Versor Investments LP Acquires 3,358 Shares of Park Hotels & Resorts Inc. (NYSE:PK)

Versor Investments LP raised its holdings in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 11.7% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 32,100 shares of the financial services provider’s stock after acquiring an additional 3,358 shares during the period. Versor Investments LP’s holdings in Park Hotels & Resorts were worth $481,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. International Assets Investment Management LLC increased its position in shares of Park Hotels & Resorts by 1,826.1% in the 4th quarter. International Assets Investment Management LLC now owns 29,759 shares of the financial services provider’s stock valued at $455,000 after buying an additional 28,214 shares in the last quarter. Truist Financial Corp increased its position in shares of Park Hotels & Resorts by 3.8% in the 4th quarter. Truist Financial Corp now owns 22,335 shares of the financial services provider’s stock valued at $342,000 after buying an additional 816 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of Park Hotels & Resorts by 149.2% in the 4th quarter. Russell Investments Group Ltd. now owns 470,917 shares of the financial services provider’s stock valued at $7,205,000 after buying an additional 281,967 shares in the last quarter. Van ECK Associates Corp increased its position in shares of Park Hotels & Resorts by 19.7% in the 4th quarter. Van ECK Associates Corp now owns 30,173 shares of the financial services provider’s stock valued at $462,000 after buying an additional 4,961 shares in the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of Park Hotels & Resorts by 11.9% in the 4th quarter. Victory Capital Management Inc. now owns 41,917 shares of the financial services provider’s stock valued at $641,000 after buying an additional 4,456 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on PK shares. Wedbush reaffirmed a “neutral” rating and issued a $17.00 target price on shares of Park Hotels & Resorts in a research note on Tuesday, May 28th. Truist Financial reduced their target price on shares of Park Hotels & Resorts from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Wednesday. Evercore ISI reduced their target price on shares of Park Hotels & Resorts from $20.00 to $19.00 and set an “outperform” rating for the company in a research note on Tuesday, August 13th. UBS Group reduced their target price on shares of Park Hotels & Resorts from $18.00 to $14.00 and set a “neutral” rating for the company in a research note on Friday, August 16th. Finally, Barclays upped their target price on shares of Park Hotels & Resorts from $21.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday, May 24th. Seven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $17.25.

Park Hotels & Resorts Trading Down 1.8 %

Park Hotels & Resorts stock opened at $14.44 on Thursday. The firm has a 50-day moving average of $14.62 and a 200-day moving average of $15.73. Park Hotels & Resorts Inc. has a one year low of $11.05 and a one year high of $18.05. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.58 and a quick ratio of 1.58. The company has a market cap of $3.02 billion, a price-to-earnings ratio of 32.82, a P/E/G ratio of 0.74 and a beta of 2.02.

Park Hotels & Resorts (NYSE:PK) last issued its earnings results on Wednesday, July 31st. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.30). Park Hotels & Resorts had a net margin of 11.50% and a return on equity of 8.77%. The firm had revenue of $686.00 million during the quarter, compared to analyst estimates of $694.94 million. On average, equities analysts expect that Park Hotels & Resorts Inc. will post 2.1 earnings per share for the current fiscal year.

Park Hotels & Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be paid a $0.25 dividend. The ex-dividend date is Monday, September 30th. This represents a $1.00 annualized dividend and a yield of 6.93%. Park Hotels & Resorts’s dividend payout ratio (DPR) is currently 227.28%.

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.