New York State Common Retirement Fund Sells 16,100 Shares of Park Hotels & Resorts Inc. (NYSE:PK)

New York State Common Retirement Fund cut its position in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 17.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 77,771 shares of the financial services provider’s stock after selling 16,100 shares during the period. New York State Common Retirement Fund’s holdings in Park Hotels & Resorts were worth $1,094,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of PK. Harbor Capital Advisors Inc. purchased a new position in shares of Park Hotels & Resorts in the 3rd quarter valued at $33,000. Venturi Wealth Management LLC increased its holdings in shares of Park Hotels & Resorts by 281.6% in the 3rd quarter. Venturi Wealth Management LLC now owns 3,850 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 2,841 shares during the period. Covestor Ltd increased its holdings in shares of Park Hotels & Resorts by 64.8% in the 3rd quarter. Covestor Ltd now owns 6,894 shares of the financial services provider’s stock valued at $97,000 after acquiring an additional 2,711 shares during the period. KBC Group NV increased its holdings in shares of Park Hotels & Resorts by 34.4% in the 3rd quarter. KBC Group NV now owns 7,360 shares of the financial services provider’s stock valued at $104,000 after acquiring an additional 1,882 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Park Hotels & Resorts in the 3rd quarter valued at $116,000. 92.69% of the stock is owned by institutional investors.

Park Hotels & Resorts Stock Down 2.2 %

Park Hotels & Resorts stock opened at $12.01 on Tuesday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.51 and a current ratio of 1.19. The business’s 50-day simple moving average is $13.45 and its two-hundred day simple moving average is $14.24. The company has a market cap of $2.43 billion, a PE ratio of 11.89, a PEG ratio of 1.51 and a beta of 2.00. Park Hotels & Resorts Inc. has a fifty-two week low of $11.95 and a fifty-two week high of $18.05.

Park Hotels & Resorts (NYSE:PK) last posted its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.01). The firm had revenue of $625.00 million for the quarter, compared to analysts’ expectations of $609.05 million. Park Hotels & Resorts had a net margin of 8.16% and a return on equity of 5.63%. Equities analysts anticipate that Park Hotels & Resorts Inc. will post 2.11 EPS for the current year.

Park Hotels & Resorts Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.00 annualized dividend and a yield of 8.33%. Park Hotels & Resorts’s payout ratio is presently 99.01%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on PK shares. StockNews.com downgraded Park Hotels & Resorts from a “hold” rating to a “sell” rating in a report on Friday, February 21st. Jefferies Financial Group cut their price target on Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. UBS Group cut their price target on Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating on the stock in a report on Monday, February 3rd. Finally, Wells Fargo & Company dropped their target price on Park Hotels & Resorts from $17.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $18.15.

Park Hotels & Resorts 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.