Captrust Financial Advisors Trims Stock Holdings in Park Hotels & Resorts Inc. (NYSE:PK)

Captrust Financial Advisors decreased its holdings in Park Hotels & Resorts Inc. (NYSE:PK) by 40.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,500 shares of the financial services provider’s stock after selling 10,027 shares during the period. Captrust Financial Advisors’ holdings in Park Hotels & Resorts were worth $204,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Nisa Investment Advisors LLC grew its stake in Park Hotels & Resorts by 13.3% during the second quarter. Nisa Investment Advisors LLC now owns 154,088 shares of the financial services provider’s stock valued at $2,344,000 after acquiring an additional 18,075 shares in the last quarter. Pallas Capital Advisors LLC purchased a new position in Park Hotels & Resorts in the 2nd quarter worth approximately $610,000. Summit Global Investments purchased a new position in Park Hotels & Resorts in the 2nd quarter worth approximately $1,250,000. Bailard Inc. grew its stake in Park Hotels & Resorts by 9.4% in the 2nd quarter. Bailard Inc. now owns 44,200 shares of the financial services provider’s stock worth $662,000 after buying an additional 3,800 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Park Hotels & Resorts by 4.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 91,290 shares of the financial services provider’s stock worth $1,368,000 after buying an additional 4,072 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Park Hotels & Resorts Trading Up 0.7 %

NYSE:PK opened at $15.39 on Tuesday. The company has a fifty day moving average of $14.70 and a 200 day moving average of $14.68. Park Hotels & Resorts Inc. has a 52 week low of $13.23 and a 52 week high of $18.05. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 1.24. The firm has a market capitalization of $3.18 billion, a P/E ratio of 9.87, a P/E/G ratio of 6.90 and a beta of 2.03.

Park Hotels & Resorts (NYSE:PK) last posted its quarterly 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). Park Hotels & Resorts had a net margin of 12.66% and a return on equity of 9.63%. The firm had revenue of $649.00 million for the quarter, compared to the consensus estimate of $646.15 million. During the same quarter in the prior year, the company earned $0.51 earnings per share. The company’s quarterly revenue was down 4.4% compared to the same quarter last year. On average, research analysts predict that Park Hotels & Resorts Inc. will post 1.96 earnings per share for the current year.

Park Hotels & Resorts Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a dividend of $0.65 per share. This is a positive change from Park Hotels & Resorts’s previous quarterly dividend of $0.25. This represents a $2.60 dividend on an annualized basis and a yield of 16.89%. The ex-dividend date is Tuesday, December 31st. Park Hotels & Resorts’s dividend payout ratio is currently 63.69%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. UBS Group boosted their price target on shares of Park Hotels & Resorts from $14.00 to $15.00 and gave the stock a “neutral” rating in a research note on Monday, November 18th. Compass Point cut 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. Truist Financial cut their price target on shares of Park Hotels & Resorts from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Wednesday, September 4th. Bank of America lowered their price objective on shares of Park Hotels & Resorts from $17.00 to $16.50 and set a “neutral” rating for the company in a report on Monday, October 21st. Finally, Wolfe Research lowered shares of Park Hotels & Resorts from an “outperform” rating to a “peer perform” rating in a report on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Park Hotels & Resorts currently has a consensus rating of “Hold” and an average target price of $18.55.

Park Hotels & Resorts Company 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.