Park Hotels & Resorts Inc. (NYSE:PK) Shares Bought by Victory Capital Management Inc.

Victory Capital Management Inc. grew its holdings in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 12.8% in the second quarter, according to its most recent filing with the SEC. The firm owned 89,729 shares of the financial services provider’s stock after acquiring an additional 10,212 shares during the quarter. Victory Capital Management Inc.’s holdings in Park Hotels & Resorts were worth $1,344,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Park Hotels & Resorts during the fourth quarter worth $31,745,000. Los Angeles Capital Management LLC increased its holdings in Park Hotels & Resorts by 601.1% in the 1st quarter. Los Angeles Capital Management LLC now owns 2,111,004 shares of the financial services provider’s stock valued at $36,921,000 after buying an additional 1,809,886 shares during the period. SG Americas Securities LLC increased its holdings in Park Hotels & Resorts by 15,714.0% in the 1st quarter. SG Americas Securities LLC now owns 1,301,019 shares of the financial services provider’s stock valued at $22,755,000 after buying an additional 1,292,792 shares during the period. Epoch Investment Partners Inc. increased its holdings in Park Hotels & Resorts by 135.7% in the 1st quarter. Epoch Investment Partners Inc. now owns 1,391,881 shares of the financial services provider’s stock valued at $24,344,000 after buying an additional 801,372 shares during the period. Finally, Lighthouse Investment Partners LLC bought a new stake in Park Hotels & Resorts in the 4th quarter valued at $9,180,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Evercore ISI lowered their price target on shares of Park Hotels & Resorts from $20.00 to $19.00 and set an “outperform” rating on the stock in a report on Tuesday, August 13th. Wells Fargo & Company lowered their price target on shares of Park Hotels & Resorts from $17.00 to $14.50 and set an “equal weight” rating on the stock in a report on Friday, September 13th. Wedbush reissued a “neutral” rating and issued a $17.00 price target on shares of Park Hotels & Resorts in a report on Tuesday, May 28th. Truist Financial lowered their price target on shares of Park Hotels & Resorts from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Wednesday, September 4th. Finally, Barclays boosted their price target on shares of Park Hotels & Resorts from $21.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, May 24th. Seven research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $16.96.

Park Hotels & Resorts Stock Up 7.2 %

Shares of NYSE:PK opened at $15.70 on Friday. Park Hotels & Resorts Inc. has a 52 week low of $11.05 and a 52 week high of $18.05. 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 company’s fifty day moving average is $14.54 and its 200-day moving average is $15.58. The company has a market capitalization of $3.31 billion, a PE ratio of 35.68, a P/E/G ratio of 0.66 and a beta of 2.02.

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 the consensus estimate of $0.60 by ($0.30). The company had revenue of $686.00 million for the quarter, compared to analyst estimates of $694.94 million. Park Hotels & Resorts had a return on equity of 8.77% and a net margin of 11.50%. Equities research analysts predict that Park Hotels & Resorts Inc. will post 2.11 earnings per share for the current fiscal year.

Park Hotels & Resorts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a dividend of $0.25 per share. The ex-dividend date is Monday, September 30th. This represents a $1.00 annualized dividend and a yield of 6.37%. Park Hotels & Resorts’s dividend payout ratio (DPR) is 227.27%.

Park Hotels & Resorts 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.