Bailard Inc. Trims Stock Position in Park Hotels & Resorts Inc. (NYSE:PK)

Bailard Inc. lessened its holdings in Park Hotels & Resorts Inc. (NYSE:PK) by 12.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 37,600 shares of the financial services provider’s stock after selling 5,200 shares during the period. Bailard Inc.’s holdings in Park Hotels & Resorts were worth $575,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. FNY Investment Advisers LLC acquired a new position in shares of Park Hotels & Resorts in the fourth quarter valued at approximately $42,000. Spire Wealth Management raised its position in shares of Park Hotels & Resorts by 20.1% in the third quarter. Spire Wealth Management now owns 5,145 shares of the financial services provider’s stock valued at $63,000 after buying an additional 860 shares during the last quarter. Covestor Ltd raised its position in shares of Park Hotels & Resorts by 31.5% in the third quarter. Covestor Ltd now owns 5,596 shares of the financial services provider’s stock valued at $69,000 after buying an additional 1,340 shares during the last quarter. Signaturefd LLC raised its position 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 buying an additional 727 shares during the last quarter. Finally, L2 Asset Management LLC acquired a new position in shares of Park Hotels & Resorts in the third quarter valued at approximately $130,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Park Hotels & Resorts Price Performance

Shares of PK stock opened at $16.57 on Friday. The firm has a market cap of $3.49 billion, a P/E ratio of 36.02, a P/E/G ratio of 0.85 and a beta of 2.03. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.30 and a quick ratio of 1.30. Park Hotels & Resorts Inc. has a 1-year low of $11.05 and a 1-year high of $18.05. The firm has a fifty day moving average of $16.91 and a two-hundred day moving average of $15.43.

Park Hotels & Resorts (NYSE:PK) last announced its quarterly earnings data on Tuesday, February 27th. The financial services provider reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.39. The company had revenue of $657.00 million during the quarter, compared to analyst estimates of $665.16 million. Park Hotels & Resorts had a net margin of 3.60% and a return on equity of 2.44%. As a group, research analysts anticipate that Park Hotels & Resorts Inc. will post 2.06 earnings per share for the current fiscal year.

Park Hotels & Resorts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 6.04%. The ex-dividend date of this dividend is Friday, June 28th. Park Hotels & Resorts’s dividend payout ratio (DPR) is presently 217.39%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PK. StockNews.com lowered shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research report on Tuesday, April 23rd. Barclays upped their price target on shares of Park Hotels & Resorts from $19.00 to $21.00 and gave the stock an “overweight” rating in a research report on Friday, March 1st. Citigroup raised shares of Park Hotels & Resorts from a “neutral” rating to a “buy” rating and upped their price target for the stock from $14.00 to $20.00 in a research report on Friday, March 22nd. UBS Group upped their price target on shares of Park Hotels & Resorts from $14.00 to $18.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 6th. Finally, Jefferies Financial Group raised shares of Park Hotels & Resorts from a “hold” rating to a “buy” rating and increased their price objective for the stock from $14.00 to $21.00 in a research report on Tuesday, January 2nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Park Hotels & Resorts has a consensus rating of “Hold” and an average price target of $17.58.

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.