Federated Hermes Inc. Purchases 16,591 Shares of Park Hotels & Resorts Inc. (NYSE:PK)

Federated Hermes Inc. increased its position in Park Hotels & Resorts Inc. (NYSE:PK) by 12.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 152,516 shares of the financial services provider’s stock after purchasing an additional 16,591 shares during the period. Federated Hermes Inc. owned 0.07% of Park Hotels & Resorts worth $2,285,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in PK. Fidelis Capital Partners LLC bought a new stake in shares of Park Hotels & Resorts in the 1st quarter worth approximately $26,000. Raleigh Capital Management Inc. purchased a new position in Park Hotels & Resorts during the fourth quarter valued at $35,000. YHB Investment Advisors Inc. bought a new stake in Park Hotels & Resorts in the first quarter worth $40,000. FinTrust Capital Advisors LLC grew its stake in shares of Park Hotels & Resorts by 260.5% in the first quarter. FinTrust Capital Advisors LLC now owns 5,076 shares of the financial services provider’s stock worth $89,000 after acquiring an additional 3,668 shares during the last quarter. Finally, EntryPoint Capital LLC increased its holdings in shares of Park Hotels & Resorts by 53.5% during the first quarter. EntryPoint Capital LLC now owns 6,488 shares of the financial services provider’s stock valued at $113,000 after acquiring an additional 2,260 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

Park Hotels & Resorts Stock Down 0.6 %

PK stock opened at $15.61 on Friday. The company has a market cap of $3.26 billion, a price-to-earnings ratio of 35.47, a P/E/G ratio of 0.68 and a beta of 2.02. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.58 and a current ratio of 1.58. The business’s 50-day moving average is $14.56 and its two-hundred day moving average is $15.57. Park Hotels & Resorts Inc. has a fifty-two week low of $11.05 and a fifty-two week high of $18.05.

Park Hotels & Resorts (NYSE:PK) last released its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $0.30 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.30). The business had revenue of $686.00 million for the quarter, compared to analysts’ expectations of $694.94 million. Park Hotels & Resorts had a net margin of 11.50% and a return on equity of 8.77%. As a group, analysts forecast that Park Hotels & Resorts Inc. will post 2.11 earnings per share for the current year.

Park Hotels & Resorts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 6.41%. The ex-dividend date of this dividend is Monday, September 30th. Park Hotels & Resorts’s dividend payout ratio is presently 227.28%.

Wall Street Analyst Weigh In

PK has been the topic of a number of analyst reports. Truist Financial dropped their price target on shares of Park Hotels & Resorts from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Wednesday, September 4th. Barclays increased their price target on shares of Park Hotels & Resorts from $21.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, May 24th. UBS Group decreased their price objective on shares of Park Hotels & Resorts from $18.00 to $14.00 and set a “neutral” rating for the company in a report on Friday, August 16th. Evercore ISI cut their target price on Park Hotels & Resorts from $20.00 to $19.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 13th. Finally, Wells Fargo & Company decreased their price target on Park Hotels & Resorts from $17.00 to $14.50 and set an “equal weight” rating for the company in a research note on Friday, September 13th. Seven research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $16.96.

Park Hotels & Resorts Company 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.