Park Hotels & Resorts Inc. (NYSE:PK) Position Boosted by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 205.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 274,961 shares of the financial services provider’s stock after purchasing an additional 184,961 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.13% of Park Hotels & Resorts worth $4,207,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Raleigh Capital Management Inc. acquired a new position in shares of Park Hotels & Resorts in the fourth quarter worth about $35,000. FNY Investment Advisers LLC acquired a new position in shares of Park Hotels & Resorts in the fourth quarter worth about $42,000. Covestor Ltd boosted its holdings in shares of Park Hotels & Resorts by 31.5% in the third quarter. Covestor Ltd now owns 5,596 shares of the financial services provider’s stock worth $69,000 after buying an additional 1,340 shares during the period. Signaturefd LLC boosted its holdings in shares of Park Hotels & Resorts by 12.7% in the fourth quarter. Signaturefd LLC now owns 6,437 shares of the financial services provider’s stock worth $98,000 after buying an additional 727 shares during the period. Finally, Cooper Financial Group acquired a new position in shares of Park Hotels & Resorts in the fourth quarter worth about $206,000. Institutional investors own 92.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on PK shares. Citigroup upgraded shares of Park Hotels & Resorts from a “neutral” rating to a “buy” rating and raised their target price for the stock from $14.00 to $20.00 in a report on Friday, March 22nd. Wells Fargo & Company increased their price target on shares of Park Hotels & Resorts from $17.00 to $18.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 21st. UBS Group increased their price target on shares of Park Hotels & Resorts from $14.00 to $18.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 6th. Evercore ISI raised shares of Park Hotels & Resorts from an “in-line” rating to an “outperform” rating and increased their price target for the stock from $19.00 to $20.00 in a research report on Wednesday, May 15th. Finally, Wedbush reissued a “neutral” rating and issued a $17.00 price target on shares of Park Hotels & Resorts in a research report on Tuesday, May 28th. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $17.83.

Park Hotels & Resorts Price Performance

Shares of PK opened at $14.93 on Wednesday. The firm has a market cap of $3.14 billion, a PE ratio of 33.92, a PEG ratio of 0.73 and a beta of 2.01. The firm’s 50 day moving average price is $15.98 and its 200 day moving average price is $16.15. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.48 and a current ratio of 1.48. Park Hotels & Resorts Inc. has a twelve month low of $11.05 and a twelve month high of $18.05.

Park Hotels & Resorts (NYSE:PK) last issued its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.17). The business had revenue of $639.00 million for the quarter, compared to the consensus estimate of $630.46 million. Park Hotels & Resorts had a net margin of 3.42% and a return on equity of 3.08%. As a group, research analysts expect that Park Hotels & Resorts Inc. will post 2.11 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 given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.70%. The ex-dividend date of this dividend is Friday, June 28th. Park Hotels & Resorts’s dividend payout ratio is 227.28%.

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.