Los Angeles Capital Management LLC Purchases 279,228 Shares of Park Hotels & Resorts Inc. (NYSE:PK)

Los Angeles Capital Management LLC grew its holdings in Park Hotels & Resorts Inc. (NYSE:PK) by 1,275.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 301,118 shares of the financial services provider’s stock after acquiring an additional 279,228 shares during the quarter. Los Angeles Capital Management LLC owned 0.14% of Park Hotels & Resorts worth $4,607,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of PK. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Park Hotels & Resorts by 2.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 86,399 shares of the financial services provider’s stock valued at $1,064,000 after purchasing an additional 1,714 shares during the last quarter. Inspire Advisors LLC purchased a new position in Park Hotels & Resorts during the 3rd quarter worth approximately $153,000. Allspring Global Investments Holdings LLC raised its position in Park Hotels & Resorts by 5.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 85,069 shares of the financial services provider’s stock worth $1,048,000 after buying an additional 4,720 shares during the last quarter. Cascade Investment Advisors Inc. boosted its holdings in shares of Park Hotels & Resorts by 7.2% in the 3rd quarter. Cascade Investment Advisors Inc. now owns 65,497 shares of the financial services provider’s stock valued at $807,000 after acquiring an additional 4,375 shares during the last quarter. Finally, Private Management Group Inc. boosted its holdings in shares of Park Hotels & Resorts by 16.6% in the 3rd quarter. Private Management Group Inc. now owns 2,212,651 shares of the financial services provider’s stock valued at $27,260,000 after acquiring an additional 314,386 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Park Hotels & Resorts Price Performance

Shares of NYSE PK opened at $16.09 on Monday. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.48 and a current ratio of 1.48. The firm has a fifty day moving average of $16.97 and a 200 day moving average of $15.60. The firm has a market cap of $3.39 billion, a PE ratio of 36.57, a PEG ratio of 0.83 and a beta of 2.03. Park Hotels & Resorts Inc. has a one year low of $11.05 and a one year high of $18.05.

Park Hotels & Resorts (NYSE:PK) last released its earnings results on Tuesday, February 27th. The financial services provider reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.39. The business had revenue of $657.00 million during the quarter, compared to analysts’ expectations of $665.16 million. Park Hotels & Resorts had a net margin of 3.42% and a return on equity of 3.08%. As a group, research analysts predict that Park Hotels & Resorts Inc. will post 2.06 EPS for the current fiscal year.

Park Hotels & Resorts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.22%. The ex-dividend date of this dividend is Friday, June 28th. Park Hotels & Resorts’s dividend payout ratio is presently 227.28%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Citigroup upgraded shares of Park Hotels & Resorts from a “neutral” rating to a “buy” rating and boosted their target price for the company from $14.00 to $20.00 in a research report on Friday, March 22nd. Barclays upped their target price on Park Hotels & Resorts from $19.00 to $21.00 and gave the stock an “overweight” rating in a research note on Friday, March 1st. Truist Financial lifted their price target on Park Hotels & Resorts from $20.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, March 14th. UBS Group raised their price objective on shares of Park Hotels & Resorts from $14.00 to $18.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 6th. Finally, Wells Fargo & Company lifted their target price on shares of Park Hotels & Resorts from $17.00 to $18.00 and gave the company an “equal weight” rating in a report on Thursday, March 21st. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $17.27.

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.