Sumitomo Mitsui Trust Group Inc. Has $2.42 Million Stock Holdings in Park Hotels & Resorts Inc. (NYSE:PK)

Sumitomo Mitsui Trust Group Inc. lessened its position in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 0.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 226,658 shares of the financial services provider’s stock after selling 2,081 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.11% of Park Hotels & Resorts worth $2,421,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in PK. UMB Bank n.a. increased its stake in shares of Park Hotels & Resorts by 140.9% in the 1st quarter. UMB Bank n.a. now owns 2,385 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 1,395 shares during the last quarter. Versant Capital Management Inc increased its stake in shares of Park Hotels & Resorts by 11,039.1% in the 1st quarter. Versant Capital Management Inc now owns 2,562 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 2,539 shares during the last quarter. Quarry LP bought a new stake in shares of Park Hotels & Resorts in the 4th quarter valued at about $35,000. GF Fund Management CO. LTD. bought a new stake in shares of Park Hotels & Resorts in the 4th quarter valued at about $53,000. Finally, GAMMA Investing LLC increased its stake in shares of Park Hotels & Resorts by 401.2% in the 1st quarter. GAMMA Investing LLC now owns 5,283 shares of the financial services provider’s stock valued at $56,000 after acquiring an additional 4,229 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Park Hotels & Resorts Price Performance

Shares of PK opened at $10.82 on Friday. The firm has a market cap of $2.16 billion, a PE ratio of 18.33, a price-to-earnings-growth ratio of 1.43 and a beta of 1.72. Park Hotels & Resorts Inc. has a 52-week low of $8.27 and a 52-week high of $16.23. The business’s 50 day moving average price is $10.37 and its two-hundred day moving average price is $11.65. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.07 and a current ratio of 1.07.

Park Hotels & Resorts (NYSE:PK) last issued its earnings results on Monday, May 5th. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.05. Park Hotels & Resorts had a return on equity of 2.65% and a net margin of 4.90%. The company had revenue of $630.00 million for the quarter, compared to analysts’ expectations of $620.17 million. During the same period last year, the business earned $0.52 EPS. Park Hotels & Resorts’s quarterly revenue was down 1.4% compared to the same quarter last year. On average, equities analysts anticipate that Park Hotels & Resorts Inc. will post 2.11 EPS for the current year.

Park Hotels & Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 9.25%. The ex-dividend date is Monday, June 30th. Park Hotels & Resorts’s dividend payout ratio (DPR) is presently 169.49%.

Wall Street Analyst Weigh In

PK has been the subject of a number of research reports. Truist Financial cut Park Hotels & Resorts from a “buy” rating to a “hold” rating and lowered their target price for the stock from $16.00 to $11.00 in a research note on Friday, May 30th. Morgan Stanley decreased their price target on shares of Park Hotels & Resorts from $12.00 to $10.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 22nd. Wells Fargo & Company increased their price objective on Park Hotels & Resorts from $10.00 to $11.00 and gave the company an “equal weight” rating in a report on Tuesday. Jefferies Financial Group downgraded Park Hotels & Resorts from a “buy” rating to a “hold” rating and cut their price objective for the company from $19.00 to $10.00 in a report on Wednesday, April 9th. Finally, Wall Street Zen downgraded Park Hotels & Resorts from a “hold” rating to a “sell” rating in a report on Thursday, April 10th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Park Hotels & Resorts presently has an average rating of “Hold” and a consensus target price of $12.11.

Park Hotels & Resorts Company 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.