Park Hotels & Resorts Inc. (NYSE:PK) Shares Sold by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board lowered its holdings in shares of Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 86.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 44,000 shares of the financial services provider's stock after selling 282,000 shares during the quarter. Canada Pension Plan Investment Board's holdings in Park Hotels & Resorts were worth $619,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC increased its stake in shares of Park Hotels & Resorts by 38.4% in the 4th quarter. Quadrant Capital Group LLC now owns 4,814 shares of the financial services provider's stock worth $68,000 after acquiring an additional 1,335 shares during the last quarter. Jones Financial Companies Lllp raised its position in shares of Park Hotels & Resorts by 42.2% during the 4th quarter. Jones Financial Companies Lllp now owns 7,992 shares of the financial services provider's stock valued at $112,000 after buying an additional 2,373 shares during the period. CIBC Private Wealth Group LLC purchased a new position in Park Hotels & Resorts in the fourth quarter worth approximately $112,000. KBC Group NV raised its position 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 period. Finally, Plato Investment Management Ltd purchased a new position in shares of Park Hotels & Resorts during the 4th quarter worth $141,000. Institutional investors and hedge funds own 92.69% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on PK shares. Truist Financial dropped their target price on shares of Park Hotels & Resorts from $18.00 to $16.00 and set a "buy" rating for the company in a report 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 for the company in a research report on Monday. Jefferies Financial Group cut Park Hotels & Resorts from a "buy" rating to a "hold" rating and reduced their price objective for the company from $19.00 to $10.00 in a research note on Wednesday, April 9th. StockNews.com downgraded Park Hotels & Resorts from a "hold" rating to a "sell" rating in a report on Thursday, April 10th. Finally, Bank of America cut shares of Park Hotels & Resorts from a "neutral" rating to an "underperform" rating and set a $11.00 target price on the stock. in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $14.60.

Park Hotels & Resorts Trading Up 0.5 %

Shares of NYSE:PK traded up $0.05 during midday trading on Wednesday, reaching $9.95. The company's stock had a trading volume of 5,856,468 shares, compared to its average volume of 3,311,118. The company has a quick ratio of 1.51, a current ratio of 1.19 and a debt-to-equity ratio of 1.27. The firm has a market cap of $2.01 billion, a price-to-earnings ratio of 9.85, a price-to-earnings-growth ratio of 1.51 and a beta of 1.73. The business has a 50 day moving average price of $10.77 and a 200 day moving average price of $13.04. Park Hotels & Resorts Inc. has a 1 year low of $8.27 and a 1 year high of $16.65.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last issued its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $0.39 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.01). The company had revenue of $625.00 million for the quarter, compared to analyst estimates of $609.05 million. Park Hotels & Resorts had a return on equity of 5.63% and a net margin of 8.16%. Research analysts forecast that Park Hotels & Resorts Inc. will post 2.11 EPS for the current year.

Park Hotels & Resorts Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 10.05%. The ex-dividend date of this dividend was Monday, March 31st. Park Hotels & Resorts's payout ratio is currently 99.01%.

Park Hotels & Resorts 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.