Park Hotels & Resorts Inc. (NYSE:PK) Stock Position Raised by Strs Ohio

Strs Ohio lifted its stake in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 19.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 354,660 shares of the financial services provider’s stock after acquiring an additional 58,130 shares during the quarter. Strs Ohio owned 0.17% of Park Hotels & Resorts worth $5,426,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. First Trust Advisors LP boosted its stake in shares of Park Hotels & Resorts by 1.5% during the 1st quarter. First Trust Advisors LP now owns 47,964 shares of the financial services provider’s stock worth $937,000 after acquiring an additional 686 shares in the last quarter. Cascade Investment Advisors Inc. boosted its stake in shares of Park Hotels & Resorts by 1.1% during the 4th quarter. Cascade Investment Advisors Inc. now owns 66,222 shares of the financial services provider’s stock worth $1,013,000 after acquiring an additional 725 shares in the last quarter. Spire Wealth Management boosted its stake in shares of Park Hotels & Resorts by 20.1% during the 3rd quarter. Spire Wealth Management now owns 5,145 shares of the financial services provider’s stock worth $63,000 after acquiring an additional 860 shares in the last quarter. Federated Hermes Inc. boosted its stake in shares of Park Hotels & Resorts by 3.9% during the 1st quarter. Federated Hermes Inc. now owns 30,799 shares of the financial services provider’s stock worth $602,000 after acquiring an additional 1,147 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in shares of Park Hotels & Resorts by 10.7% during the 3rd quarter. Tower Research Capital LLC TRC now owns 13,005 shares of the financial services provider’s stock worth $160,000 after acquiring an additional 1,253 shares in the last quarter. 92.69% of the stock is owned by institutional investors.

Park Hotels & Resorts Price Performance

PK opened at $16.11 on Friday. The stock has a market cap of $3.39 billion, a price-to-earnings ratio of 35.02, a PEG ratio of 0.61 and a beta of 2.03. Park Hotels & Resorts Inc. has a 1 year low of $11.05 and a 1 year high of $18.05. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 1.19. The stock has a fifty day moving average price of $16.74 and a 200 day moving average price of $15.22.

Park Hotels & Resorts (NYSE:PK) last posted its earnings results on Tuesday, February 27th. The financial services provider reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.39. Park Hotels & Resorts had a return on equity of 2.44% and a net margin of 3.60%. The company had revenue of $657.00 million for the quarter, compared to analyst estimates of $665.16 million. Analysts forecast that Park Hotels & Resorts Inc. will post 2.06 EPS for the current fiscal year.

Park Hotels & Resorts Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were issued a dividend of $0.25 per share. This is a positive change from Park Hotels & Resorts’s previous quarterly dividend of $0.15. This represents a $1.00 annualized dividend and a yield of 6.21%. The ex-dividend date of this dividend was Wednesday, March 27th. Park Hotels & Resorts’s dividend payout ratio (DPR) is 217.39%.

Wall Street Analysts Forecast Growth

PK has been the subject of several recent analyst reports. UBS Group raised their target price on Park Hotels & Resorts from $14.00 to $18.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 6th. StockNews.com cut Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research report on Saturday, April 13th. Truist Financial raised their target price on Park Hotels & Resorts from $20.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, March 14th. Jefferies Financial Group raised Park Hotels & Resorts from a “hold” rating to a “buy” rating and raised their target price for the stock from $14.00 to $21.00 in a research report on Tuesday, January 2nd. Finally, Wells Fargo & Company raised their target price on Park Hotels & Resorts from $17.00 to $18.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 21st. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Park Hotels & Resorts currently has an average rating of “Hold” and an average price target of $17.58.

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.