Park Hotels & Resorts Inc. (NYSE:PK) Stock Position Trimmed by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC trimmed its position in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 4.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 119,496 shares of the financial services provider’s stock after selling 6,198 shares during the period. Nisa Investment Advisors LLC owned 0.06% of Park Hotels & Resorts worth $1,763,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the company. Donald Smith & CO. Inc. boosted its position in shares of Park Hotels & Resorts by 22.5% during the third quarter. Donald Smith & CO. Inc. now owns 8,077,286 shares of the financial services provider’s stock worth $113,890,000 after buying an additional 1,484,295 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Park Hotels & Resorts by 18.4% in the third quarter. JPMorgan Chase & Co. now owns 3,488,097 shares of the financial services provider’s stock worth $49,182,000 after purchasing an additional 540,920 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of 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 valued at $46,638,000 after purchasing an additional 115,391 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Park Hotels & Resorts by 2.3% during the third 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 purchasing an additional 66,093 shares in the last quarter. Finally, Private Management Group Inc. lifted its holdings in Park Hotels & Resorts by 11.2% in the third quarter. Private Management Group Inc. now owns 2,225,243 shares of the financial services provider’s stock worth $31,376,000 after purchasing an additional 223,562 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

Park Hotels & Resorts Price Performance

NYSE PK opened at $13.43 on Monday. Park Hotels & Resorts Inc. has a 1 year low of $13.22 and a 1 year high of $18.05. The stock’s 50-day moving average price is $14.64 and its two-hundred day moving average price is $14.53. The company has a market cap of $2.77 billion, a PE ratio of 8.56, a PEG ratio of 5.69 and a beta of 2.02. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 1.24.

Park Hotels & Resorts (NYSE:PK) last issued its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $0.26 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.21). Park Hotels & Resorts had a net margin of 12.66% and a return on equity of 9.63%. The firm had revenue of $649.00 million during the quarter, compared to analysts’ expectations of $646.15 million. During the same quarter last year, the company posted $0.51 EPS. The firm’s revenue was down 4.4% compared to the same quarter last year. On average, analysts predict that Park Hotels & Resorts Inc. will post 1.97 EPS for the current year.

Park Hotels & Resorts Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 19.36%. This is a positive change from Park Hotels & Resorts’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Tuesday, December 31st. Park Hotels & Resorts’s payout ratio is presently 63.69%.

Analysts Set New Price Targets

PK has been the topic of several research analyst reports. Wells Fargo & Company raised their target price on shares of Park Hotels & Resorts from $16.00 to $17.00 and gave the company an “equal weight” rating in a research note on Monday, December 9th. Bank of America dropped their target price on Park Hotels & Resorts from $17.00 to $16.50 and set a “neutral” rating on the stock in a report on Monday, October 21st. Compass Point decreased their price target on Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. StockNews.com downgraded Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research note on Tuesday, January 7th. Finally, Jefferies Financial Group decreased their target price 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 investment analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $18.65.

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.