State of New Jersey Common Pension Fund D Acquires 14,468 Shares of Park Hotels & Resorts Inc. (NYSE:PK)

State of New Jersey Common Pension Fund D raised its stake in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 5.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 261,795 shares of the financial services provider’s stock after purchasing an additional 14,468 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.13% of Park Hotels & Resorts worth $3,683,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC raised its stake in Park Hotels & Resorts by 0.9% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 79,994 shares of the financial services provider’s stock worth $1,128,000 after acquiring an additional 752 shares in the last quarter. Cascade Investment Advisors Inc. grew its holdings in shares of Park Hotels & Resorts by 1.3% in the 4th quarter. Cascade Investment Advisors Inc. now owns 73,487 shares of the financial services provider’s stock worth $1,034,000 after purchasing an additional 915 shares during the last quarter. Asset Management One Co. Ltd. increased its position in shares of Park Hotels & Resorts by 0.3% during the 4th quarter. Asset Management One Co. Ltd. now owns 338,032 shares of the financial services provider’s stock worth $5,043,000 after purchasing an additional 1,011 shares in the last quarter. Tidal Investments LLC lifted its holdings in Park Hotels & Resorts by 5.5% during the 3rd quarter. Tidal Investments LLC now owns 19,522 shares of the financial services provider’s stock valued at $275,000 after purchasing an additional 1,020 shares during the last quarter. Finally, KBC Group NV boosted its position in Park Hotels & Resorts by 34.4% in the third quarter. KBC Group NV now owns 7,360 shares of the financial services provider’s stock valued at $104,000 after buying an additional 1,882 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PK. Wells Fargo & Company dropped their price objective on shares of Park Hotels & Resorts from $17.00 to $14.00 and set an “equal weight” rating for the company in a report on Tuesday. UBS Group cut their price objective on Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating for the company in a research report on Monday, February 3rd. Compass Point decreased their target price on Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Jefferies Financial Group lowered their target price on Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating for the company in a research note on Thursday, January 2nd. Finally, StockNews.com raised shares of Park Hotels & Resorts from a “sell” rating to a “hold” rating in a report on Thursday, February 13th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Park Hotels & Resorts presently has a consensus rating of “Moderate Buy” and an average price target of $18.15.

Park Hotels & Resorts Trading Down 0.3 %

PK opened at $13.12 on Thursday. Park Hotels & Resorts Inc. has a fifty-two week low of $12.56 and a fifty-two week high of $18.05. The company has a market cap of $2.71 billion, a price-to-earnings ratio of 8.35 and a beta of 2.00. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.51 and a quick ratio of 1.51. The firm has a 50 day simple moving average of $13.87 and a 200 day simple moving average of $14.32.

Park Hotels & Resorts (NYSE:PK) last posted its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.01). Park Hotels & Resorts had a net margin of 12.66% and a return on equity of 9.63%. On average, sell-side analysts anticipate that Park Hotels & Resorts Inc. will post 1.97 earnings per share for the current year.

Park Hotels & Resorts Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were 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 19.82%. The ex-dividend date of this dividend was Tuesday, December 31st. Park Hotels & Resorts’s payout ratio is presently 63.69%.

About Park Hotels & Resorts

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.