Park Hotels & Resorts Inc. (NYSE:PK) Shares Sold by Pensionfund DSM Netherlands

Pensionfund DSM Netherlands cut its holdings in Park Hotels & Resorts Inc. (NYSE:PK) by 16.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 52,038 shares of the financial services provider’s stock after selling 10,000 shares during the quarter. Pensionfund DSM Netherlands’ holdings in Park Hotels & Resorts were worth $732,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in PK. Harbor Capital Advisors Inc. purchased a new stake in shares of Park Hotels & Resorts in the third quarter valued at about $33,000. Venturi Wealth Management LLC boosted its stake in shares of Park Hotels & Resorts by 281.6% in the third quarter. Venturi Wealth Management LLC now owns 3,850 shares of the financial services provider’s stock valued at $54,000 after buying an additional 2,841 shares in the last quarter. Quarry LP grew its holdings in Park Hotels & Resorts by 82.1% during the second quarter. Quarry LP now owns 4,118 shares of the financial services provider’s stock worth $62,000 after acquiring an additional 1,857 shares during the period. Claro Advisors LLC purchased a new position in Park Hotels & Resorts in the third quarter worth $69,000. Finally, Covestor Ltd lifted its holdings in Park Hotels & Resorts by 64.8% in the third quarter. Covestor Ltd now owns 6,894 shares of the financial services provider’s stock valued at $97,000 after acquiring an additional 2,711 shares during the period. 92.69% of the stock is owned by hedge funds and other institutional investors.

Park Hotels & Resorts Trading Down 0.4 %

Shares of Park Hotels & Resorts stock traded down $0.06 during mid-day trading on Monday, hitting $14.13. 184,996 shares of the stock were exchanged, compared to its average volume of 2,861,350. The company has a 50-day simple moving average of $14.87 and a 200 day simple moving average of $14.63. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 1.24. The stock has a market capitalization of $2.92 billion, a price-to-earnings ratio of 9.00, a price-to-earnings-growth ratio of 6.90 and a beta of 2.02. Park Hotels & Resorts Inc. has a twelve month low of $13.23 and a twelve month high of $18.05.

Park Hotels & Resorts (NYSE:PK) last issued 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 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 quarterly revenue was down 4.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.51 EPS. Research analysts forecast that Park Hotels & Resorts Inc. will post 1.96 EPS 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 given 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 annualized dividend and a dividend yield of 18.40%. The ex-dividend date is Tuesday, December 31st. Park Hotels & Resorts’s dividend payout ratio is currently 63.69%.

Wall Street Analysts Forecast Growth

PK has been the topic of a number of recent analyst reports. Wells Fargo & Company upped their price target on shares of Park Hotels & Resorts from $16.00 to $17.00 and gave the stock an “equal weight” rating in a research note on Monday, December 9th. Wolfe Research cut shares of Park Hotels & Resorts from an “outperform” rating to a “peer perform” rating in a report on Thursday, September 26th. UBS Group boosted their price target on 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 dropped their price objective on 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. Finally, StockNews.com upgraded Park Hotels & Resorts from a “sell” rating to a “hold” rating in a research report on Monday, December 30th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $18.65.

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.