Mitsubishi UFJ Trust & Banking Corp Reduces Holdings in Park Hotels & Resorts Inc. (NYSE:PK)

Mitsubishi UFJ Trust & Banking Corp decreased its holdings in shares of Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 18.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 113,568 shares of the financial services provider's stock after selling 25,683 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned about 0.06% of Park Hotels & Resorts worth $1,598,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Park Hotels & Resorts by 321.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,409,574 shares of the financial services provider's stock worth $19,875,000 after purchasing an additional 1,075,255 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Park Hotels & Resorts by 18.4% in the third quarter. JPMorgan Chase & Co. now owns 3,488,097 shares of the financial services provider's stock worth $49,182,000 after buying an additional 540,920 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Park Hotels & Resorts by 26.9% in the fourth quarter. Bank of New York Mellon Corp now owns 2,443,752 shares of the financial services provider's stock worth $34,384,000 after buying an additional 518,727 shares during the period. LPL Financial LLC lifted its stake in shares of Park Hotels & Resorts by 898.1% during the 4th quarter. LPL Financial LLC now owns 377,605 shares of the financial services provider's stock worth $5,313,000 after acquiring an additional 339,773 shares during the last quarter. Finally, ING Groep NV purchased a new position in Park Hotels & Resorts during the 4th quarter valued at $3,518,000. Institutional investors own 92.69% of the company's stock.

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Park Hotels & Resorts Stock Down 3.3 %

Park Hotels & Resorts stock traded down $0.32 during mid-day trading on Friday, reaching $9.40. 8,694,072 shares of the company were exchanged, compared to its average volume of 3,087,761. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.51 and a current ratio of 1.19. The firm has a market cap of $1.90 billion, a P/E ratio of 9.31, a PEG ratio of 1.51 and a beta of 1.73. The business has a fifty day moving average of $12.14 and a 200 day moving average of $13.70. Park Hotels & Resorts Inc. has a 12-month low of $8.73 and a 12-month high of $17.87.

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

Park Hotels & Resorts Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 10.64%. The ex-dividend date of this dividend is Monday, March 31st. Park Hotels & Resorts's payout ratio is currently 99.01%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PK. UBS Group reduced their target price on Park Hotels & Resorts from $15.00 to $13.00 and set a "neutral" rating on the stock in a research note on Monday, February 3rd. Jefferies Financial Group decreased their price objective on shares of Park Hotels & Resorts from $23.00 to $22.00 and set a "buy" rating for the company in a report on Thursday, January 2nd. StockNews.com cut shares of Park Hotels & Resorts from a "hold" rating to a "sell" rating in a research report on Friday, February 21st. Wells Fargo & Company reduced their target price on shares of Park Hotels & Resorts from $17.00 to $14.00 and set an "equal weight" rating on the stock in a research report on Tuesday, February 18th. Finally, Truist Financial decreased their price target on shares of Park Hotels & Resorts from $18.00 to $16.00 and set a "buy" rating for the company in a research note on Friday, March 21st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $17.72.

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.