Kendall Capital Management Increases Position in Park Hotels & Resorts Inc. (NYSE:PK)

Kendall Capital Management lifted its holdings in Park Hotels & Resorts Inc. (NYSE:PK) by 10.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,405 shares of the financial services provider’s stock after purchasing an additional 1,450 shares during the period. Kendall Capital Management’s holdings in Park Hotels & Resorts were worth $217,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. XTX Topco Ltd increased its stake in shares of Park Hotels & Resorts by 420.7% in the 3rd quarter. XTX Topco Ltd now owns 89,168 shares of the financial services provider’s stock valued at $1,257,000 after purchasing an additional 72,044 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Park Hotels & Resorts by 321.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,409,574 shares of the financial services provider’s stock valued at $19,875,000 after purchasing an additional 1,075,255 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Park Hotels & Resorts by 18.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,488,097 shares of the financial services provider’s stock valued at $49,182,000 after purchasing an additional 540,920 shares in the last quarter. Northeast Financial Group Inc. increased its stake in shares of Park Hotels & Resorts by 34.4% in the 4th quarter. Northeast Financial Group Inc. now owns 124,674 shares of the financial services provider’s stock valued at $1,754,000 after purchasing an additional 31,928 shares in the last quarter. Finally, Systematic Financial Management LP purchased a new position in shares of Park Hotels & Resorts in the 3rd quarter valued at about $768,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. StockNews.com lowered Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research note on Friday, February 21st. UBS Group cut their price objective on Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating for the company in a research note on Monday, February 3rd. Wells Fargo & Company cut their price objective on Park Hotels & Resorts from $17.00 to $14.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 18th. Finally, Jefferies Financial Group cut their price objective on Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating for the company in a research note on Thursday, January 2nd. One equities 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, the company currently has an average rating of “Hold” and an average price target of $18.15.

Park Hotels & Resorts Price Performance

PK stock opened at $12.39 on Monday. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.19 and a quick ratio of 1.51. The business has a 50 day simple moving average of $13.21 and a 200-day simple moving average of $14.17. The firm has a market capitalization of $2.50 billion, a PE ratio of 12.26, a price-to-earnings-growth ratio of 1.51 and a beta of 2.02. Park Hotels & Resorts Inc. has a 1 year low of $11.51 and a 1 year high of $18.05.

Park Hotels & Resorts (NYSE:PK) last released its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.01). Park Hotels & Resorts had a net margin of 8.16% and a return on equity of 5.63%. The business had revenue of $625.00 million during the quarter, compared to analyst estimates of $609.05 million. Equities research analysts anticipate that Park Hotels & Resorts Inc. will post 2.11 earnings per share for the current fiscal year.

Park Hotels & Resorts Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 8.07%. The ex-dividend date is Monday, March 31st. Park Hotels & Resorts’s dividend payout ratio is presently 99.01%.

About Park Hotels & Resorts

Park Hotels & Resorts, Inc operates as a real estate investment trust, which owns and operates hotels and resorts. It operates through the Consolidated Hotels and Unconsolidated Hotels segments. Its portfolio of hotels and resorts include the Waldorf Astoria Hotels and Resorts, Conrad Hotels & Resorts, Hilton Hotels & Resorts, DoubleTree by Hilton, Embassy Suites by Hilton, Hilton Garden Inn, Hampton by Hilton, and Curio.