Claro Advisors LLC Takes Position in Park Hotels & Resorts Inc. (NYSE:PK)

Claro Advisors LLC bought a new stake in shares of Park Hotels & Resorts Inc. (NYSE:PK) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 4,913 shares of the financial services provider’s stock, valued at approximately $69,000.

Several other hedge funds have also recently made changes to their positions in the business. Retirement Systems of Alabama boosted its position in shares of Park Hotels & Resorts by 0.3% during the first quarter. Retirement Systems of Alabama now owns 263,688 shares of the financial services provider’s stock valued at $4,612,000 after purchasing an additional 693 shares in the last quarter. Blue Zone Wealth Advisors LLC boosted its position in shares of Park Hotels & Resorts by 0.4% during the second quarter. Blue Zone Wealth Advisors LLC now owns 252,737 shares of the financial services provider’s stock valued at $3,786,000 after purchasing an additional 883 shares in the last quarter. State of Michigan Retirement System boosted its position in shares of Park Hotels & Resorts by 2.2% during the first quarter. State of Michigan Retirement System now owns 51,529 shares of the financial services provider’s stock valued at $901,000 after purchasing an additional 1,100 shares in the last quarter. Wedmont Private Capital boosted its position in shares of Park Hotels & Resorts by 10.8% during the first quarter. Wedmont Private Capital now owns 11,418 shares of the financial services provider’s stock valued at $201,000 after purchasing an additional 1,117 shares in the last quarter. Finally, Arizona State Retirement System boosted its position in shares of Park Hotels & Resorts by 2.1% during the second quarter. Arizona State Retirement System now owns 58,940 shares of the financial services provider’s stock valued at $883,000 after purchasing an additional 1,232 shares in the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on PK shares. Evercore ISI dropped their price target on Park Hotels & Resorts from $20.00 to $19.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 13th. StockNews.com lowered Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research report on Monday, October 14th. Truist Financial dropped their target price on Park Hotels & Resorts from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Wednesday, September 4th. Bank of America dropped their target price on Park Hotels & Resorts from $17.00 to $16.50 and set a “neutral” rating on the stock in a report on Monday. Finally, UBS Group dropped their target price on Park Hotels & Resorts from $18.00 to $14.00 and set a “neutral” rating on the stock in a report on Friday, August 16th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Park Hotels & Resorts currently has a consensus rating of “Hold” and an average target price of $17.00.

Park Hotels & Resorts Stock Down 0.2 %

Park Hotels & Resorts stock opened at $13.96 on Tuesday. The stock has a market cap of $2.94 billion, a PE ratio of 31.73, a price-to-earnings-growth ratio of 0.70 and a beta of 2.02. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.58 and a current ratio of 1.58. Park Hotels & Resorts Inc. has a one year low of $11.05 and a one year high of $18.05. The stock has a fifty day moving average of $14.48 and a 200 day moving average of $15.11.

Park Hotels & Resorts (NYSE:PK) last posted its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.30). The firm had revenue of $686.00 million for the quarter, compared to analysts’ expectations of $694.94 million. Park Hotels & Resorts had a net margin of 11.50% and a return on equity of 8.77%. As a group, sell-side analysts predict that Park Hotels & Resorts Inc. will post 2.11 EPS for the current year.

Park Hotels & Resorts Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 7.16%. The ex-dividend date of this dividend was Monday, September 30th. Park Hotels & Resorts’s dividend payout ratio (DPR) is presently 227.27%.

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.