AdvisorShares Investments LLC Trims Holdings in Park Hotels & Resorts Inc. (NYSE:PK)

AdvisorShares Investments LLC trimmed its position in Park Hotels & Resorts Inc. (NYSE:PK) by 45.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,119 shares of the financial services provider’s stock after selling 5,184 shares during the quarter. AdvisorShares Investments LLC’s holdings in Park Hotels & Resorts were worth $90,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Retirement Systems of Alabama increased its holdings in Park Hotels & Resorts by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 263,688 shares of the financial services provider’s stock worth $4,612,000 after acquiring an additional 693 shares in the last quarter. Truist Financial Corp raised its position in shares of Park Hotels & Resorts by 3.8% during the fourth 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 during the last quarter. Blue Zone Wealth Advisors LLC raised its position in shares of Park Hotels & Resorts by 0.4% during the second quarter. Blue Zone Wealth Advisors LLC now owns 252,737 shares of the financial services provider’s stock valued at $3,786,000 after buying an additional 883 shares during the last quarter. Treasurer of the State of North Carolina raised its position in shares of Park Hotels & Resorts by 1.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 94,701 shares of the financial services provider’s stock valued at $1,449,000 after buying an additional 920 shares during the last quarter. Finally, State of Michigan Retirement System raised its position in shares of Park Hotels & Resorts by 2.2% during the first quarter. State of Michigan Retirement System now owns 51,529 shares of the financial services provider’s stock valued at $901,000 after buying an additional 1,100 shares during the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on PK. UBS Group reduced their price objective on shares of Park Hotels & Resorts from $18.00 to $14.00 and set a “neutral” rating on the stock in a research report on Friday, August 16th. Evercore ISI reduced their price objective on shares of Park Hotels & Resorts from $20.00 to $19.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 13th. Wedbush reiterated a “neutral” rating and set a $17.00 price objective on shares of Park Hotels & Resorts in a research report on Tuesday, May 28th. Barclays lifted their price objective on shares of Park Hotels & Resorts from $21.00 to $22.00 and gave the company an “overweight” rating in a research report on Friday, May 24th. Finally, Truist Financial reduced their price objective on shares of Park Hotels & Resorts from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Wednesday, September 4th. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $17.25.

Park Hotels & Resorts Stock Up 0.8 %

NYSE PK opened at $13.78 on Friday. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 1.23. The company has a fifty day moving average of $14.52 and a two-hundred day moving average of $15.65. The firm has a market capitalization of $2.90 billion, a price-to-earnings ratio of 31.32, a PEG ratio of 0.68 and a beta of 2.02. Park Hotels & Resorts Inc. has a 52 week low of $11.05 and a 52 week high of $18.05.

Park Hotels & Resorts (NYSE:PK) last posted its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $0.30 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.30). The firm had revenue of $686.00 million for the quarter, compared to analysts’ expectations of $694.94 million. Park Hotels & Resorts had a return on equity of 8.77% and a net margin of 11.50%. On average, analysts predict that Park Hotels & Resorts Inc. will post 2.11 earnings per share for the current year.

Park Hotels & Resorts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 7.26%. The ex-dividend date is Monday, September 30th. Park Hotels & Resorts’s dividend payout ratio is currently 227.27%.

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.