Wilmington Savings Fund Society FSB Makes New Investment in Park Hotels & Resorts Inc. (NYSE:PK)

Wilmington Savings Fund Society FSB purchased a new stake in shares of Park Hotels & Resorts Inc. (NYSE:PK - Free Report) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund purchased 33,819 shares of the financial services provider's stock, valued at approximately $477,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Algert Global LLC raised its position in Park Hotels & Resorts by 48.6% in the second quarter. Algert Global LLC now owns 752,273 shares of the financial services provider's stock valued at $11,269,000 after purchasing an additional 245,973 shares during the last quarter. Quantbot Technologies LP increased its stake in shares of Park Hotels & Resorts by 95.7% in the second quarter. Quantbot Technologies LP now owns 367,900 shares of the financial services provider's stock valued at $5,511,000 after buying an additional 179,884 shares during the period. XTX Topco Ltd raised its holdings in Park Hotels & Resorts by 420.7% in the 3rd quarter. XTX Topco Ltd now owns 89,168 shares of the financial services provider's stock valued at $1,257,000 after buying an additional 72,044 shares during the last quarter. National Bank of Canada FI boosted its position in Park Hotels & Resorts by 70.9% during the 2nd quarter. National Bank of Canada FI now owns 223,600 shares of the financial services provider's stock worth $3,298,000 after buying an additional 92,800 shares during the period. Finally, AQR Capital Management LLC grew its holdings in Park Hotels & Resorts by 287.7% during 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 acquiring an additional 3,897,889 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PK. Wells Fargo & Company lifted their price target on shares of Park Hotels & Resorts from $16.00 to $17.00 and gave the stock an "equal weight" rating in a report on Monday, December 9th. Compass Point reduced their price target on 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. Bank of America lowered their price objective on Park Hotels & Resorts from $17.00 to $16.50 and set a "neutral" rating for the company in a research report on Monday, October 21st. UBS Group upped their target price on Park Hotels & Resorts from $14.00 to $15.00 and gave the company a "neutral" rating in a report on Monday, November 18th. Finally, StockNews.com lowered shares of Park Hotels & Resorts from a "hold" rating to a "sell" rating in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $18.55.

Park Hotels & Resorts Stock Up 0.6 %

NYSE PK traded up $0.09 on Tuesday, hitting $15.49. 2,234,212 shares of the company were exchanged, compared to its average volume of 2,785,458. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 1.24. The company has a market cap of $3.20 billion, a PE ratio of 9.80, a PEG ratio of 6.90 and a beta of 2.03. The stock has a fifty day moving average of $14.73 and a 200-day moving average of $14.68. Park Hotels & Resorts Inc. has a 12 month low of $13.23 and a 12 month high of $18.05.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last issued its 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 firm had revenue of $649.00 million during the quarter, compared to analyst estimates of $646.15 million. During the same quarter in the prior year, the business earned $0.51 earnings per share. The business's quarterly revenue was down 4.4% on a year-over-year basis. As a group, analysts forecast that Park Hotels & Resorts Inc. will post 1.96 earnings per share for the current year.

Park Hotels & Resorts Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 16.79%. The ex-dividend date of this dividend is Tuesday, December 31st. This is a positive change from Park Hotels & Resorts's previous quarterly dividend of $0.25. Park Hotels & Resorts's payout ratio is 63.69%.

About Park Hotels & Resorts

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.