Private Management Group Inc. Trims Stock Holdings in Park Hotels & Resorts Inc. (NYSE:PK)

Private Management Group Inc. lowered its position in Park Hotels & Resorts Inc. (NYSE:PK) by 0.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,195,439 shares of the financial services provider’s stock after selling 17,212 shares during the quarter. Park Hotels & Resorts makes up approximately 1.4% of Private Management Group Inc.’s portfolio, making the stock its 12th biggest position. Private Management Group Inc. owned approximately 1.05% of Park Hotels & Resorts worth $36,993,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cascade Investment Advisors Inc. grew its holdings in Park Hotels & Resorts by 1.1% during the fourth 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 during the period. Signaturefd LLC grew its holdings in Park Hotels & Resorts by 12.7% during the fourth quarter. Signaturefd LLC now owns 6,437 shares of the financial services provider’s stock worth $98,000 after acquiring an additional 727 shares during the period. Spire Wealth Management grew its holdings in Park Hotels & Resorts by 20.1% during the third 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 during the period. Covestor Ltd grew its holdings in Park Hotels & Resorts by 31.5% during the third quarter. Covestor Ltd now owns 5,596 shares of the financial services provider’s stock worth $69,000 after acquiring an additional 1,340 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in 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. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Wall Street Analyst Weigh In

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

Park Hotels & Resorts Price Performance

Shares of PK traded up $0.38 during trading hours on Tuesday, reaching $16.73. 2,252,164 shares of the company traded hands, compared to its average volume of 2,803,319. 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 $3.52 billion, a PE ratio of 36.37, a price-to-earnings-growth ratio of 0.61 and a beta of 2.03. Park Hotels & Resorts Inc. has a fifty-two week low of $11.05 and a fifty-two week high of $18.05. The stock has a fifty day simple moving average of $16.82 and a 200 day simple moving average of $15.36.

Park Hotels & Resorts (NYSE:PK) last posted its quarterly earnings data 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. The business had revenue of $657.00 million for the quarter, compared to analyst estimates of $665.16 million. Park Hotels & Resorts had a return on equity of 2.44% and a net margin of 3.60%. As a group, research analysts predict that Park Hotels & Resorts Inc. will post 2.06 EPS for the current fiscal year.

Park Hotels & Resorts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be given 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 yield of 5.98%. Park Hotels & Resorts’s dividend payout ratio (DPR) is presently 217.39%.

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.