Quest Partners LLC Raises Stock Holdings in Park Hotels & Resorts Inc. (NYSE:PK)

Quest Partners LLC grew its stake in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 208.3% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 77,450 shares of the financial services provider’s stock after acquiring an additional 52,326 shares during the period. Quest Partners LLC’s holdings in Park Hotels & Resorts were worth $1,160,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of PK. Fidelis Capital Partners LLC purchased a new position in Park Hotels & Resorts during the first quarter valued at approximately $26,000. Raleigh Capital Management Inc. bought a new position in shares of Park Hotels & Resorts during the fourth quarter valued at about $35,000. YHB Investment Advisors Inc. bought a new position in Park Hotels & Resorts during the 1st quarter valued at approximately $40,000. FinTrust Capital Advisors LLC boosted its holdings in Park Hotels & Resorts by 260.5% in the first quarter. FinTrust Capital Advisors LLC now owns 5,076 shares of the financial services provider’s stock valued at $89,000 after acquiring an additional 3,668 shares in the last quarter. Finally, EntryPoint Capital LLC lifted its holdings in Park Hotels & Resorts by 53.5% in the first quarter. EntryPoint Capital LLC now owns 6,488 shares of the financial services provider’s stock worth $113,000 after buying an additional 2,260 shares during the period. 92.69% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Truist Financial lowered their price target on shares of Park Hotels & Resorts from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th. Barclays raised their price target on Park Hotels & Resorts from $21.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday, May 24th. UBS Group lowered their target price on Park Hotels & Resorts from $18.00 to $14.00 and set a “neutral” rating on the stock in a research report on Friday, August 16th. Wedbush restated a “neutral” rating and issued a $17.00 price target on shares of Park Hotels & Resorts in a research note on Tuesday, May 28th. Finally, Evercore ISI cut their target price on shares of Park Hotels & Resorts from $20.00 to $19.00 and set an “outperform” rating for the company in a report on Tuesday, August 13th. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $17.25.

Park Hotels & Resorts Price Performance

Shares of NYSE PK opened at $14.08 on Tuesday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.58 and a current ratio of 1.58. The firm has a fifty day moving average of $14.59 and a 200 day moving average of $15.71. The firm has a market cap of $2.94 billion, a PE ratio of 31.99, a PEG ratio of 0.68 and a beta of 2.02. Park Hotels & Resorts Inc. has a one year low of $11.05 and a one year high of $18.05.

Park Hotels & Resorts (NYSE:PK) last issued its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.30). Park Hotels & Resorts had a return on equity of 8.77% and a net margin of 11.50%. The firm had revenue of $686.00 million during the quarter, compared to analyst estimates of $694.94 million. As a group, research analysts predict that Park Hotels & Resorts Inc. will post 2.11 EPS for the current fiscal year.

Park Hotels & Resorts Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, September 30th. This represents a $1.00 annualized dividend and a dividend yield of 7.10%. Park Hotels & Resorts’s dividend payout ratio is presently 227.28%.

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.