Janney Montgomery Scott LLC Has $191,000 Position in Park Hotels & Resorts Inc. (NYSE:PK)

Janney Montgomery Scott LLC reduced its holdings in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 9.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 13,549 shares of the financial services provider’s stock after selling 1,381 shares during the period. Janney Montgomery Scott LLC’s holdings in Park Hotels & Resorts were worth $191,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. Donald Smith & CO. Inc. boosted 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 valued at $113,890,000 after buying an additional 1,484,295 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Park Hotels & Resorts by 321.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,409,574 shares of the financial services provider’s stock valued at $19,875,000 after buying an additional 1,075,255 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its position in Park Hotels & Resorts by 345.9% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,035,082 shares of the financial services provider’s stock valued at $14,595,000 after buying an additional 802,939 shares in the last quarter. Foundry Partners LLC acquired a new position in Park Hotels & Resorts in the third quarter valued at about $9,238,000. Finally, JPMorgan Chase & Co. boosted its position in Park Hotels & Resorts by 18.4% in 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 buying an additional 540,920 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Park Hotels & Resorts Trading Up 0.5 %

PK opened at $12.78 on Friday. 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 company has a market cap of $2.64 billion, a price-to-earnings ratio of 8.14 and a beta of 2.00. The firm has a 50 day simple moving average of $14.14 and a 200 day simple moving average of $14.39. Park Hotels & Resorts Inc. has a fifty-two week low of $12.56 and a fifty-two week high of $18.05.

Park Hotels & Resorts Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 20.35%. This is an increase from Park Hotels & Resorts’s previous quarterly dividend of $0.25. The ex-dividend date was Tuesday, December 31st. Park Hotels & Resorts’s payout ratio is 63.69%.

Analysts Set New Price Targets

A number of research firms have commented on PK. Jefferies Financial Group reduced their price target on shares of Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating on the stock in a research report on Thursday, January 2nd. Compass Point dropped their target price on shares of Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Wells Fargo & Company boosted their target price on shares of Park Hotels & Resorts from $16.00 to $17.00 and gave the stock an “equal weight” rating in a research note on Monday, December 9th. UBS Group dropped their target price on shares of Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating for the company in a research note on Monday, February 3rd. Finally, StockNews.com raised shares of Park Hotels & Resorts from a “sell” rating to a “hold” rating in a research note on Thursday. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Park Hotels & Resorts presently has a consensus rating of “Moderate Buy” and an average price target of $18.45.

Park Hotels & Resorts Company Profile

Park Hotels & Resorts, Inc operates as a real estate investment trust, which owns and operates hotels and resorts. It operates through the Consolidated Hotels and Unconsolidated Hotels segments. Its portfolio of hotels and resorts include the Waldorf Astoria Hotels and Resorts, Conrad Hotels & Resorts, Hilton Hotels & Resorts, DoubleTree by Hilton, Embassy Suites by Hilton, Hilton Garden Inn, Hampton by Hilton, and Curio.