Park Hotels & Resorts Inc. (NYSE:PK) Stake Increased by AQR Capital Management LLC

AQR Capital Management LLC boosted its stake in Park Hotels & Resorts Inc. (NYSE:PK) by 287.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,252,853 shares of the financial services provider’s stock after acquiring an additional 3,897,889 shares during the period. AQR Capital Management LLC owned 2.51% of Park Hotels & Resorts worth $77,217,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Epoch Investment Partners Inc. raised its stake in shares of Park Hotels & Resorts by 135.7% in the 1st quarter. Epoch Investment Partners Inc. now owns 1,391,881 shares of the financial services provider’s stock valued at $24,344,000 after purchasing an additional 801,372 shares in the last quarter. Acadian Asset Management LLC increased its holdings in shares of Park Hotels & Resorts by 492.7% in the 1st quarter. Acadian Asset Management LLC now owns 54,345 shares of the financial services provider’s stock valued at $950,000 after acquiring an additional 45,176 shares during the last quarter. Norges Bank acquired a new stake in shares of Park Hotels & Resorts during the 4th quarter valued at approximately $31,745,000. Los Angeles Capital Management LLC lifted its stake in Park Hotels & Resorts by 601.1% during 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 purchasing an additional 1,809,886 shares during the last quarter. Finally, Diversified Trust Co acquired a new position in Park Hotels & Resorts in the second quarter worth $599,000. 92.69% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on PK. Wells Fargo & Company dropped their target price on shares of Park Hotels & Resorts from $17.00 to $14.50 and set an “equal weight” rating on the stock in a report on Friday, September 13th. Evercore ISI decreased their target price on 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 lowered their target price on Park Hotels & Resorts from $18.00 to $14.00 and set a “neutral” rating for the company in a report on Friday, August 16th. Truist Financial cut their price target on Park Hotels & Resorts from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Wednesday, September 4th. Finally, Wolfe Research downgraded Park Hotels & Resorts from an “outperform” rating to a “peer perform” rating in a research note on Thursday. Eight analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Park Hotels & Resorts has a consensus rating of “Hold” and a consensus target price of $16.96.

Park Hotels & Resorts Trading Up 1.2 %

Shares of PK stock opened at $14.77 on Friday. Park Hotels & Resorts Inc. has a 1 year low of $11.05 and a 1 year high of $18.05. The firm has a market capitalization of $3.11 billion, a PE ratio of 33.57, a price-to-earnings-growth ratio of 0.73 and a beta of 2.02. The stock has a fifty day moving average of $14.56 and a two-hundred day moving average of $15.51. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.58 and a current ratio of 1.58.

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 for the quarter, missing the consensus estimate of $0.60 by ($0.30). The company had revenue of $686.00 million during the quarter, compared to analyst estimates of $694.94 million. Park Hotels & Resorts had a return on equity of 8.77% and a net margin of 11.50%. As a group, research analysts expect that Park Hotels & Resorts Inc. will post 2.11 EPS for the current year.

Park Hotels & Resorts Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 6.77%. The ex-dividend date of this dividend is Monday, September 30th. Park Hotels & Resorts’s dividend payout ratio (DPR) is presently 227.27%.

Park Hotels & Resorts 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.