UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Grows Stock Holdings in Park Hotels & Resorts Inc. (NYSE:PK)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 321.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,409,574 shares of the financial services provider’s stock after acquiring an additional 1,075,255 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.68% of Park Hotels & Resorts worth $19,875,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. AQR Capital Management LLC increased its position in 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 purchasing an additional 3,897,889 shares during the period. Jupiter Asset Management Ltd. boosted its stake in shares of Park Hotels & Resorts by 286.9% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 2,597,091 shares of the financial services provider’s stock valued at $38,904,000 after purchasing an additional 1,925,850 shares in the last quarter. Donald Smith & CO. Inc. increased its position 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 valued at $113,890,000 after buying an additional 1,484,295 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its stake in Park Hotels & Resorts by 345.9% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,035,082 shares of the financial services provider’s stock worth $14,595,000 after buying an additional 802,939 shares in the last quarter. Finally, Foundry Partners LLC purchased a new stake in Park Hotels & Resorts in the third quarter worth about $9,238,000. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on PK shares. Wolfe Research downgraded Park Hotels & Resorts from an “outperform” rating to a “peer perform” rating in a report on Thursday, September 26th. Bank of America dropped their price target on Park Hotels & Resorts from $17.00 to $16.50 and set a “neutral” rating on the stock in a research report on Monday, October 21st. Wells Fargo & Company increased their price objective on Park Hotels & Resorts from $14.50 to $16.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 26th. Evercore ISI dropped their target price 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. Finally, Compass Point decreased their price target on shares of 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. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Park Hotels & Resorts currently has an average rating of “Hold” and a consensus target price of $18.23.

Park Hotels & Resorts Price Performance

Shares of PK opened at $15.74 on Friday. Park Hotels & Resorts Inc. has a twelve month low of $13.23 and a twelve month high of $18.05. The company has a market capitalization of $3.25 billion, a P/E ratio of 10.03, a price-to-earnings-growth ratio of 7.10 and a beta of 2.03. The firm has a 50 day moving average of $14.55 and a 200 day moving average of $14.72. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 1.24.

Park Hotels & Resorts (NYSE:PK) last posted its earnings results on Tuesday, October 29th. The financial services provider reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.21). The business had revenue of $649.00 million during the quarter, compared to the consensus estimate of $646.15 million. Park Hotels & Resorts had a return on equity of 9.63% and a net margin of 12.66%. The firm’s revenue for the quarter was down 4.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.51 EPS. As a group, equities research analysts anticipate that Park Hotels & Resorts Inc. will post 1.97 earnings per share for the current fiscal year.

Park Hotels & Resorts Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.65 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $2.60 annualized dividend and a yield of 16.52%. This is a boost from Park Hotels & Resorts’s previous quarterly dividend of $0.25. Park Hotels & Resorts’s dividend payout ratio is currently 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.