State of New Jersey Common Pension Fund D Has $3.06 Million Stock Holdings in Park Hotels & Resorts Inc. (NYSE:PK)

State of New Jersey Common Pension Fund D lifted its position in Park Hotels & Resorts Inc. (NYSE:PK) by 20.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 204,422 shares of the financial services provider’s stock after acquiring an additional 35,219 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.10% of Park Hotels & Resorts worth $3,062,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of PK. Fidelis Capital Partners LLC acquired a new stake in shares of Park Hotels & Resorts in the 1st quarter valued at approximately $26,000. Raleigh Capital Management Inc. acquired a new stake in Park Hotels & Resorts during the 4th quarter worth approximately $35,000. YHB Investment Advisors Inc. acquired a new stake in Park Hotels & Resorts during the 1st quarter worth approximately $40,000. FinTrust Capital Advisors LLC raised its holdings in Park Hotels & Resorts by 260.5% during the 1st quarter. FinTrust Capital Advisors LLC now owns 5,076 shares of the financial services provider’s stock worth $89,000 after buying an additional 3,668 shares during the period. Finally, EntryPoint Capital LLC raised its holdings in Park Hotels & Resorts by 53.5% during the 1st quarter. EntryPoint Capital LLC now owns 6,488 shares of the financial services provider’s stock worth $113,000 after buying an additional 2,260 shares during the period. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Park Hotels & Resorts Price Performance

NYSE:PK opened at $14.38 on Wednesday. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 1.23. The firm has a fifty day simple moving average of $14.51 and a 200 day simple moving average of $15.59. Park Hotels & Resorts Inc. has a 1-year low of $11.05 and a 1-year high of $18.05. The stock has a market capitalization of $3.03 billion, a PE ratio of 32.68, a P/E/G ratio of 0.66 and a beta of 2.02.

Park Hotels & Resorts (NYSE:PK) last released its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.30). Park Hotels & Resorts had a return on equity of 8.77% and a net margin of 11.50%. The company had revenue of $686.00 million for the quarter, compared to the consensus estimate of $694.94 million. On average, research analysts expect that Park Hotels & Resorts Inc. will post 2.11 EPS for the current fiscal year.

Park Hotels & Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a dividend of $0.25 per share. The ex-dividend date is Monday, September 30th. This represents a $1.00 dividend on an annualized basis and a yield of 6.95%. Park Hotels & Resorts’s dividend payout ratio (DPR) is 227.27%.

Analyst Ratings Changes

Several analysts have commented on PK shares. Wells Fargo & Company dropped their target price on shares of Park Hotels & Resorts from $17.00 to $14.50 and set an “equal weight” rating on the stock in a report on Friday, September 13th. Wedbush restated a “neutral” rating and set a $17.00 target price on shares of Park Hotels & Resorts in a report on Tuesday, May 28th. Barclays raised their target price 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. Evercore ISI decreased their price target on shares of Park Hotels & Resorts from $20.00 to $19.00 and set an “outperform” rating for the company in a research note on Tuesday, August 13th. Finally, UBS Group decreased their price target on shares of Park Hotels & Resorts from $18.00 to $14.00 and set a “neutral” rating for the company in a research note on Friday, August 16th. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $16.96.

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.