Deutsche Bank AG Has $33.99 Million Position in Park Hotels & Resorts Inc. (NYSE:PK)

Deutsche Bank AG lifted its stake in Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 809.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,415,621 shares of the financial services provider's stock after acquiring an additional 2,149,972 shares during the period. Deutsche Bank AG owned approximately 1.17% of Park Hotels & Resorts worth $33,988,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Quarry LP bought a new position in Park Hotels & Resorts in the fourth quarter worth $35,000. Quadrant Capital Group LLC lifted its position in 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 worth $68,000 after purchasing an additional 1,335 shares during the period. Jones Financial Companies Lllp lifted its position in Park Hotels & Resorts by 42.2% in the fourth 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 position in Park Hotels & Resorts in the fourth quarter worth $112,000. Finally, KBC Group NV lifted 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 worth $141,000 after purchasing an additional 2,663 shares during the period. Institutional investors and hedge funds own 92.69% of the company's stock.

Analyst Ratings Changes

Several brokerages recently commented on PK. Truist Financial reduced their target price on 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. StockNews.com cut Park Hotels & Resorts from a "hold" rating to a "sell" rating in a research report on Thursday, April 10th. Jefferies Financial Group cut Park Hotels & Resorts from a "buy" rating to a "hold" rating and cut their price objective for the company from $19.00 to $10.00 in a report on Wednesday, April 9th. UBS Group cut their price objective on Park Hotels & Resorts from $15.00 to $13.00 and set a "neutral" rating for the company in a report on Monday, February 3rd. Finally, Bank of America cut Park Hotels & Resorts from a "neutral" rating to an "underperform" rating and set a $11.00 price objective for the company. in a report on Wednesday, April 30th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Park Hotels & Resorts currently has an average rating of "Hold" and a consensus price target of $14.60.

Park Hotels & Resorts Price Performance

Shares of NYSE:PK traded up $0.05 during midday trading on Friday, reaching $10.88. The company's stock had a trading volume of 3,553,985 shares, compared to its average volume of 3,418,134. Park Hotels & Resorts Inc. has a fifty-two week low of $8.27 and a fifty-two week high of $16.58. The company has a market capitalization of $2.17 billion, a P/E ratio of 10.77, a P/E/G 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 business's fifty day simple moving average is $10.38 and its 200-day simple moving average is $12.75.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last announced its earnings results on Monday, May 5th. The financial services provider reported $0.46 earnings per share for the quarter, beating analysts' consensus estimates of $0.41 by $0.05. The company had revenue of $630.00 million during the quarter, compared to analyst estimates of $620.17 million. Park Hotels & Resorts had a return on equity of 5.63% and a net margin of 8.16%. The firm's quarterly revenue was down 1.4% compared to the same quarter last year. During the same period last year, the company posted $0.52 earnings per share. As a group, 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 disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, June 30th. This represents a $1.00 annualized dividend and a yield of 9.19%. Park Hotels & Resorts's dividend 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.