State of Alaska Department of Revenue Has $1.71 Million Stake in Park Hotels & Resorts Inc. (NYSE:PK)

State of Alaska Department of Revenue lowered its position in Park Hotels & Resorts Inc. (NYSE:PK) by 1.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 121,741 shares of the financial services provider’s stock after selling 1,888 shares during the period. State of Alaska Department of Revenue owned 0.06% of Park Hotels & Resorts worth $1,711,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PK. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Park Hotels & Resorts by 0.9% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 79,994 shares of the financial services provider’s stock valued at $1,128,000 after purchasing an additional 752 shares in the last quarter. Cascade Investment Advisors Inc. raised its holdings in Park Hotels & Resorts by 1.3% during the fourth quarter. Cascade Investment Advisors Inc. now owns 73,487 shares of the financial services provider’s stock valued at $1,034,000 after buying an additional 915 shares in the last quarter. Tidal Investments LLC raised its holdings in Park Hotels & Resorts by 5.5% during the third quarter. Tidal Investments LLC now owns 19,522 shares of the financial services provider’s stock valued at $275,000 after buying an additional 1,020 shares in the last quarter. Bfsg LLC lifted its position in shares of Park Hotels & Resorts by 8.7% in the third quarter. Bfsg LLC now owns 15,440 shares of the financial services provider’s stock worth $218,000 after buying an additional 1,235 shares during the last quarter. Finally, KBC Group NV boosted its stake in shares of Park Hotels & Resorts by 34.4% during the 3rd quarter. KBC Group NV now owns 7,360 shares of the financial services provider’s stock worth $104,000 after acquiring an additional 1,882 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

Park Hotels & Resorts Stock Up 0.1 %

Shares of PK stock opened at $12.95 on Wednesday. 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 $14.26 and a 200 day moving average price of $14.41. The stock has a market cap of $2.67 billion, a P/E ratio of 8.25 and a beta of 2.00. Park Hotels & Resorts Inc. has a one year low of $12.73 and a one year high of $18.05.

Park Hotels & Resorts Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a dividend of $0.65 per share. This is an increase from Park Hotels & Resorts’s previous quarterly dividend of $0.25. This represents a $2.60 annualized dividend and a yield of 20.08%. The ex-dividend date was Tuesday, December 31st. Park Hotels & Resorts’s dividend payout ratio (DPR) is currently 63.69%.

Analyst Ratings Changes

Several equities analysts have commented on the company. Wells Fargo & Company increased 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. 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. UBS Group dropped their target price on shares of Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating on the stock in a report on Monday, February 3rd. StockNews.com cut shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a report on Wednesday, February 5th. Finally, 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. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $18.45.

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.