Nisa Investment Advisors LLC Purchases 34,110 Shares of Park Hotels & Resorts Inc. (NYSE:PK)

Nisa Investment Advisors LLC increased its position in Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 28.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 153,606 shares of the financial services provider's stock after purchasing an additional 34,110 shares during the quarter. Nisa Investment Advisors LLC owned approximately 0.08% of Park Hotels & Resorts worth $1,682,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PK. Coldstream Capital Management Inc. boosted its position in shares of Park Hotels & Resorts by 7.3% during the fourth quarter. Coldstream Capital Management Inc. now owns 11,931 shares of the financial services provider's stock worth $168,000 after buying an additional 813 shares during the period. Xponance Inc. lifted its position in Park Hotels & Resorts by 3.8% during the fourth quarter. Xponance Inc. now owns 24,650 shares of the financial services provider's stock worth $347,000 after acquiring an additional 892 shares during the last quarter. IFM Investors Pty Ltd increased its position in Park Hotels & Resorts by 2.2% during the 1st quarter. IFM Investors Pty Ltd now owns 48,266 shares of the financial services provider's stock worth $515,000 after buying an additional 1,043 shares during the period. Nissay Asset Management Corp Japan ADV grew its position in shares of Park Hotels & Resorts by 3.6% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 32,929 shares of the financial services provider's stock worth $491,000 after purchasing an additional 1,139 shares in the last quarter. Finally, Tidal Investments LLC increased its stake in Park Hotels & Resorts by 6.3% during the 4th quarter. Tidal Investments LLC now owns 20,754 shares of the financial services provider's stock worth $292,000 after acquiring an additional 1,232 shares during the period. Institutional investors own 92.69% of the company's stock.

Park Hotels & Resorts Stock Performance

NYSE:PK traded down $0.07 during trading hours on Thursday, reaching $10.79. The company had a trading volume of 3,322,117 shares, compared to its average volume of 3,643,898. The firm has a market cap of $2.16 billion, a price-to-earnings ratio of 18.29, a PEG ratio of 1.44 and a beta of 1.72. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.33. The firm's 50 day moving average price is $10.54 and its 200-day moving average price is $11.41. Park Hotels & Resorts Inc. has a 52 week low of $8.27 and a 52 week high of $16.23.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last released its earnings results on Monday, May 5th. The financial services provider reported $0.46 EPS for the quarter, topping analysts' consensus estimates of $0.41 by $0.05. The company had revenue of $630.00 million for the quarter, compared to analysts' expectations of $620.17 million. Park Hotels & Resorts had a net margin of 4.90% and a return on equity of 2.65%. The firm's revenue was down 1.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.52 EPS. On average, analysts forecast that Park Hotels & Resorts Inc. will post 2.11 EPS for the current year.

Park Hotels & Resorts Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $1.00 annualized dividend and a dividend yield of 9.27%. Park Hotels & Resorts's dividend payout ratio (DPR) is presently 169.49%.

Analysts Set New Price Targets

PK has been the topic of a number of research analyst reports. Wells Fargo & Company raised their price target on shares of Park Hotels & Resorts from $10.00 to $11.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 1st. Citigroup reiterated a "buy" rating on shares of Park Hotels & Resorts in a research report on Thursday, May 22nd. Morgan Stanley reiterated an "outperform" rating on shares of Park Hotels & Resorts in a research report on Tuesday. Truist Financial cut Park Hotels & Resorts from a "buy" rating to a "hold" rating and reduced their price objective for the company from $16.00 to $11.00 in a research note on Friday, May 30th. Finally, Wall Street Zen downgraded Park Hotels & Resorts from a "hold" rating to a "sell" rating in a research note on Thursday, April 10th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Park Hotels & Resorts currently has a consensus rating of "Hold" and an average price target of $12.11.

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.