Park Hotels & Resorts Inc. (NYSE:PK) Shares Sold by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. decreased its stake in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 2.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 72,433 shares of the financial services provider’s stock after selling 1,546 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Park Hotels & Resorts were worth $1,085,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Epoch Investment Partners Inc. increased its stake in shares of Park Hotels & Resorts by 135.7% in the first quarter. Epoch Investment Partners Inc. now owns 1,391,881 shares of the financial services provider’s stock worth $24,344,000 after acquiring an additional 801,372 shares during the period. Acadian Asset Management LLC increased its stake in shares of Park Hotels & Resorts by 492.7% in the first quarter. Acadian Asset Management LLC now owns 54,345 shares of the financial services provider’s stock worth $950,000 after acquiring an additional 45,176 shares during the period. Norges Bank acquired a new stake in shares of Park Hotels & Resorts in the fourth quarter worth $31,745,000. Los Angeles Capital Management LLC increased its stake in shares of Park Hotels & Resorts by 601.1% in the first quarter. Los Angeles Capital Management LLC now owns 2,111,004 shares of the financial services provider’s stock worth $36,921,000 after acquiring an additional 1,809,886 shares during the period. Finally, Diversified Trust Co acquired a new stake in shares of Park Hotels & Resorts in the second quarter worth $599,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

Park Hotels & Resorts Stock Performance

PK opened at $14.04 on Monday. 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 market cap of $2.93 billion, a price-to-earnings ratio of 31.91, a PEG ratio of 0.66 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. The firm’s fifty day simple moving average is $14.51 and its two-hundred day simple moving average is $15.63.

Park Hotels & Resorts (NYSE:PK) last posted its quarterly earnings data 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). The company had revenue of $686.00 million for the quarter, compared to analysts’ expectations of $694.94 million. Park Hotels & Resorts had a net margin of 11.50% and a return on equity of 8.77%. Equities analysts anticipate that Park Hotels & Resorts Inc. will post 2.11 earnings per share for the current fiscal year.

Park Hotels & Resorts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 7.12%. The ex-dividend date of this dividend is Monday, September 30th. Park Hotels & Resorts’s dividend payout ratio is currently 227.28%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PK. Wedbush reiterated a “neutral” rating and issued a $17.00 price objective on shares of Park Hotels & Resorts in a research note on Tuesday, May 28th. Truist Financial lowered their price target on shares of Park Hotels & Resorts from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Wednesday, September 4th. UBS Group lowered their price target on shares of Park Hotels & Resorts from $18.00 to $14.00 and set a “neutral” rating on the stock in a report on Friday, August 16th. Barclays increased their price target on shares of Park Hotels & Resorts from $21.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, May 24th. Finally, Evercore ISI lowered their price target on shares of Park Hotels & Resorts from $20.00 to $19.00 and set an “outperform” rating on the stock in a report on Tuesday, August 13th. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $16.96.

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.