Park Hotels & Resorts Inc. (NYSE:PK) Stock Holdings Decreased by Quantbot Technologies LP

Quantbot Technologies LP trimmed its stake in shares of Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 91.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,072 shares of the financial services provider's stock after selling 335,828 shares during the quarter. Quantbot Technologies LP's holdings in Park Hotels & Resorts were worth $452,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. AQR Capital Management LLC lifted its position in shares of Park Hotels & Resorts by 287.7% in the 2nd quarter. AQR Capital Management LLC now owns 5,252,853 shares of the financial services provider's stock worth $77,217,000 after buying an additional 3,897,889 shares during the last quarter. Jupiter Asset Management Ltd. lifted its position in shares of Park Hotels & Resorts by 286.9% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 2,597,091 shares of the financial services provider's stock worth $38,904,000 after buying an additional 1,925,850 shares during the last quarter. Donald Smith & CO. Inc. lifted its position in shares of Park Hotels & Resorts by 22.5% in the 3rd quarter. Donald Smith & CO. Inc. now owns 8,077,286 shares of the financial services provider's stock worth $113,890,000 after buying an additional 1,484,295 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Park Hotels & Resorts by 345.9% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,035,082 shares of the financial services provider's stock worth $14,595,000 after buying an additional 802,939 shares during the last quarter. Finally, Foundry Partners LLC bought a new position in shares of Park Hotels & Resorts in the 3rd quarter worth about $9,238,000. 92.69% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on PK shares. Truist Financial reduced their price target on shares of Park Hotels & Resorts from $20.00 to $18.00 and set a "buy" rating on the stock in a research report on Wednesday, September 4th. Wells Fargo & Company lifted their price objective on shares of Park Hotels & Resorts from $14.50 to $16.00 and gave the company an "equal weight" rating in a research report on Tuesday, November 26th. Bank of America cut their price objective on shares of Park Hotels & Resorts from $17.00 to $16.50 and set a "neutral" rating on the stock in a research report on Monday, October 21st. UBS Group lifted their price objective on shares of Park Hotels & Resorts from $14.00 to $15.00 and gave the company a "neutral" rating in a research report on Monday, November 18th. Finally, Compass Point cut their price objective on shares of Park Hotels & Resorts from $25.00 to $20.00 and set a "buy" rating on the stock in a research report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $18.23.

Park Hotels & Resorts Price Performance

Shares of PK traded up $0.01 during mid-day trading on Wednesday, hitting $15.82. The company's stock had a trading volume of 2,912,425 shares, compared to its average volume of 2,771,010. The firm has a 50-day moving average price of $14.53 and a 200 day moving average price of $14.71. The stock has a market capitalization of $3.27 billion, a price-to-earnings ratio of 10.08, a PEG ratio of 6.91 and a beta of 2.03. 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 fifty-two week low of $13.23 and a fifty-two week high of $18.05.

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 (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.21). The business had revenue of $649.00 million during the quarter, compared to analyst estimates of $646.15 million. Park Hotels & Resorts had a return on equity of 9.63% and a net margin of 12.66%. The business's revenue for the quarter was down 4.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.51 EPS. On average, research analysts predict that Park Hotels & Resorts Inc. will post 1.97 EPS for the current fiscal year.

Park Hotels & Resorts Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a $0.65 dividend. This is an increase from Park Hotels & Resorts's previous quarterly dividend of $0.25. This represents a $2.60 annualized dividend and a dividend yield of 16.43%. The ex-dividend date is Tuesday, December 31st. Park Hotels & Resorts's dividend payout ratio (DPR) 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.