US Bancorp DE Boosts Stake in Park Hotels & Resorts Inc. (NYSE:PK)

US Bancorp DE boosted its stake in Park Hotels & Resorts Inc. (NYSE:PK) by 10.9% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 14,153 shares of the financial services provider’s stock after acquiring an additional 1,392 shares during the period. US Bancorp DE’s holdings in Park Hotels & Resorts were worth $199,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Venturi Wealth Management LLC raised its holdings in Park Hotels & Resorts by 281.6% in the 3rd quarter. Venturi Wealth Management LLC now owns 3,850 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 2,841 shares during the last quarter. KBC Group NV raised its holdings in Park Hotels & Resorts by 34.4% in the 3rd quarter. KBC Group NV now owns 7,360 shares of the financial services provider’s stock valued at $104,000 after acquiring an additional 1,882 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Park Hotels & Resorts in the 3rd quarter valued at $116,000. Merit Financial Group LLC acquired a new position in Park Hotels & Resorts in the 4th quarter valued at $146,000. Finally, Walleye Capital LLC acquired a new position in Park Hotels & Resorts in the 3rd quarter valued at $151,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on PK. UBS Group cut their price target on Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating for the company in a report on Monday, February 3rd. Wells Fargo & Company cut their price target on Park Hotels & Resorts from $17.00 to $14.00 and set an “equal weight” rating for the company in a report on Tuesday, February 18th. StockNews.com downgraded Park Hotels & Resorts from a “hold” rating to a “sell” rating in a report on Friday, February 21st. Finally, Jefferies Financial Group dropped their price objective on Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. One equities research analyst has rated the stock with a sell rating, five have assigned 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 an average rating of “Hold” and a consensus price target of $18.15.

Park Hotels & Resorts Trading Up 4.1 %

PK stock opened at $11.35 on Friday. Park Hotels & Resorts Inc. has a 52 week low of $10.87 and a 52 week high of $18.05. The company has a market cap of $2.29 billion, a price-to-earnings ratio of 11.23, a PEG ratio of 1.51 and a beta of 2.02. The company has a quick ratio of 1.51, a current ratio of 1.19 and a debt-to-equity ratio of 1.27. The business has a fifty day simple moving average of $12.94 and a 200-day simple moving average of $14.06.

Park Hotels & Resorts (NYSE:PK) last announced its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.01). Park Hotels & Resorts had a net margin of 8.16% and a return on equity of 5.63%. The company had revenue of $625.00 million during the quarter, compared to analyst estimates of $609.05 million. On average, equities research analysts expect that Park Hotels & Resorts Inc. will post 2.11 EPS for the current year.

Park Hotels & Resorts Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $0.25 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.00 annualized dividend and a yield of 8.81%. Park Hotels & Resorts’s dividend payout ratio is currently 99.01%.

Park Hotels & Resorts Profile

Park Hotels & Resorts, Inc operates as a real estate investment trust, which owns and operates hotels and resorts. It operates through the Consolidated Hotels and Unconsolidated Hotels segments. Its portfolio of hotels and resorts include the Waldorf Astoria Hotels and Resorts, Conrad Hotels & Resorts, Hilton Hotels & Resorts, DoubleTree by Hilton, Embassy Suites by Hilton, Hilton Garden Inn, Hampton by Hilton, and Curio.