Barclays PLC Has $4.51 Million Holdings in Park Hotels & Resorts Inc. (NYSE:PK)

Barclays PLC lifted its stake in Park Hotels & Resorts Inc. (NYSE:PK) by 22.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 319,593 shares of the financial services provider’s stock after acquiring an additional 58,432 shares during the period. Barclays PLC owned approximately 0.15% of Park Hotels & Resorts worth $4,507,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Donald Smith & CO. Inc. raised its holdings in Park Hotels & Resorts by 22.5% in the 3rd quarter. Donald Smith & CO. Inc. now owns 8,077,286 shares of the financial services provider’s stock valued at $113,890,000 after acquiring an additional 1,484,295 shares in the last quarter. AQR Capital Management LLC lifted its position in Park Hotels & Resorts by 287.7% in the second quarter. AQR Capital Management LLC now owns 5,252,853 shares of the financial services provider’s stock worth $77,217,000 after purchasing an additional 3,897,889 shares during the period. Dimensional Fund Advisors LP boosted its stake in Park Hotels & Resorts by 3.8% during the second quarter. Dimensional Fund Advisors LP now owns 3,113,325 shares of the financial services provider’s stock worth $46,638,000 after buying an additional 115,391 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Park Hotels & Resorts by 2.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,902,728 shares of the financial services provider’s stock valued at $40,928,000 after buying an additional 66,093 shares during the period. Finally, Jupiter Asset Management Ltd. raised its stake in shares of Park Hotels & Resorts by 286.9% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 2,597,091 shares of the financial services provider’s stock valued at $38,904,000 after buying an additional 1,925,850 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

Park Hotels & Resorts Trading Up 2.6 %

Shares of NYSE PK opened at $14.85 on Friday. Park Hotels & Resorts Inc. has a 1-year low of $13.23 and a 1-year high of $18.05. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 1.24. The company has a 50-day moving average of $14.77 and a two-hundred day moving average of $14.66. The company has a market cap of $3.07 billion, a PE ratio of 9.46, a P/E/G ratio of 6.90 and a beta of 2.03.

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

Park Hotels & Resorts Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 17.51%. The ex-dividend date is Tuesday, December 31st. This is a positive change from Park Hotels & Resorts’s previous quarterly dividend of $0.25. Park Hotels & Resorts’s dividend payout ratio (DPR) is 63.69%.

Analyst Ratings Changes

Several analysts have recently weighed in on PK shares. Wolfe Research cut shares of Park Hotels & Resorts from an “outperform” rating to a “peer perform” rating in a research note on Thursday, September 26th. Truist Financial dropped their target price on Park Hotels & Resorts from $20.00 to $18.00 and set a “buy” rating for the company in a report on Wednesday, September 4th. UBS Group raised their target price 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. Wells Fargo & Company upped their price target on Park Hotels & Resorts from $16.00 to $17.00 and gave the company an “equal weight” rating in a research report on Monday, December 9th. Finally, Bank of America reduced their target price on shares of Park Hotels & Resorts from $17.00 to $16.50 and set a “neutral” rating on the stock in a research note on Monday, October 21st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Park Hotels & Resorts presently has an average rating of “Hold” and an average target price of $18.55.

About Park Hotels & Resorts

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.