Quantbot Technologies LP Sells 335,828 Shares of Park Hotels & Resorts Inc. (NYSE:PK)

Quantbot Technologies LP cut its stake in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 91.3% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 32,072 shares of the financial services provider’s stock after selling 335,828 shares during the period. Quantbot Technologies LP’s holdings in Park Hotels & Resorts were worth $452,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of PK. Donald Smith & CO. Inc. grew its holdings in shares of Park Hotels & Resorts by 22.5% during the third quarter. Donald Smith & CO. Inc. now owns 8,077,286 shares of the financial services provider’s stock worth $113,890,000 after purchasing an additional 1,484,295 shares in the last quarter. AQR Capital Management LLC raised its position in shares of Park Hotels & Resorts by 287.7% during the 2nd quarter. AQR Capital Management LLC now owns 5,252,853 shares of the financial services provider’s stock valued at $77,217,000 after buying an additional 3,897,889 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Park Hotels & Resorts by 3.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,113,325 shares of the financial services provider’s stock worth $46,638,000 after acquiring an additional 115,391 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Park Hotels & Resorts by 2.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,902,728 shares of the financial services provider’s stock worth $40,928,000 after acquiring an additional 66,093 shares during the last quarter. Finally, Jupiter Asset Management Ltd. grew its position in Park Hotels & Resorts by 286.9% in the second quarter. Jupiter Asset Management Ltd. now owns 2,597,091 shares of the financial services provider’s stock worth $38,904,000 after acquiring an additional 1,925,850 shares in the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on PK. Compass Point dropped their price target on Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Wolfe Research lowered Park Hotels & Resorts from an “outperform” rating to a “peer perform” rating in a research note on Thursday, September 26th. Evercore ISI decreased 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 research note on Tuesday, August 13th. Wells Fargo & Company upped their price objective on shares of Park Hotels & Resorts from $14.50 to $16.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 26th. Finally, UBS Group lifted their target price on shares of Park Hotels & Resorts from $14.00 to $15.00 and gave the stock a “neutral” rating in a research report on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $18.23.

Park Hotels & Resorts Stock Up 2.8 %

Shares of NYSE PK opened at $15.81 on Wednesday. The firm has a fifty day simple moving average of $14.50 and a two-hundred day simple moving average of $14.71. Park Hotels & Resorts Inc. has a 12 month low of $13.23 and a 12 month high of $18.05. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 1.24. The firm has a market capitalization of $3.26 billion, a PE ratio of 10.07, a price-to-earnings-growth ratio of 6.91 and a beta of 2.03.

Park Hotels & Resorts (NYSE:PK) last issued its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $0.26 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.21). Park Hotels & Resorts had a return on equity of 9.63% and a net margin of 12.66%. The company had revenue of $649.00 million during the quarter, compared to analysts’ expectations of $646.15 million. During the same quarter last year, the business earned $0.51 earnings per share. The business’s quarterly revenue was down 4.4% on a year-over-year basis. Equities analysts expect that Park Hotels & Resorts Inc. will post 1.97 earnings per share for the current year.

Park Hotels & Resorts Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a $0.65 dividend. This is an increase from Park Hotels & Resorts’s previous quarterly dividend of $0.25. The ex-dividend date is Tuesday, December 31st. This represents a $2.60 dividend on an annualized basis and a yield of 16.45%. Park Hotels & Resorts’s dividend payout ratio is 63.69%.

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.