Pacer Advisors Inc. Sells 1,547 Shares of Park Hotels & Resorts Inc. (NYSE:PK)

Pacer Advisors Inc. trimmed its position in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 3.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,012 shares of the financial services provider’s stock after selling 1,547 shares during the period. Pacer Advisors Inc.’s holdings in Park Hotels & Resorts were worth $563,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Donald Smith & CO. Inc. raised its position in Park Hotels & Resorts by 22.5% in the third quarter. Donald Smith & CO. Inc. now owns 8,077,286 shares of the financial services provider’s stock worth $113,890,000 after purchasing an additional 1,484,295 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Park Hotels & Resorts by 18.4% during the third quarter. JPMorgan Chase & Co. now owns 3,488,097 shares of the financial services provider’s stock valued at $49,182,000 after purchasing an additional 540,920 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Park Hotels & Resorts by 2.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,902,728 shares of the financial services provider’s stock valued at $40,928,000 after acquiring an additional 66,093 shares during the last quarter. Private Management Group Inc. boosted its stake in Park Hotels & Resorts by 11.2% in the third quarter. Private Management Group Inc. now owns 2,225,243 shares of the financial services provider’s stock valued at $31,376,000 after acquiring an additional 223,562 shares during the last quarter. Finally, Los Angeles Capital Management LLC boosted its stake in Park Hotels & Resorts by 1.2% in the third quarter. Los Angeles Capital Management LLC now owns 2,046,671 shares of the financial services provider’s stock valued at $28,858,000 after acquiring an additional 24,325 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors.

Park Hotels & Resorts Price Performance

PK stock opened at $13.12 on Tuesday. Park Hotels & Resorts Inc. has a 1 year low of $12.80 and a 1 year high of $18.05. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.51 and a quick ratio of 1.51. The stock has a market cap of $2.71 billion, a price-to-earnings ratio of 8.36 and a beta of 2.00. The company has a 50 day simple moving average of $14.54 and a 200 day simple moving average of $14.48.

Park Hotels & Resorts Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a $0.65 dividend. This is a positive change from Park Hotels & Resorts’s previous quarterly dividend of $0.25. This represents a $2.60 dividend on an annualized basis and a dividend yield of 19.82%. The ex-dividend date of this dividend was Tuesday, December 31st. Park Hotels & Resorts’s dividend payout ratio is currently 63.69%.

Wall Street Analyst Weigh In

Several research firms have weighed in on PK. Jefferies Financial Group cut their target price on shares of Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. Wells Fargo & Company lifted their price objective on shares of Park Hotels & Resorts from $16.00 to $17.00 and gave the company an “equal weight” rating in a research report on Monday, December 9th. UBS Group decreased their price objective on shares of Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating for the company in a research report on Monday. StockNews.com raised shares of Park Hotels & Resorts from a “sell” rating to a “hold” rating in a report on Tuesday, January 28th. Finally, Bank of America dropped their price objective on shares of Park Hotels & Resorts from $17.00 to $16.50 and set a “neutral” rating for the company in a research note on Monday, October 21st. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.45.

Park Hotels & Resorts 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.