Public Employees Retirement System of Ohio Lowers Stock Holdings in Park Hotels & Resorts Inc. (NYSE:PK)

Public Employees Retirement System of Ohio decreased its holdings in Park Hotels & Resorts Inc. (NYSE:PK) by 1.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 388,094 shares of the financial services provider’s stock after selling 3,855 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Park Hotels & Resorts were worth $5,472,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Algert Global LLC raised its holdings in Park Hotels & Resorts by 48.6% in the second quarter. Algert Global LLC now owns 752,273 shares of the financial services provider’s stock valued at $11,269,000 after buying an additional 245,973 shares during the period. Quantbot Technologies LP lifted its holdings in Park Hotels & Resorts by 95.7% in the 2nd quarter. Quantbot Technologies LP now owns 367,900 shares of the financial services provider’s stock worth $5,511,000 after buying an additional 179,884 shares in the last quarter. National Bank of Canada FI boosted its holdings in Park Hotels & Resorts by 70.9% in the second quarter. National Bank of Canada FI now owns 223,600 shares of the financial services provider’s stock valued at $3,298,000 after purchasing an additional 92,800 shares during the last quarter. AQR Capital Management LLC boosted its stake in Park Hotels & Resorts by 287.7% during the 2nd quarter. AQR Capital Management LLC now owns 5,252,853 shares of the financial services provider’s stock valued at $77,217,000 after acquiring an additional 3,897,889 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Park Hotels & Resorts by 488.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 83,473 shares of the financial services provider’s stock worth $1,177,000 after purchasing an additional 69,296 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on PK. Wolfe Research lowered shares of Park Hotels & Resorts from an “outperform” rating to a “peer perform” rating in a report on Thursday, September 26th. Wells Fargo & Company raised their target price on shares of 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. Compass Point dropped their price objective 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. StockNews.com lowered shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. Finally, UBS Group lifted their price target on Park Hotels & Resorts from $14.00 to $15.00 and gave the stock a “neutral” rating in a research note on Monday, November 18th. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $18.55.

Park Hotels & Resorts Trading Down 0.7 %

NYSE PK 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. Park Hotels & Resorts Inc. has a 1-year low of $13.23 and a 1-year high of $18.05. The firm’s fifty day simple moving average is $14.70 and its 200-day simple moving average is $14.69. The company has a market capitalization of $3.15 billion, a PE ratio of 9.73, a price-to-earnings-growth ratio of 7.02 and a beta of 2.03.

Park Hotels & Resorts (NYSE:PK) last issued 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 firm had revenue of $649.00 million during the quarter, compared to analysts’ expectations of $646.15 million. During the same quarter last year, the firm earned $0.51 EPS. The business’s revenue for the quarter was down 4.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Park Hotels & Resorts Inc. will post 1.96 earnings per share for the current fiscal year.

Park Hotels & Resorts Increases Dividend

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

About Park Hotels & Resorts

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.