Park Hotels & Resorts Inc. (NYSE:PK) Stock Holdings Lessened by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. reduced its holdings in Park Hotels & Resorts Inc. (NYSE:PK) by 77.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 228,739 shares of the financial services provider’s stock after selling 806,343 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Park Hotels & Resorts were worth $3,218,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Harbor Capital Advisors Inc. bought a new position in shares of Park Hotels & Resorts in the 3rd quarter worth about $33,000. Venturi Wealth Management LLC lifted 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 valued at $54,000 after purchasing an additional 2,841 shares during the last quarter. Claro Advisors LLC bought a new stake in Park Hotels & Resorts in the 3rd quarter valued at about $69,000. Covestor Ltd lifted its position in Park Hotels & Resorts by 64.8% in the 3rd quarter. Covestor Ltd now owns 6,894 shares of the financial services provider’s stock valued at $97,000 after purchasing an additional 2,711 shares during the last quarter. Finally, KBC Group NV lifted its position in Park Hotels & Resorts by 34.4% in the 3rd quarter. KBC Group NV now owns 7,360 shares of the financial services provider’s stock valued at $104,000 after purchasing an additional 1,882 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PK has been the topic of several recent research reports. Wells Fargo & Company lifted their price objective on shares of Park Hotels & Resorts from $16.00 to $17.00 and gave the company an “equal weight” rating in a research report on Monday, December 9th. 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. StockNews.com upgraded shares of Park Hotels & Resorts from a “sell” rating to a “hold” rating in a research report on Thursday. Jefferies Financial Group cut their price objective on shares of Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating on the stock in a research report on Thursday, January 2nd. Finally, UBS Group cut their price objective on shares of Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating on the stock in a research report on Monday, February 3rd. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $18.45.

Park Hotels & Resorts Stock Up 0.5 %

Park Hotels & Resorts stock opened at $12.78 on Friday. The stock has a market cap of $2.64 billion, a price-to-earnings ratio of 8.14 and a beta of 2.00. 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’s 50-day moving average price is $14.14 and its two-hundred day moving average price is $14.39. Park Hotels & Resorts Inc. has a 52 week low of $12.56 and a 52 week high of $18.05.

Park Hotels & Resorts Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a $0.65 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $2.60 annualized dividend and a dividend yield of 20.35%. This is a boost from Park Hotels & Resorts’s previous quarterly dividend of $0.25. Park Hotels & Resorts’s payout ratio is currently 63.69%.

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.