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UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $19.88 Million Position in Park Hotels & Resorts Inc. (NYSE:PK)

Park Hotels & Resorts logo with Finance background

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 321.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,409,574 shares of the financial services provider's stock after acquiring an additional 1,075,255 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.68% of Park Hotels & Resorts worth $19,875,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Harbor Capital Advisors Inc. acquired a new position in shares of Park Hotels & Resorts in the third quarter worth $33,000. Venturi Wealth Management LLC increased its position in Park Hotels & Resorts by 281.6% in the 3rd quarter. Venturi Wealth Management LLC now owns 3,850 shares of the financial services provider's stock worth $54,000 after purchasing an additional 2,841 shares during the last quarter. Quarry LP increased its position in Park Hotels & Resorts by 82.1% in the 2nd quarter. Quarry LP now owns 4,118 shares of the financial services provider's stock worth $62,000 after purchasing an additional 1,857 shares during the last quarter. Claro Advisors LLC purchased a new stake in shares of Park Hotels & Resorts during the 3rd quarter worth about $69,000. Finally, Covestor Ltd lifted its holdings in shares of Park Hotels & Resorts by 64.8% during the 3rd quarter. Covestor Ltd now owns 6,894 shares of the financial services provider's stock valued at $97,000 after buying an additional 2,711 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company's stock.

Park Hotels & Resorts Price Performance

Shares of NYSE:PK traded down $0.10 during midday trading on Friday, reaching $15.65. The company's stock had a trading volume of 2,411,998 shares, compared to its average volume of 2,778,020. The business's fifty day simple moving average is $14.56 and its 200-day simple moving average is $14.72. 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. The company has a market capitalization of $3.23 billion, a P/E ratio of 9.97, a P/E/G ratio of 7.10 and a beta of 2.03.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $0.26 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.21). Park Hotels & Resorts had a net margin of 12.66% and a return on equity of 9.63%. The company had revenue of $649.00 million for the quarter, compared to the consensus estimate of $646.15 million. During the same period last year, the company earned $0.51 earnings per share. Park Hotels & Resorts's revenue for the quarter was down 4.4% compared to the same quarter last year. As a group, equities research analysts expect that Park Hotels & Resorts Inc. will post 1.97 EPS for the current fiscal year.

Park Hotels & Resorts Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.65 per share. This is a boost from Park Hotels & Resorts's previous quarterly dividend of $0.25. The ex-dividend date is Tuesday, December 31st. This represents a $2.60 annualized dividend and a dividend yield of 16.62%. Park Hotels & Resorts's payout ratio is currently 63.69%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Wolfe Research downgraded Park Hotels & Resorts from an "outperform" rating to a "peer perform" rating in a research note on Thursday, September 26th. Compass Point decreased their target price on Park Hotels & Resorts from $25.00 to $20.00 and set a "buy" rating for the company in a research report on Thursday, October 31st. Evercore ISI dropped their price target on shares of Park Hotels & Resorts from $20.00 to $19.00 and set an "outperform" rating on the stock in a research report on Tuesday, August 13th. Wells Fargo & Company upped their price objective on shares of Park Hotels & Resorts from $14.50 to $16.00 and gave the stock an "equal weight" rating in a report on Tuesday, November 26th. Finally, StockNews.com downgraded shares of Park Hotels & Resorts from a "hold" rating to a "sell" rating in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $18.23.

Read Our Latest Analysis on PK

Park Hotels & Resorts Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Park Hotels & Resorts (NYSE:PK)

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