National Bank of Canada FI Buys Shares of 1,058,300 Park Hotels & Resorts Inc. (NYSE:PK)

National Bank of Canada FI acquired a new stake in Park Hotels & Resorts Inc. (NYSE:PK - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,058,300 shares of the financial services provider's stock, valued at approximately $14,890,000. National Bank of Canada FI owned about 0.51% of Park Hotels & Resorts at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wealth Enhancement Advisory Services LLC increased its position in shares of Park Hotels & Resorts by 0.9% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 79,994 shares of the financial services provider's stock valued at $1,128,000 after buying an additional 752 shares during the period. Assetmark Inc. grew its position in shares of Park Hotels & Resorts by 3.4% during the 4th quarter. Assetmark Inc. now owns 23,355 shares of the financial services provider's stock valued at $329,000 after purchasing an additional 764 shares in the last quarter. Xponance Inc. raised its position in shares of Park Hotels & Resorts by 3.8% in the fourth quarter. Xponance Inc. now owns 24,650 shares of the financial services provider's stock worth $347,000 after buying an additional 892 shares in the last quarter. Cascade Investment Advisors Inc. boosted its stake in Park Hotels & Resorts by 1.3% during the fourth quarter. Cascade Investment Advisors Inc. now owns 73,487 shares of the financial services provider's stock valued at $1,034,000 after buying an additional 915 shares during the period. Finally, Asset Management One Co. Ltd. grew its position in Park Hotels & Resorts by 0.3% during the fourth quarter. Asset Management One Co. Ltd. now owns 338,032 shares of the financial services provider's stock worth $5,043,000 after buying an additional 1,011 shares in the last quarter. 92.69% of the stock is owned by institutional investors.

Park Hotels & Resorts Stock Down 10.1 %

PK stock traded down $1.02 during midday trading on Thursday, hitting $9.05. The company's stock had a trading volume of 1,169,282 shares, compared to its average volume of 4,130,652. The company has a market cap of $1.83 billion, a PE ratio of 8.98, a P/E/G ratio of 1.51 and a beta of 1.73. The firm's 50-day moving average is $11.73 and its 200-day moving average is $13.51. Park Hotels & Resorts Inc. has a 12 month low of $8.27 and a 12 month high of $17.63. The company has a current ratio of 1.19, a quick ratio of 1.51 and a debt-to-equity ratio of 1.27.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last issued its earnings results 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 business had revenue of $625.00 million during the quarter, compared to analysts' expectations of $609.05 million. On average, equities research analysts forecast 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 declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 11.05%. Park Hotels & Resorts's dividend payout ratio (DPR) is currently 99.01%.

Analysts Set New Price Targets

PK has been the subject of several research analyst reports. Wells Fargo & Company dropped their target price on shares of Park Hotels & Resorts from $17.00 to $14.00 and set an "equal weight" rating for the company in a research report on Tuesday, February 18th. UBS Group decreased their price objective on Park Hotels & Resorts from $15.00 to $13.00 and set a "neutral" rating on the stock in a report on Monday, February 3rd. Truist Financial decreased their target price on shares of Park Hotels & Resorts from $18.00 to $16.00 and set a "buy" rating on the stock in a research report on Friday, March 21st. StockNews.com downgraded Park Hotels & Resorts from a "hold" rating to a "sell" rating in a report on Friday, February 21st. Finally, Jefferies Financial Group cut Park Hotels & Resorts from a "buy" rating to a "hold" rating and dropped their target price for the company from $19.00 to $10.00 in a report on Wednesday. One equities research 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. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $16.39.

Park Hotels & Resorts Profile

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.