Yousif Capital Management LLC Trims Holdings in Park Hotels & Resorts Inc. (NYSE:PK)

Yousif Capital Management LLC reduced its holdings in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 4.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 58,055 shares of the financial services provider’s stock after selling 2,659 shares during the period. Yousif Capital Management LLC’s holdings in Park Hotels & Resorts were worth $817,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of PK. Donald Smith & CO. Inc. raised its stake in shares of Park Hotels & Resorts by 22.5% during 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 during the last quarter. JPMorgan Chase & Co. raised its position in Park Hotels & Resorts by 18.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,488,097 shares of the financial services provider’s stock worth $49,182,000 after buying an additional 540,920 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Park Hotels & Resorts by 2.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,902,728 shares of the financial services provider’s stock worth $40,928,000 after acquiring an additional 66,093 shares during the period. Private Management Group Inc. boosted its holdings in shares of 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 in the last quarter. Finally, Los Angeles Capital Management LLC increased its stake in shares of Park Hotels & Resorts by 1.2% during the third quarter. Los Angeles Capital Management LLC now owns 2,046,671 shares of the financial services provider’s stock worth $28,858,000 after acquiring an additional 24,325 shares during the period. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have weighed in on PK. Compass Point lowered their price objective on Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Bank of America dropped their price objective on Park Hotels & Resorts from $17.00 to $16.50 and set a “neutral” rating on the stock in a report on Monday, October 21st. Wells Fargo & Company raised their target price on Park Hotels & Resorts from $16.00 to $17.00 and gave the company an “equal weight” rating in a report on Monday, December 9th. Jefferies Financial Group decreased 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 research report on Thursday, January 2nd. Finally, StockNews.com upgraded shares of Park Hotels & Resorts from a “sell” rating to a “hold” rating in a research note on Thursday. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Park Hotels & Resorts presently has an average rating of “Moderate Buy” and a consensus target price of $18.45.

Park Hotels & Resorts Stock Performance

Shares of PK opened at $12.88 on Friday. The company has a 50-day moving average of $14.02 and a two-hundred day moving average of $14.36. The stock has a market cap of $2.66 billion, a P/E ratio of 8.20 and a beta of 2.00. Park Hotels & Resorts Inc. has a 12-month low of $12.56 and a 12-month high of $18.05. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 1.24.

Park Hotels & Resorts Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a $0.65 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $2.60 dividend on an annualized basis and a yield of 20.19%. This is a positive change from Park Hotels & Resorts’s previous quarterly dividend of $0.25. Park Hotels & Resorts’s dividend payout ratio is presently 63.69%.

About Park Hotels & Resorts

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.