increased its stake in shares of Park Hotels & Resorts by 18.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 6,692,233 shares of the financial services provider's stock worth $94,160,000 after acquiring an additional 1,056,188 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in shares of Park Hotels & Resorts by 303.3% during the 4th quarter. Russell Investments Group Ltd. now owns 1,154,251 shares of the financial services provider's stock worth $16,242,000 after acquiring an additional 868,061 shares during the period. Hedge funds and other institutional investors own 92.69% of the company's stock.
Park Hotels & Resorts Trading Up 3.0 %
Shares of PK stock traded up $0.29 on Friday, hitting $9.84. The stock had a trading volume of 4,987,504 shares, compared to its average volume of 3,254,845. The company's 50 day moving average price is $11.31 and its 200-day moving average price is $13.31. Park Hotels & Resorts Inc. has a 1 year low of $8.27 and a 1 year high of $16.95. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.19 and a quick ratio of 1.51. The firm has a market capitalization of $1.99 billion, a P/E ratio of 9.74, a P/E/G ratio of 1.51 and a beta of 1.73.
Park Hotels & Resorts (NYSE:PK - Get Free Report) last released its earnings results on Wednesday, February 19th. The financial services provider reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.01). The firm had revenue of $625.00 million during the quarter, compared to analyst estimates of $609.05 million. Park Hotels & Resorts had a net margin of 8.16% and a return on equity of 5.63%. Analysts anticipate that Park Hotels & Resorts Inc. will post 2.11 earnings per share for the current year.
Park Hotels & Resorts Cuts Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.00 annualized dividend and a yield of 10.17%. Park Hotels & Resorts's dividend payout ratio is presently 99.01%.
Wall Street Analysts Forecast Growth
PK has been the subject of a number of analyst reports. Wells Fargo & Company dropped 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 report on Tuesday, February 18th. StockNews.com lowered shares of Park Hotels & Resorts from a "hold" rating to a "sell" rating in a research report on Thursday, April 10th. UBS Group lowered their price objective on Park Hotels & Resorts from $15.00 to $13.00 and set a "neutral" rating for the company in a research report on Monday, February 3rd. Jefferies Financial Group downgraded Park Hotels & Resorts from a "buy" rating to a "hold" rating and reduced their target price for the company from $19.00 to $10.00 in a research report on Wednesday, April 9th. Finally, Truist Financial lowered their price target on Park Hotels & Resorts from $18.00 to $16.00 and set a "buy" rating for the company in a report on Friday, March 21st. One investment 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. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $16.39.
View Our Latest Report on PK
About Park Hotels & Resorts
(
Free Report)
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.
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