Gotham Asset Management LLC Cuts Position in Park Hotels & Resorts Inc. (NYSE:PK)

Gotham Asset Management LLC decreased its position in Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 38.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 38,806 shares of the financial services provider's stock after selling 24,180 shares during the quarter. Gotham Asset Management LLC's holdings in Park Hotels & Resorts were worth $546,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PK. Donald Smith & CO. Inc. increased its position in shares of Park Hotels & Resorts by 13.9% during the fourth quarter. Donald Smith & CO. Inc. now owns 9,200,125 shares of the financial services provider's stock worth $129,446,000 after acquiring an additional 1,122,839 shares during the period. Arrowstreet Capital Limited Partnership increased its position in shares of Park Hotels & Resorts by 18.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 6,692,233 shares of the financial services provider's stock worth $94,160,000 after acquiring an additional 1,056,188 shares during the period. Allianz Asset Management GmbH increased its position in shares of Park Hotels & Resorts by 3.6% during the fourth quarter. Allianz Asset Management GmbH now owns 3,583,943 shares of the financial services provider's stock worth $50,426,000 after acquiring an additional 125,730 shares during the period. Norges Bank purchased a new position in Park Hotels & Resorts in the fourth quarter valued at $41,087,000. Finally, Invesco Ltd. increased its holdings in Park Hotels & Resorts by 84.0% in the fourth quarter. Invesco Ltd. now owns 2,837,917 shares of the financial services provider's stock valued at $39,929,000 after buying an additional 1,295,548 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on PK. Bank of America lowered 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, April 30th. UBS Group dropped their target price 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. StockNews.com lowered Park Hotels & Resorts from a "hold" rating to a "sell" rating in a report on Thursday, April 10th. 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 report on Tuesday, April 22nd. Finally, Jefferies Financial Group lowered Park Hotels & Resorts from a "buy" rating to a "hold" rating and dropped their target price for the company from $19.00 to $10.00 in a report on Wednesday, April 9th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Park Hotels & Resorts has a consensus rating of "Hold" and a consensus price target of $14.60.

Park Hotels & Resorts Stock Performance

Shares of PK stock opened at $10.80 on Tuesday. The stock's 50-day moving average is $10.37 and its two-hundred day moving average is $12.71. The firm has a market cap of $2.16 billion, a price-to-earnings ratio of 10.69, a PEG ratio of 1.51 and a beta of 1.75. Park Hotels & Resorts Inc. has a 1 year low of $8.27 and a 1 year high of $16.42. 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 (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, 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 business had revenue of $630.00 million during the quarter, compared to the consensus estimate of $620.17 million. During the same quarter in the prior year, the firm earned $0.52 earnings per share. The business's quarterly revenue was down 1.4% compared to the same quarter last year. Analysts predict that Park Hotels & Resorts Inc. will post 2.11 earnings per share for the current year.

Park Hotels & Resorts Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Monday, June 30th. This represents a $1.00 annualized dividend and a dividend yield of 9.26%. Park Hotels & Resorts's dividend payout ratio (DPR) is 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.

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