Centiva Capital LP Lowers Stock Position in Park Hotels & Resorts Inc. (NYSE:PK)

Centiva Capital LP trimmed its holdings in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 69.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 30,527 shares of the financial services provider’s stock after selling 69,916 shares during the quarter. Centiva Capital LP’s holdings in Park Hotels & Resorts were worth $430,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Donald Smith & CO. Inc. increased its holdings in shares of Park Hotels & Resorts by 22.5% in the 3rd quarter. Donald Smith & CO. Inc. now owns 8,077,286 shares of the financial services provider’s stock valued at $113,890,000 after acquiring an additional 1,484,295 shares during the period. AQR Capital Management LLC boosted its position in Park Hotels & Resorts by 287.7% during the second 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 in the last quarter. Dimensional Fund Advisors LP grew its stake in Park Hotels & Resorts by 3.8% in the second quarter. Dimensional Fund Advisors LP now owns 3,113,325 shares of the financial services provider’s stock valued at $46,638,000 after purchasing an additional 115,391 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Park Hotels & Resorts by 2.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,902,728 shares of the financial services provider’s stock worth $40,928,000 after purchasing an additional 66,093 shares in the last quarter. Finally, Jupiter Asset Management Ltd. boosted its holdings in shares of Park Hotels & Resorts by 286.9% in 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 buying an additional 1,925,850 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

Analysts Set New Price Targets

PK has been the subject of several recent analyst reports. StockNews.com lowered shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. Wolfe Research cut Park Hotels & Resorts from an “outperform” rating to a “peer perform” rating in a research report on Thursday, September 26th. Bank of America reduced their target price 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. UBS Group raised their price target on Park Hotels & Resorts from $14.00 to $15.00 and gave the stock a “neutral” rating in a report on Monday, November 18th. Finally, Truist Financial cut 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 report on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $18.23.

Park Hotels & Resorts Stock Performance

Shares of PK stock opened at $15.65 on Monday. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 1.24. Park Hotels & Resorts Inc. has a 12-month low of $13.23 and a 12-month high of $18.05. The business’s 50 day moving average is $14.56 and its two-hundred day moving average is $14.70. The company has a market capitalization of $3.23 billion, a P/E ratio of 9.97, a P/E/G ratio of 7.11 and a beta of 2.03.

Park Hotels & Resorts (NYSE:PK) last released its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.21). The company had revenue of $649.00 million during the quarter, compared to analyst estimates of $646.15 million. Park Hotels & Resorts had a net margin of 12.66% and a return on equity of 9.63%. Park Hotels & Resorts’s revenue was down 4.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.51 EPS. Analysts expect that Park Hotels & Resorts Inc. will post 1.97 EPS 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. Stockholders 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 dividend on an annualized basis and a dividend yield of 16.61%. This is a boost from Park Hotels & Resorts’s previous quarterly dividend of $0.25. Park Hotels & Resorts’s payout ratio is currently 63.69%.

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.