Cwm LLC grew its position in Park Hotels & Resorts Inc. (NYSE:PK – Free Report) by 1,875.4% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 56,258 shares of the financial services provider after purchasing an additional 53,410 shares during the same period. Cwm LLC’s holdings in Park Hotels & Resorts were worth $843,000, according to the most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in PK. Retirement Systems of Alabama increased its holdings in shares of Park Hotels & Resorts by 0.3% in the first quarter. Retirement Systems of Alabama now owns 263,688 shares of the financial services provider’s stock valued at $4,612,000 after purchasing an additional 693 shares in the last quarter. Signaturefd LLC increased its holdings in shares of Park Hotels & Resorts by 12.7% in the fourth quarter. Signaturefd LLC now owns 6,437 shares of the financial services provider’s stock valued at $98,000 after purchasing an additional 727 shares in the last quarter. Truist Financial Corp increased its holdings in shares of Park Hotels & Resorts by 3.8% in the fourth quarter. Truist Financial Corp now owns 22,335 shares of the financial services provider’s stock valued at $342,000 after purchasing an additional 816 shares during the period. The Treasurer of the State of North Carolina increased its holdings in shares of Park Hotels & Resorts by 1.0% in the fourth quarter. The Treasurer of the State of North Carolina now owns 94,701 shares of the financial services provider’s stock valued at $1,449,000 after acquiring an additional 920 shares during the last quarter. Finally, the State of Michigan Retirement System increased its holdings in Park Hotels & Resorts by 2.2% in the first quarter. The State of Michigan Retirement System now owns 51,529 shares of the financial services provider’s stock valued at $901,000 after acquiring an additional 1,100 shares during the period. Institutional investors own 92.69% of the company’s stock.
Changes in analyst ratings
Several equities analysts have commented on PK shares. Barclays raised their price target on shares of Park Hotels & Resorts from $21.00 to $22.00 and gave the company an “overweight” rating in a research note on Friday, May 24th. Evercore ISI upgraded Park Hotels & Resorts from an “in-line” rating to an “outperform” rating and increased their price target for the company from $19.00 to $20.00 in a research report on Wednesday, May 15th. StockNews.com upgraded Park Hotels & Resorts from a “sell” rating to a “hold” rating in a research report on Wednesday, May 1st. Wedbush reiterated a “neutral” rating and set a $17.00 price target on shares of Park Hotels & Resorts in a research note on Tuesday, May 28th. Finally, Truist Financial lowered their price target on shares of Park Hotels & Resorts from $21.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday, May 30. Seven research analysts have rated the stock with a “hold” rating and six have given a “buy” rating. According to MarketBeat, Park Hotels & Resorts has a consensus rating of “Hold” and an average price target of $17.83.
Read our latest research report on PK
Performance of Park Hotels & Resorts shares
NYSE PK shares opened at $14.05 on Monday. Park Hotels & Resorts Inc. has a 1-year low of $11.05 and a 1-year high of $18.05. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.58 and a quick ratio of 1.58. The stock has a market cap of $2.96 billion, a P/E ratio of 31.93, a price-to-earnings-growth ratio of 0.67 and a beta of 2.03. The company has a 50-day moving average price of $14.74 and a 200-day moving average price of $15.79.
Park Hotels & Resorts announces dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will receive a dividend of $0.25 per share. This represents an annualized dividend of $1.00 and a dividend yield of 7.12%. The ex-dividend date is Monday, September 30th. Park Hotels & Resorts’ dividend payout ratio is currently 227.27%.
Park Hotels & Resorts Company Profile
(Free report)
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 downtown and resort locations.
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