New York State Teachers Retirement System Sells 10,785 Shares of Park Hotels & Resorts Inc. (NYSE:PK)

New York State Teachers Retirement System trimmed its stake in Park Hotels & Resorts Inc. (NYSE:PK) by 3.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 299,025 shares of the financial services provider’s stock after selling 10,785 shares during the period. New York State Teachers Retirement System’s holdings in Park Hotels & Resorts were worth $4,207,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. XTX Topco Ltd raised its holdings in shares of Park Hotels & Resorts by 420.7% during the third quarter. XTX Topco Ltd now owns 89,168 shares of the financial services provider’s stock valued at $1,257,000 after purchasing an additional 72,044 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Park Hotels & Resorts by 488.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 83,473 shares of the financial services provider’s stock valued at $1,177,000 after acquiring an additional 69,296 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Park Hotels & Resorts by 321.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,409,574 shares of the financial services provider’s stock worth $19,875,000 after buying an additional 1,075,255 shares during the period. Donald Smith & CO. Inc. increased its stake in Park Hotels & Resorts by 22.5% in the 3rd quarter. Donald Smith & CO. Inc. now owns 8,077,286 shares of the financial services provider’s stock worth $113,890,000 after buying an additional 1,484,295 shares during the period. Finally, JPMorgan Chase & Co. increased its position in Park Hotels & Resorts by 18.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,488,097 shares of the financial services provider’s stock valued at $49,182,000 after purchasing an additional 540,920 shares during the period. 92.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on PK. StockNews.com cut shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research note on Friday. Jefferies Financial Group lowered their target price on shares of Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating on the stock in a research note on Thursday, January 2nd. Wells Fargo & Company decreased their target price on shares of Park Hotels & Resorts from $17.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Compass Point cut their target price on shares of Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Finally, UBS Group dropped their price target on shares of Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating on the stock in a research note on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Park Hotels & Resorts presently has a consensus rating of “Hold” and a consensus target price of $18.15.

Park Hotels & Resorts Price Performance

Shares of NYSE PK opened at $13.03 on Friday. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.51 and a quick ratio of 1.51. The stock has a fifty day moving average price of $13.82 and a 200 day moving average price of $14.31. Park Hotels & Resorts Inc. has a 1-year low of $12.56 and a 1-year high of $18.05. The company has a market cap of $2.69 billion, a PE ratio of 8.30, a P/E/G ratio of 1.51 and a beta of 2.00.

Park Hotels & Resorts (NYSE:PK) last released its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.01). The business had revenue of $625.00 million during the quarter, compared to analysts’ expectations of $609.05 million. Park Hotels & Resorts had a return on equity of 9.63% and a net margin of 12.66%. Sell-side analysts forecast that Park Hotels & Resorts Inc. will post 1.97 EPS for the current year.

Park Hotels & Resorts Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 7.68%. The ex-dividend date of this dividend is Monday, March 31st. Park Hotels & Resorts’s dividend 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.