AQR Capital Management LLC Trims Position in Park Hotels & Resorts Inc. (NYSE:PK)

AQR Capital Management LLC trimmed its stake in shares of Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 50.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,309,809 shares of the financial services provider's stock after selling 2,354,610 shares during the period. AQR Capital Management LLC owned 1.12% of Park Hotels & Resorts worth $32,499,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quarry LP bought a new stake in Park Hotels & Resorts during the fourth quarter worth approximately $35,000. Quadrant Capital Group LLC raised its holdings in shares of Park Hotels & Resorts by 38.4% in the fourth quarter. Quadrant Capital Group LLC now owns 4,814 shares of the financial services provider's stock valued at $68,000 after acquiring an additional 1,335 shares in the last quarter. Jones Financial Companies Lllp lifted its position in shares of Park Hotels & Resorts by 42.2% in the 4th quarter. Jones Financial Companies Lllp now owns 7,992 shares of the financial services provider's stock worth $112,000 after purchasing an additional 2,373 shares during the period. CIBC Private Wealth Group LLC bought a new stake in Park Hotels & Resorts during the 4th quarter valued at $112,000. Finally, KBC Group NV grew its stake in Park Hotels & Resorts by 36.2% in the fourth quarter. KBC Group NV now owns 10,023 shares of the financial services provider's stock valued at $141,000 after purchasing an additional 2,663 shares during the last quarter. 92.69% of the stock is owned by institutional investors.

Park Hotels & Resorts Stock Performance

Shares of NYSE PK traded up $0.08 during trading hours on Wednesday, reaching $10.00. The stock had a trading volume of 4,084,056 shares, compared to its average volume of 3,352,576. The firm has a market cap of $2.02 billion, a price-to-earnings ratio of 9.90, a PEG ratio of 1.51 and a beta of 1.75. Park Hotels & Resorts Inc. has a fifty-two week low of $8.27 and a fifty-two week high of $16.58. The firm has a 50-day moving average of $10.59 and a 200-day moving average of $12.91. The company has a current ratio of 1.19, a quick ratio of 1.51 and a debt-to-equity ratio of 1.27.

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

Park Hotels & Resorts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 10.00%. The ex-dividend date of this dividend is Monday, June 30th. Park Hotels & Resorts's dividend payout ratio (DPR) is presently 99.01%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PK. Morgan Stanley dropped their target price on Park Hotels & Resorts from $12.00 to $10.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 22nd. Wells Fargo & Company dropped their price objective on Park Hotels & Resorts from $17.00 to $14.00 and set an "equal weight" rating on the stock in a report on Tuesday, February 18th. Truist Financial decreased their price target on shares of Park Hotels & Resorts from $18.00 to $16.00 and set a "buy" rating on the stock in a research note on Friday, March 21st. Evercore ISI decreased their price target on shares of Park Hotels & Resorts from $16.00 to $13.00 and set an "outperform" rating on the stock in a research note on Monday, April 28th. Finally, Bank of America downgraded Park Hotels & Resorts from a "neutral" rating to an "underperform" rating and set a $11.00 target price for the company. in a research note on Wednesday, April 30th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $14.60.

Park Hotels & Resorts Company Profile

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.