Epoch Investment Partners Inc. Has $6.71 Million Stock Holdings in Park Hotels & Resorts Inc. (NYSE:PK)

Epoch Investment Partners Inc. lifted its holdings in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 8.8% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 476,935 shares of the financial services provider’s stock after acquiring an additional 38,456 shares during the period. Epoch Investment Partners Inc.’s holdings in Park Hotels & Resorts were worth $6,710,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Wealth Enhancement Advisory Services LLC raised its position in Park Hotels & Resorts by 0.9% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 79,994 shares of the financial services provider’s stock worth $1,128,000 after purchasing an additional 752 shares during the last quarter. Assetmark Inc. lifted its stake in shares of Park Hotels & Resorts by 3.4% in the fourth quarter. Assetmark Inc. now owns 23,355 shares of the financial services provider’s stock worth $329,000 after acquiring an additional 764 shares during the period. Xponance Inc. increased its position in Park Hotels & Resorts by 3.8% during the 4th quarter. Xponance Inc. now owns 24,650 shares of the financial services provider’s stock valued at $347,000 after purchasing an additional 892 shares during the period. Cascade Investment Advisors Inc. raised its holdings in Park Hotels & Resorts by 1.3% during 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. Finally, Asset Management One Co. Ltd. lifted its position in shares of Park Hotels & Resorts by 0.3% in 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 during the period. 92.69% of the stock is currently owned by institutional investors.

Park Hotels & Resorts Trading Up 3.0 %

PK opened at $9.84 on Friday. The firm has a market capitalization of $1.99 billion, a PE ratio of 9.74, a P/E/G ratio of 1.51 and a beta of 1.73. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.19 and a quick ratio of 1.51. Park Hotels & Resorts Inc. has a fifty-two week low of $8.27 and a fifty-two week high of $16.95. The company’s 50-day moving average is $11.25 and its 200 day moving average is $13.27.

Park Hotels & Resorts (NYSE:PK) last posted its 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). The company had revenue of $625.00 million during the quarter, compared to the consensus estimate of $609.05 million. Park Hotels & Resorts had a net margin of 8.16% and a return on equity of 5.63%. As a group, research analysts predict that Park Hotels & Resorts Inc. will post 2.11 earnings per share for the current fiscal year.

Park Hotels & Resorts Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 10.17%. The ex-dividend date of this dividend was Monday, March 31st. Park Hotels & Resorts’s payout ratio is currently 99.01%.

Analyst Ratings Changes

A number of brokerages recently weighed in on PK. StockNews.com downgraded shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research note on Thursday, April 10th. UBS Group cut their target price on Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating on the stock in a research report on Monday, February 3rd. Wells Fargo & Company lowered their target price 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. Jefferies Financial Group downgraded shares of Park Hotels & Resorts from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $19.00 to $10.00 in a research report on Wednesday, April 9th. Finally, Truist Financial cut their target price on shares of Park Hotels & Resorts from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Friday, March 21st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Park Hotels & Resorts currently has a consensus rating of “Hold” and an average price target of $16.39.

Park Hotels & Resorts Company 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.