Los Angeles Capital Management LLC Has $36.92 Million Position in Park Hotels & Resorts Inc. (NYSE:PK)

Los Angeles Capital Management LLC raised its holdings in Park Hotels & Resorts Inc. (NYSE:PK) by 601.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,111,004 shares of the financial services provider’s stock after purchasing an additional 1,809,886 shares during the quarter. Los Angeles Capital Management LLC owned 1.00% of Park Hotels & Resorts worth $36,921,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Park Hotels & Resorts by 1.1% during the third quarter. Vanguard Group Inc. now owns 33,109,654 shares of the financial services provider’s stock worth $407,911,000 after acquiring an additional 347,812 shares in the last quarter. Donald Smith & CO. Inc. grew its holdings in shares of Park Hotels & Resorts by 36.0% during the 4th quarter. Donald Smith & CO. Inc. now owns 6,529,666 shares of the financial services provider’s stock valued at $99,904,000 after purchasing an additional 1,728,921 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Park Hotels & Resorts by 0.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,741,521 shares of the financial services provider’s stock valued at $41,945,000 after purchasing an additional 13,473 shares during the last quarter. Norges Bank bought a new position in Park Hotels & Resorts in the 4th quarter valued at approximately $31,745,000. Finally, Allianz Asset Management GmbH boosted its position in Park Hotels & Resorts by 10.2% in the fourth quarter. Allianz Asset Management GmbH now owns 1,794,528 shares of the financial services provider’s stock valued at $27,456,000 after buying an additional 166,152 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

Analyst Upgrades and Downgrades

PK has been the subject of a number of research reports. Wells Fargo & Company increased their price target on Park Hotels & Resorts from $17.00 to $18.00 and gave the company an “equal weight” rating in a research note on Thursday, March 21st. Truist Financial reduced their price target on Park Hotels & Resorts from $21.00 to $20.00 and set a “buy” rating on the stock in a report on Thursday, May 30th. Wedbush reaffirmed a “neutral” rating and issued a $17.00 price objective on shares of Park Hotels & Resorts in a research note on Tuesday, May 28th. StockNews.com upgraded shares of Park Hotels & Resorts from a “sell” rating to a “hold” rating in a research report on Wednesday, May 1st. Finally, Evercore ISI raised shares of Park Hotels & Resorts from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $19.00 to $20.00 in a report on Wednesday, May 15th. Seven research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $17.83.

Park Hotels & Resorts Stock Down 0.2 %

Shares of NYSE PK opened at $14.95 on Thursday. Park Hotels & Resorts Inc. has a 52-week low of $11.05 and a 52-week high of $18.05. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.48 and a current ratio of 1.48. The company’s 50 day moving average price is $15.93 and its 200-day moving average price is $16.14. The company has a market capitalization of $3.15 billion, a P/E ratio of 33.98, a price-to-earnings-growth ratio of 0.73 and a beta of 2.01.

Park Hotels & Resorts (NYSE:PK) last released its earnings results on Tuesday, April 30th. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.17). The firm had revenue of $639.00 million during the quarter, compared to analyst estimates of $630.46 million. Park Hotels & Resorts had a net margin of 3.42% and a return on equity of 3.08%. Equities analysts forecast that Park Hotels & Resorts Inc. will post 2.11 earnings per share for the current year.

Park Hotels & Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.69%. The ex-dividend date of this dividend is Friday, June 28th. Park Hotels & Resorts’s 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.