Park Hotels & Resorts Inc. (NYSE:PK) Shares Sold by American International Group Inc.

American International Group Inc. trimmed its holdings in Park Hotels & Resorts Inc. (NYSE:PK) by 6.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 283,670 shares of the financial services provider’s stock after selling 20,257 shares during the period. American International Group Inc. owned 0.14% of Park Hotels & Resorts worth $4,340,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of PK. Pathstone Family Office LLC acquired a new stake in shares of Park Hotels & Resorts during the 3rd quarter worth about $173,000. UBS Group AG boosted its stake in shares of Park Hotels & Resorts by 548.2% during the 3rd quarter. UBS Group AG now owns 552,839 shares of the financial services provider’s stock worth $6,811,000 after purchasing an additional 467,554 shares during the last quarter. Citigroup Inc. boosted its stake in shares of Park Hotels & Resorts by 22.8% during the 3rd quarter. Citigroup Inc. now owns 157,883 shares of the financial services provider’s stock worth $1,945,000 after purchasing an additional 29,301 shares during the last quarter. Deutsche Bank AG boosted its stake in shares of Park Hotels & Resorts by 8.4% during the 3rd quarter. Deutsche Bank AG now owns 148,781 shares of the financial services provider’s stock worth $1,833,000 after purchasing an additional 11,561 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its stake in shares of Park Hotels & Resorts by 39.4% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 73,670 shares of the financial services provider’s stock worth $920,000 after purchasing an additional 20,833 shares during the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

Park Hotels & Resorts Trading Up 0.3 %

NYSE PK opened at $14.82 on Friday. 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 one year low of $11.05 and a one year high of $18.05. The company’s 50 day moving average price is $15.83 and its 200 day moving average price is $16.13. The firm has a market capitalization of $3.12 billion, a price-to-earnings ratio of 33.68, a PEG ratio of 0.72 and a beta of 2.01.

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 (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.17). Park Hotels & Resorts had a net margin of 3.42% and a return on equity of 3.08%. The firm had revenue of $639.00 million during the quarter, compared to analyst estimates of $630.46 million. On average, sell-side analysts predict that Park Hotels & Resorts Inc. will post 2.11 EPS for the current year.

Park Hotels & Resorts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 6.75%. The ex-dividend date of this dividend is Friday, June 28th. Park Hotels & Resorts’s dividend payout ratio (DPR) is 227.28%.

Wall Street Analysts Forecast Growth

PK has been the topic of several analyst reports. Citigroup raised shares of Park Hotels & Resorts from a “neutral” rating to a “buy” rating and raised their price target for the stock from $14.00 to $20.00 in a research note on Friday, March 22nd. Wedbush reiterated a “neutral” rating and set a $17.00 price objective on shares of Park Hotels & Resorts in a report on Tuesday, May 28th. StockNews.com upgraded shares of Park Hotels & Resorts from a “sell” rating to a “hold” rating in a report on Wednesday, May 1st. Barclays increased their price objective on shares of Park Hotels & Resorts from $21.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, May 24th. Finally, Evercore ISI upgraded shares of Park Hotels & Resorts from an “in-line” rating to an “outperform” rating and increased their price objective for the stock from $19.00 to $20.00 in a report on Wednesday, May 15th. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $17.83.

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.