Invesco Ltd. Boosts Holdings in Park Hotels & Resorts Inc. (NYSE:PK)

Invesco Ltd. boosted its holdings in Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 84.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,837,917 shares of the financial services provider's stock after acquiring an additional 1,295,548 shares during the period. Invesco Ltd. owned 1.37% of Park Hotels & Resorts worth $39,929,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in PK. Norges Bank purchased a new stake in shares of Park Hotels & Resorts in the fourth quarter valued at $41,087,000. Donald Smith & CO. Inc. boosted its stake in shares of Park Hotels & Resorts by 13.9% during the 4th quarter. Donald Smith & CO. Inc. now owns 9,200,125 shares of the financial services provider's stock worth $129,446,000 after purchasing an additional 1,122,839 shares during the last quarter. National Bank of Canada FI purchased a new stake in shares of Park Hotels & Resorts during the fourth quarter worth about $14,890,000. Arrowstreet Capital Limited Partnership grew its holdings in shares of Park Hotels & Resorts by 18.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 6,692,233 shares of the financial services provider's stock worth $94,160,000 after buying an additional 1,056,188 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its position in shares of Park Hotels & Resorts by 303.3% in the fourth quarter. Russell Investments Group Ltd. now owns 1,154,251 shares of the financial services provider's stock valued at $16,242,000 after buying an additional 868,061 shares during the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Park Hotels & Resorts Trading Up 1.2 %

NYSE PK traded up $0.12 during mid-day trading on Tuesday, hitting $9.80. The company's stock had a trading volume of 3,586,463 shares, compared to its average volume of 3,273,602. The firm has a market capitalization of $1.98 billion, a P/E ratio of 9.70, a price-to-earnings-growth ratio of 1.51 and a beta of 1.73. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.19 and a quick ratio of 1.51. Park Hotels & Resorts Inc. has a 52-week low of $8.27 and a 52-week high of $16.95. The stock's fifty day simple moving average is $11.13 and its two-hundred day simple moving average is $13.21.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last released its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.01). The business had revenue of $625.00 million during the quarter, compared to analyst estimates of $609.05 million. Park Hotels & Resorts had a return on equity of 5.63% and a net margin of 8.16%. Research analysts expect that Park Hotels & Resorts Inc. will post 2.11 EPS for the current year.

Park Hotels & Resorts Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 10.21%. The ex-dividend date of this dividend was Monday, March 31st. Park Hotels & Resorts's dividend payout ratio is presently 99.01%.

Analyst Upgrades and Downgrades

Several research firms have commented on PK. Jefferies Financial Group cut shares of Park Hotels & Resorts from a "buy" rating to a "hold" rating and lowered their target price for the stock from $19.00 to $10.00 in a research note on Wednesday, April 9th. StockNews.com lowered Park Hotels & Resorts from a "hold" rating to a "sell" rating in a research note on Thursday, April 10th. Truist Financial decreased their price target on Park Hotels & Resorts from $18.00 to $16.00 and set a "buy" rating on the stock in a research note on Friday, March 21st. Morgan Stanley dropped their price objective on shares of Park Hotels & Resorts from $12.00 to $10.00 and set an "equal weight" rating for the company in a research note on Tuesday. Finally, UBS Group decreased their target price on shares of Park Hotels & Resorts from $15.00 to $13.00 and set a "neutral" rating on the stock in a research report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $15.75.

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.