Donald Smith & CO. Inc. Has $99.90 Million Stock Holdings in Park Hotels & Resorts Inc. (NYSE:PK)

Donald Smith & CO. Inc. boosted its position in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 36.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,529,666 shares of the financial services provider’s stock after buying an additional 1,728,921 shares during the quarter. Park Hotels & Resorts makes up approximately 2.6% of Donald Smith & CO. Inc.’s holdings, making the stock its 12th largest holding. Donald Smith & CO. Inc.’s holdings in Park Hotels & Resorts were worth $99,904,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. AE Wealth Management LLC bought a new stake in shares of Park Hotels & Resorts during the 3rd quarter valued at $154,000. Bfsg LLC acquired a new stake in Park Hotels & Resorts in the 3rd quarter valued at about $189,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Park Hotels & Resorts by 2.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 86,399 shares of the financial services provider’s stock worth $1,064,000 after acquiring an additional 1,714 shares during the period. Inspire Advisors LLC acquired a new stake in shares of Park Hotels & Resorts in the third quarter valued at approximately $153,000. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Park Hotels & Resorts by 5.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 85,069 shares of the financial services provider’s stock valued at $1,048,000 after buying an additional 4,720 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Citigroup upgraded shares of Park Hotels & Resorts from a “neutral” rating to a “buy” rating and lifted their price target for the company from $14.00 to $20.00 in a research report on Friday, March 22nd. Jefferies Financial Group upgraded shares of Park Hotels & Resorts from a “hold” rating to a “buy” rating and boosted their price objective for the company from $14.00 to $21.00 in a research report on Tuesday, January 2nd. StockNews.com downgraded shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research report on Tuesday, April 23rd. UBS Group boosted their price objective on shares of Park Hotels & Resorts from $14.00 to $18.00 and gave the company a “neutral” rating in a research report on Wednesday, March 6th. Finally, Wells Fargo & Company boosted their target price on shares of Park Hotels & Resorts from $17.00 to $18.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 21st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Park Hotels & Resorts presently has a consensus rating of “Hold” and a consensus target price of $17.58.

Park Hotels & Resorts Trading Up 0.7 %

PK traded up $0.12 during trading on Monday, reaching $16.69. 3,393,541 shares of the stock traded hands, compared to its average volume of 2,764,352. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 1.19. The stock has a market capitalization of $3.51 billion, a PE ratio of 36.02, a P/E/G ratio of 0.85 and a beta of 2.03. The stock’s 50-day moving average is $16.91 and its 200 day moving average is $15.46. Park Hotels & Resorts Inc. has a 12 month low of $11.05 and a 12 month high of $18.05.

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

Park Hotels & Resorts Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.00 annualized dividend and a dividend yield of 5.99%. Park Hotels & Resorts’s dividend payout ratio is currently 217.39%.

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.