Oak Thistle LLC Has $336,000 Position in Park Hotels & Resorts Inc. (NYSE:PK)

Oak Thistle LLC lowered its holdings in Park Hotels & Resorts Inc. (NYSE:PK) by 32.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,204 shares of the financial services provider’s stock after selling 9,246 shares during the quarter. Oak Thistle LLC’s holdings in Park Hotels & Resorts were worth $336,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in PK. Blue Zone Wealth Advisors LLC raised its stake in Park Hotels & Resorts by 2.4% during the first quarter. Blue Zone Wealth Advisors LLC now owns 251,854 shares of the financial services provider’s stock worth $4,405,000 after acquiring an additional 5,825 shares in the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Park Hotels & Resorts in the first quarter valued at $1,156,000. Atlas Capital Advisors LLC raised its holdings in shares of Park Hotels & Resorts by 160.1% in the first quarter. Atlas Capital Advisors LLC now owns 31,763 shares of the financial services provider’s stock valued at $556,000 after buying an additional 19,549 shares during the last quarter. Sound Income Strategies LLC lifted its position in Park Hotels & Resorts by 9.2% during the 1st quarter. Sound Income Strategies LLC now owns 720,256 shares of the financial services provider’s stock worth $12,597,000 after buying an additional 60,648 shares in the last quarter. Finally, Hazelview Securities Inc. raised its stake in shares of Park Hotels & Resorts by 30.1% in the first quarter. Hazelview Securities Inc. now owns 867,200 shares of the financial services provider’s stock worth $15,254,000 after acquiring an additional 200,600 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Park Hotels & Resorts Stock Performance

PK opened at $14.74 on Tuesday. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.48 and a quick ratio of 1.48. The company has a market capitalization of $3.10 billion, a price-to-earnings ratio of 33.50, a P/E/G ratio of 0.73 and a beta of 2.03. The business’s 50-day moving average price is $15.65 and its two-hundred day moving average price is $16.11. Park Hotels & Resorts Inc. has a 1 year low of $11.05 and a 1 year high of $18.05.

Park Hotels & Resorts (NYSE:PK) last released its earnings results on Tuesday, April 30th. The financial services provider reported $0.25 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 the consensus estimate of $630.46 million. Equities analysts expect that Park Hotels & Resorts Inc. will post 2.11 EPS for the current fiscal year.

Park Hotels & Resorts Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 6.78%. The ex-dividend date is Friday, June 28th. Park Hotels & Resorts’s payout ratio is 227.28%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. StockNews.com upgraded shares of Park Hotels & Resorts from a “sell” rating to a “hold” rating in a research report on Wednesday, May 1st. Barclays upped their target price on shares of Park Hotels & Resorts from $21.00 to $22.00 and gave the company an “overweight” rating in a research report on Friday, May 24th. Wedbush restated a “neutral” rating and issued a $17.00 price target on shares of Park Hotels & Resorts in a research report on Tuesday, May 28th. Evercore ISI raised Park Hotels & Resorts from an “in-line” rating to an “outperform” rating and lifted their price objective for the stock from $19.00 to $20.00 in a research note on Wednesday, May 15th. Finally, Wells Fargo & Company increased their target price 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. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $17.83.

Park Hotels & Resorts Company Profile

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.