Blue Zone Wealth Advisors LLC Grows Position in Park Hotels & Resorts Inc. (NYSE:PK)

Blue Zone Wealth Advisors LLC raised its holdings in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 10.9% during the first quarter, HoldingsChannel reports. The institutional investor owned 296,928 shares of the financial services provider’s stock after acquiring an additional 29,118 shares during the quarter. Blue Zone Wealth Advisors LLC’s holdings in Park Hotels & Resorts were worth $3,171,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Norges Bank acquired a new position in shares of Park Hotels & Resorts during the fourth quarter worth $41,087,000. Deutsche Bank AG raised its holdings in Park Hotels & Resorts by 809.3% in the fourth quarter. Deutsche Bank AG now owns 2,415,621 shares of the financial services provider’s stock valued at $33,988,000 after acquiring an additional 2,149,972 shares in the last quarter. Landmark Investment Partners L.P. acquired a new stake in Park Hotels & Resorts in the fourth quarter valued at $21,342,000. Invesco Ltd. raised its holdings in Park Hotels & Resorts by 84.0% in the fourth quarter. Invesco Ltd. now owns 2,837,917 shares of the financial services provider’s stock valued at $39,929,000 after acquiring an additional 1,295,548 shares in the last quarter. Finally, Donald Smith & CO. Inc. increased its stake in Park Hotels & Resorts by 13.9% during the fourth quarter. Donald Smith & CO. Inc. now owns 9,200,125 shares of the financial services provider’s stock valued at $129,446,000 after purchasing an additional 1,122,839 shares during the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently commented on PK shares. Evercore ISI lowered shares of Park Hotels & Resorts from an “outperform” rating to an “in-line” rating and set a $13.00 price target for the company. in a research report on Friday, May 16th. Jefferies Financial Group lowered shares of Park Hotels & Resorts from a “buy” rating to a “hold” rating and decreased their target price for the company from $19.00 to $10.00 in a research report on Wednesday, April 9th. Wells Fargo & Company cut their price target 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, February 18th. Morgan Stanley reduced their price objective on shares of Park Hotels & Resorts from $12.00 to $10.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 22nd. Finally, Wall Street Zen lowered shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research note on Thursday, April 10th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Park Hotels & Resorts presently has an average rating of “Hold” and a consensus target price of $12.75.

Park Hotels & Resorts Trading Up 2.5%

NYSE:PK opened at $10.27 on Friday. The stock’s 50 day moving average price is $10.10 and its 200 day moving average price is $12.34. Park Hotels & Resorts Inc. has a 52 week low of $8.27 and a 52 week high of $16.23. The company has a market capitalization of $2.05 billion, a P/E ratio of 10.17, a P/E/G ratio of 1.51 and a beta of 1.74. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.51 and a current ratio of 1.19.

Park Hotels & Resorts (NYSE:PK) last announced its quarterly earnings results on Monday, May 5th. The financial services provider reported $0.46 EPS for the quarter, beating the consensus estimate of $0.41 by $0.05. Park Hotels & Resorts had a return on equity of 5.63% and a net margin of 8.16%. The company had revenue of $630.00 million for the quarter, compared to the consensus estimate of $620.17 million. During the same quarter last year, the company posted $0.52 earnings per share. The company’s revenue for the quarter was down 1.4% compared to the same quarter last year. On average, research analysts forecast that Park Hotels & Resorts Inc. will post 2.11 EPS for the current fiscal year.

Park Hotels & Resorts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be given a $0.25 dividend. The ex-dividend date is Monday, June 30th. This represents a $1.00 annualized dividend and a dividend yield of 9.74%. Park Hotels & Resorts’s dividend payout ratio is 169.49%.

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.