Wilmington Savings Fund Society FSB Boosts Stock Position in Park Hotels & Resorts Inc. (NYSE:PK)

Wilmington Savings Fund Society FSB lifted its position in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 24.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 42,035 shares of the financial services provider’s stock after buying an additional 8,216 shares during the period. Wilmington Savings Fund Society FSB’s holdings in Park Hotels & Resorts were worth $591,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of PK. Creative Planning boosted its stake in shares of Park Hotels & Resorts by 39.0% in the 2nd quarter. Creative Planning now owns 26,190 shares of the financial services provider’s stock valued at $392,000 after purchasing an additional 7,348 shares in the last quarter. Truist Financial Corp boosted its position in Park Hotels & Resorts by 129.1% during the second quarter. Truist Financial Corp now owns 53,318 shares of the financial services provider’s stock valued at $799,000 after buying an additional 30,043 shares during the period. Sanctuary Advisors LLC bought a new position in shares of Park Hotels & Resorts during the second quarter valued at about $204,000. CWM LLC grew its stake in shares of Park Hotels & Resorts by 98.4% during the third quarter. CWM LLC now owns 111,611 shares of the financial services provider’s stock valued at $1,574,000 after buying an additional 55,353 shares during the last quarter. Finally, Bfsg LLC lifted its stake in shares of Park Hotels & Resorts by 8.7% in the 3rd quarter. Bfsg LLC now owns 15,440 shares of the financial services provider’s stock valued at $218,000 after acquiring an additional 1,235 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Bank of America cut their target price on shares of Park Hotels & Resorts from $17.00 to $16.50 and set a “neutral” rating on the stock in a report on Monday, October 21st. Jefferies Financial Group decreased 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. Compass Point dropped their target price on shares of Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Wells Fargo & Company boosted their price target on Park Hotels & Resorts from $16.00 to $17.00 and gave the company an “equal weight” rating in a report on Monday, December 9th. Finally, UBS Group dropped their price objective on Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating for the company in a report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Park Hotels & Resorts currently has a consensus rating of “Hold” and a consensus target price of $18.45.

Park Hotels & Resorts Stock Down 1.9 %

NYSE:PK opened at $12.94 on Tuesday. The firm has a 50-day simple moving average of $14.31 and a two-hundred day simple moving average of $14.43. The firm has a market cap of $2.67 billion, a P/E ratio of 8.24 and a beta of 2.00. Park Hotels & Resorts Inc. has a fifty-two week low of $12.80 and a fifty-two week high of $18.05. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.51 and a current ratio of 1.51.

Park Hotels & Resorts Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a $0.65 dividend. This is a positive change 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 20.10%. The ex-dividend date of this dividend was Tuesday, December 31st. Park Hotels & Resorts’s payout ratio is presently 63.69%.

Park Hotels & Resorts 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.