Wealth Enhancement Advisory Services LLC Increases Position in Park Hotels & Resorts Inc. (NYSE:PK)

Wealth Enhancement Advisory Services LLC increased its stake in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 0.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 79,994 shares of the financial services provider’s stock after purchasing an additional 752 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Park Hotels & Resorts were worth $1,128,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. acquired a new position in shares of Park Hotels & Resorts during the third quarter worth $33,000. Venturi Wealth Management LLC grew its stake in Park Hotels & Resorts by 281.6% during the 3rd quarter. Venturi Wealth Management LLC now owns 3,850 shares of the financial services provider’s stock worth $54,000 after buying an additional 2,841 shares during the last quarter. Quarry LP increased its position in Park Hotels & Resorts by 82.1% during the 2nd quarter. Quarry LP now owns 4,118 shares of the financial services provider’s stock valued at $62,000 after buying an additional 1,857 shares in the last quarter. Claro Advisors LLC purchased a new stake in Park Hotels & Resorts in the third quarter valued at about $69,000. Finally, Covestor Ltd boosted its holdings in Park Hotels & Resorts by 64.8% in the third quarter. Covestor Ltd now owns 6,894 shares of the financial services provider’s stock worth $97,000 after acquiring an additional 2,711 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Wells Fargo & Company upped 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 report on Monday, December 9th. Compass Point cut their price target on shares of Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Wolfe Research downgraded shares of Park Hotels & Resorts from an “outperform” rating to a “peer perform” rating in a research note on Thursday, September 26th. Jefferies Financial Group cut their target price on 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, UBS Group lifted their price target on Park Hotels & Resorts from $14.00 to $15.00 and gave the stock a “neutral” rating in a research report on Monday, November 18th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Park Hotels & Resorts presently has a consensus rating of “Hold” and an average target price of $18.65.

Park Hotels & Resorts Stock Up 0.8 %

Shares of Park Hotels & Resorts stock opened at $13.82 on Thursday. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 1.24. Park Hotels & Resorts Inc. has a 52-week low of $13.22 and a 52-week high of $18.05. The company has a market capitalization of $2.85 billion, a P/E ratio of 8.80, a P/E/G ratio of 6.90 and a beta of 2.02. The company has a 50 day moving average of $14.80 and a 200 day moving average of $14.57.

Park Hotels & Resorts (NYSE:PK) last released its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.21). Park Hotels & Resorts had a net margin of 12.66% and a return on equity of 9.63%. The business had revenue of $649.00 million during the quarter, compared to analysts’ expectations of $646.15 million. During the same quarter in the previous year, the company posted $0.51 EPS. The company’s revenue was down 4.4% compared to the same quarter last year. As a group, research analysts forecast that Park Hotels & Resorts Inc. will post 1.96 EPS for the current fiscal year.

Park Hotels & Resorts Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.65 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This is an increase from Park Hotels & Resorts’s previous quarterly dividend of $0.25. This represents a $2.60 annualized dividend and a yield of 18.81%. Park Hotels & Resorts’s dividend payout ratio is currently 63.69%.

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.