Deutsche Bank AG Increases Position in Park Hotels & Resorts Inc. (NYSE:PK)

Deutsche Bank AG grew its position in shares of Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 809.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,415,621 shares of the financial services provider's stock after acquiring an additional 2,149,972 shares during the quarter. Deutsche Bank AG owned about 1.17% of Park Hotels & Resorts worth $33,988,000 as of its most recent filing with the SEC.

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

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Bank of America lowered shares of Park Hotels & Resorts from a "neutral" rating to an "underperform" rating and set a $11.00 price target on the stock. in a research report on Wednesday, April 30th. UBS Group cut their price target on Park Hotels & Resorts from $15.00 to $13.00 and set a "neutral" rating on the stock in a report on Monday, February 3rd. Wells Fargo & Company dropped their target price on Park Hotels & Resorts from $17.00 to $14.00 and set an "equal weight" rating on the stock in a research report on Tuesday, February 18th. Morgan Stanley lowered their target price on shares of 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. Finally, Evercore ISI cut shares of Park Hotels & Resorts from an "outperform" rating to an "in-line" rating and set a $13.00 price target for the company. in a report on Friday. 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 stock. According to data from MarketBeat.com, Park Hotels & Resorts currently has a consensus rating of "Hold" and an average price target of $14.60.

Park Hotels & Resorts Price Performance

Park Hotels & Resorts stock traded down $0.13 during trading hours on Monday, hitting $10.76. 507,387 shares of the stock were exchanged, compared to its average volume of 3,414,393. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.51 and a current ratio of 1.19. Park Hotels & Resorts Inc. has a 12 month low of $8.27 and a 12 month high of $16.42. The stock has a market capitalization of $2.15 billion, a P/E ratio of 10.64, a P/E/G ratio of 1.51 and a beta of 1.75. The business's 50-day moving average is $10.38 and its two-hundred day moving average is $12.73.

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, topping the consensus estimate of $0.41 by $0.05. Park Hotels & Resorts had a net margin of 8.16% and a return on equity of 5.63%. The company had revenue of $630.00 million during the quarter, compared to the consensus estimate of $620.17 million. During the same period in the prior year, the business earned $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 expect that Park Hotels & Resorts Inc. will post 2.11 EPS for the current fiscal year.

Park Hotels & Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.30%. Park Hotels & Resorts's dividend payout ratio is currently 169.49%.

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.