Park Hotels & Resorts Inc. (NYSE:PK) Shares Sold by Ameriprise Financial Inc.

Ameriprise Financial Inc. reduced its holdings in shares of Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 17.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,661,066 shares of the financial services provider's stock after selling 349,878 shares during the period. Ameriprise Financial Inc. owned about 0.80% of Park Hotels & Resorts worth $23,419,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in PK. Norges Bank purchased a new stake in Park Hotels & Resorts during the 4th quarter worth approximately $41,087,000. Landmark Investment Partners L.P. purchased a new stake in Park Hotels & Resorts during the 4th quarter worth approximately $21,342,000. Invesco Ltd. increased its stake in Park Hotels & Resorts by 84.0% during the 4th quarter. Invesco Ltd. now owns 2,837,917 shares of the financial services provider's stock worth $39,929,000 after buying an additional 1,295,548 shares during the period. Donald Smith & CO. Inc. increased its stake in Park Hotels & Resorts by 13.9% during the 4th quarter. Donald Smith & CO. Inc. now owns 9,200,125 shares of the financial services provider's stock worth $129,446,000 after buying an additional 1,122,839 shares during the period. Finally, National Bank of Canada FI purchased a new stake in shares of Park Hotels & Resorts in the 4th quarter valued at approximately $14,890,000. 92.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on PK shares. Morgan Stanley decreased their price objective on shares of Park Hotels & Resorts from $12.00 to $10.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 22nd. Evercore ISI cut shares of Park Hotels & Resorts from an "outperform" rating to an "in-line" rating and set a $13.00 price objective for the company. in a research report on Friday. UBS Group decreased their price objective on shares of Park Hotels & Resorts from $15.00 to $13.00 and set a "neutral" rating for the company in a research report on Monday, February 3rd. Bank of America cut shares of Park Hotels & Resorts from a "neutral" rating to an "underperform" rating and set a $11.00 price objective for the company. in a research report on Wednesday, April 30th. Finally, Truist Financial decreased their price objective on shares of Park Hotels & Resorts from $18.00 to $16.00 and set a "buy" rating for the company in a research report on Friday, March 21st. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $14.60.

Park Hotels & Resorts Price Performance

Shares of NYSE PK traded up $0.05 on Friday, hitting $10.88. The company's stock had a trading volume of 3,553,985 shares, compared to its average volume of 3,425,622. Park Hotels & Resorts Inc. has a 12-month low of $8.27 and a 12-month high of $16.42. The company has a market capitalization of $2.17 billion, a price-to-earnings ratio of 10.77, a price-to-earnings-growth ratio of 1.51 and a beta of 1.75. 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 stock has a 50 day moving average of $10.38 and a 200-day moving average of $12.74.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.05. The company had revenue of $630.00 million for the quarter, compared to the consensus estimate of $620.17 million. Park Hotels & Resorts had a net margin of 8.16% and a return on equity of 5.63%. The company's revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.52 earnings per share. As a group, research analysts predict that Park Hotels & Resorts Inc. will post 2.11 EPS for the current year.

Park Hotels & Resorts Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 9.19%. The ex-dividend date of this dividend is Monday, June 30th. Park Hotels & Resorts's payout ratio is currently 169.49%.

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.