Oak Thistle LLC Purchases Shares of 28,450 Park Hotels & Resorts Inc. (NYSE:PK)

Oak Thistle LLC purchased a new stake in shares of Park Hotels & Resorts Inc. (NYSE:PKFree Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 28,450 shares of the financial services provider’s stock, valued at approximately $435,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. boosted its stake in Park Hotels & Resorts by 74.0% during the 4th quarter. Pacer Advisors Inc. now owns 31,566 shares of the financial services provider’s stock valued at $483,000 after purchasing an additional 13,428 shares in the last quarter. Cooper Financial Group acquired a new stake in shares of Park Hotels & Resorts during the 4th quarter valued at $206,000. FNY Investment Advisers LLC acquired a new stake in shares of Park Hotels & Resorts during the 4th quarter valued at $42,000. Cascade Investment Advisors Inc. lifted its position in shares of Park Hotels & Resorts by 1.1% during the 4th quarter. Cascade Investment Advisors Inc. now owns 66,222 shares of the financial services provider’s stock valued at $1,013,000 after acquiring an additional 725 shares during the last quarter. Finally, Sound Income Strategies LLC lifted its position in shares of Park Hotels & Resorts by 8.6% during the 4th quarter. Sound Income Strategies LLC now owns 659,608 shares of the financial services provider’s stock valued at $10,092,000 after acquiring an additional 52,086 shares during the last quarter. 92.69% of the stock is owned by institutional investors.

Park Hotels & Resorts Price Performance

Shares of NYSE:PK opened at $17.17 on Thursday. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 1.19. Park Hotels & Resorts Inc. has a 1 year low of $11.05 and a 1 year high of $18.05. The business has a fifty day simple moving average of $16.37 and a 200 day simple moving average of $14.87. The firm has a market cap of $3.61 billion, a price-to-earnings ratio of 37.33, a P/E/G ratio of 0.66 and a beta of 2.03.

Park Hotels & Resorts (NYSE:PKGet Free Report) last announced its quarterly earnings data on Tuesday, February 27th. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.39. Park Hotels & Resorts had a return on equity of 2.44% and a net margin of 3.60%. The business had revenue of $657.00 million during the quarter, compared to analyst estimates of $665.16 million. As a group, sell-side analysts predict that Park Hotels & Resorts Inc. will post 2 earnings per share for the current fiscal year.

Park Hotels & Resorts Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Friday, March 29th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 5.82%. This is a positive change from Park Hotels & Resorts’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Wednesday, March 27th. Park Hotels & Resorts’s dividend payout ratio (DPR) is currently 217.39%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on PK shares. Citigroup upgraded Park Hotels & Resorts from a “neutral” rating to a “buy” rating and increased their price objective for the company from $14.00 to $20.00 in a research report on Friday, March 22nd. JPMorgan Chase & Co. upgraded Park Hotels & Resorts from an “underweight” rating to a “neutral” rating and increased their price objective for the company from $11.00 to $16.00 in a research report on Thursday, December 14th. Barclays increased their price objective on Park Hotels & Resorts from $19.00 to $21.00 and gave the company an “overweight” rating in a research report on Friday, March 1st. UBS Group increased their target price on Park Hotels & Resorts from $14.00 to $18.00 and gave the company a “neutral” rating in a report on Wednesday, March 6th. Finally, Wells Fargo & Company increased their target price on Park Hotels & Resorts from $17.00 to $18.00 and gave the company an “equal weight” rating in a report on Thursday, March 21st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Park Hotels & Resorts presently has a consensus rating of “Hold” and a consensus target price of $17.58.

Read Our Latest Research Report 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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