15,893 Shares in Park Hotels & Resorts Inc. (NYSE:PK) Bought by EP Wealth Advisors LLC

EP Wealth Advisors LLC acquired a new stake in shares of Park Hotels & Resorts Inc. (NYSE:PK) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 15,893 shares of the financial services provider’s stock, valued at approximately $224,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Donald Smith & CO. Inc. increased its position in shares of Park Hotels & Resorts by 22.5% during the 3rd quarter. Donald Smith & CO. Inc. now owns 8,077,286 shares of the financial services provider’s stock valued at $113,890,000 after purchasing an additional 1,484,295 shares during the last quarter. AQR Capital Management LLC boosted its stake in Park Hotels & Resorts by 287.7% during the second quarter. AQR Capital Management LLC now owns 5,252,853 shares of the financial services provider’s stock worth $77,217,000 after buying an additional 3,897,889 shares during the period. Dimensional Fund Advisors LP increased its position in Park Hotels & Resorts by 3.8% during the second quarter. Dimensional Fund Advisors LP now owns 3,113,325 shares of the financial services provider’s stock valued at $46,638,000 after acquiring an additional 115,391 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Park Hotels & Resorts by 2.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,902,728 shares of the financial services provider’s stock valued at $40,928,000 after acquiring an additional 66,093 shares during the last quarter. Finally, Jupiter Asset Management Ltd. raised its stake in shares of Park Hotels & Resorts by 286.9% in the second quarter. Jupiter Asset Management Ltd. now owns 2,597,091 shares of the financial services provider’s stock valued at $38,904,000 after acquiring an additional 1,925,850 shares during the period. 92.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on PK shares. StockNews.com downgraded shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. Wells Fargo & Company upped their target price on Park Hotels & Resorts from $16.00 to $17.00 and gave the company an “equal weight” rating in a research note on Monday, December 9th. Wolfe Research lowered Park Hotels & Resorts from an “outperform” rating to a “peer perform” rating in a research note on Thursday, September 26th. Bank of America cut their price objective on Park Hotels & Resorts from $17.00 to $16.50 and set a “neutral” rating on the stock in a research report on Monday, October 21st. Finally, Compass Point reduced their target price on 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. One 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. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $18.55.

Park Hotels & Resorts Stock Performance

Shares of Park Hotels & Resorts stock opened at $15.28 on Friday. 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 stock’s fifty day moving average price is $14.70 and its 200-day moving average price is $14.69. The firm has a market cap of $3.15 billion, a P/E ratio of 9.73, a P/E/G ratio of 7.02 and a beta of 2.03. 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) last posted its earnings results on Tuesday, October 29th. The financial services provider reported $0.26 EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $649.00 million for the quarter, compared to analysts’ expectations of $646.15 million. During the same period last year, the business posted $0.51 EPS. The company’s revenue for the quarter was down 4.4% on a year-over-year basis. On average, equities research analysts expect that Park Hotels & Resorts Inc. will post 1.96 earnings per share for the current fiscal year.

Park Hotels & Resorts Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.65 per share. The ex-dividend date is Tuesday, December 31st. This represents a $2.60 dividend on an annualized basis and a yield of 17.02%. This is a positive change from Park Hotels & Resorts’s previous quarterly dividend of $0.25. Park Hotels & Resorts’s dividend payout ratio is currently 63.69%.

Park Hotels & Resorts Company Profile

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.