Diversify Advisory Services LLC Purchases New Position in Park Hotels & Resorts Inc. $PK

Diversify Advisory Services LLC acquired a new position in shares of Park Hotels & Resorts Inc. (NYSE:PK) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 66,547 shares of the financial services provider’s stock, valued at approximately $1,000,000.

A number of other institutional investors have also recently bought and sold shares of the company. Principal Securities Inc. raised its holdings in Park Hotels & Resorts by 9.5% in the fourth quarter. Principal Securities Inc. now owns 10,684 shares of the financial services provider’s stock worth $112,000 after purchasing an additional 927 shares during the period. California State Teachers Retirement System grew its holdings in shares of Park Hotels & Resorts by 0.5% in the 2nd quarter. California State Teachers Retirement System now owns 192,452 shares of the financial services provider’s stock valued at $1,969,000 after buying an additional 968 shares during the period. Versant Capital Management Inc grew its holdings in shares of Park Hotels & Resorts by 10.5% in the 2nd quarter. Versant Capital Management Inc now owns 10,838 shares of the financial services provider’s stock valued at $154,000 after buying an additional 1,030 shares during the period. Fifth Third Bancorp increased its position in shares of Park Hotels & Resorts by 68.8% in the 1st quarter. Fifth Third Bancorp now owns 2,604 shares of the financial services provider’s stock valued at $27,000 after buying an additional 1,061 shares in the last quarter. Finally, Caitlin John LLC increased its position in shares of Park Hotels & Resorts by 4.6% in the 4th quarter. Caitlin John LLC now owns 24,774 shares of the financial services provider’s stock valued at $259,000 after buying an additional 1,100 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Park Hotels & Resorts Price Performance

PK stock opened at $15.80 on Thursday. The stock has a 50-day moving average price of $14.68 and a two-hundred day moving average price of $12.51. The stock has a market cap of $3.18 billion, a PE ratio of -19.04, a price-to-earnings-growth ratio of 2.03 and a beta of 1.34. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 1.29. Park Hotels & Resorts Inc. has a 1 year low of $9.84 and a 1 year high of $15.97.

Park Hotels & Resorts (NYSE:PK) last released its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $0.24 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.24. The firm had revenue of $680.00 million for the quarter, compared to the consensus estimate of $659.68 million. Park Hotels & Resorts had a negative return on equity of 5.23% and a negative net margin of 6.41%.The company’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter last year, the business posted $0.64 EPS. Equities analysts forecast that Park Hotels & Resorts Inc. will post 1.79 EPS for the current fiscal year.

Park Hotels & Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be paid a $0.25 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $1.00 annualized dividend and a yield of 6.3%. Park Hotels & Resorts’s payout ratio is presently -120.48%.

Wall Street Analysts Forecast Growth

PK has been the subject of a number of research analyst reports. Truist Financial boosted their target price on Park Hotels & Resorts from $12.00 to $13.00 and gave the company a “hold” rating in a research note on Tuesday, May 26th. Cantor Fitzgerald lifted their price objective on Park Hotels & Resorts from $12.00 to $15.00 and gave the company a “neutral” rating in a report on Tuesday, August 11th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $18.00 price objective on shares of Park Hotels & Resorts in a research report on Friday, August 14th. Morgan Stanley increased their target price on Park Hotels & Resorts from $10.50 to $11.00 and gave the stock an “equal weight” rating in a research note on Friday, July 17th. Finally, JPMorgan Chase & Co. raised their target price on shares of Park Hotels & Resorts from $13.00 to $14.00 and gave the stock an “underweight” rating in a report on Monday, August 10th. Two investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $13.92.

Park Hotels & Resorts Company Profile

Park Hotels & Resorts Inc is a publicly traded real estate investment trust (REIT) specializing in luxury and upper-upscale hospitality properties. The company’s primary business activity involves owning and leasing premier hotels and resorts across major urban and resort destinations. Through long-term management and franchise agreements with leading hotel operators, Park generates revenue from room nights, food and beverage offerings, meetings and events, and ancillary services.

Since its spin-off from Hilton Worldwide in January 2017, Park Hotels & Resorts has assembled a diversified portfolio of more than 60 properties.