Park Hotels & Resorts Inc. (NYSE:PK) Shares Acquired by Nuveen Asset Management LLC

Nuveen Asset Management LLC boosted its holdings in Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 17.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 758,848 shares of the financial services provider's stock after purchasing an additional 114,989 shares during the quarter. Nuveen Asset Management LLC owned approximately 0.37% of Park Hotels & Resorts worth $10,677,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of PK. Barclays PLC raised its holdings in shares of Park Hotels & Resorts by 22.4% during the 3rd quarter. Barclays PLC now owns 319,593 shares of the financial services provider's stock worth $4,507,000 after acquiring an additional 58,432 shares in the last quarter. KBC Group NV raised its holdings in shares of 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 worth $141,000 after acquiring an additional 2,663 shares in the last quarter. Cascade Investment Advisors Inc. raised its holdings in shares of Park Hotels & Resorts by 1.3% during the 4th quarter. Cascade Investment Advisors Inc. now owns 73,487 shares of the financial services provider's stock worth $1,034,000 after acquiring an additional 915 shares in the last quarter. Northeast Financial Group Inc. raised its holdings in shares of Park Hotels & Resorts by 34.4% during the 4th quarter. Northeast Financial Group Inc. now owns 124,674 shares of the financial services provider's stock worth $1,754,000 after acquiring an additional 31,928 shares in the last quarter. Finally, EMC Capital Management raised its holdings in shares of Park Hotels & Resorts by 77.2% during the 4th quarter. EMC Capital Management now owns 20,068 shares of the financial services provider's stock worth $282,000 after acquiring an additional 8,742 shares in the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on PK shares. Wells Fargo & Company decreased their price target on Park Hotels & Resorts from $17.00 to $14.00 and set an "equal weight" rating on the stock in a report on Tuesday, February 18th. Citigroup restated a "buy" rating on shares of Park Hotels & Resorts in a report on Thursday, May 22nd. Truist Financial lowered Park Hotels & Resorts from a "buy" rating to a "hold" rating and decreased their price target for the company from $16.00 to $11.00 in a report on Friday. UBS Group decreased 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. Finally, Wall Street Zen lowered Park Hotels & Resorts from a "hold" rating to a "sell" rating in a research note on Thursday, April 10th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $12.75.

Park Hotels & Resorts Stock Down 1.2%

Shares of PK traded down $0.13 during midday trading on Friday, reaching $10.36. 4,995,870 shares of the stock were exchanged, compared to its average volume of 3,494,044. Park Hotels & Resorts Inc. has a 52 week low of $8.27 and a 52 week high of $16.23. The company has a current ratio of 1.19, a quick ratio of 1.51 and a debt-to-equity ratio of 1.27. The company's 50 day moving average is $10.18 and its two-hundred day moving average is $12.43. The company has a market capitalization of $2.07 billion, a P/E ratio of 10.26, a PEG ratio of 1.51 and a beta of 1.75.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last issued its quarterly earnings data 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. Park Hotels & Resorts had a return on equity of 5.63% and a net margin of 8.16%. The company had revenue of $630.00 million for the quarter, compared to the consensus estimate of $620.17 million. During the same quarter last year, the company earned $0.52 earnings per share. The firm's revenue for the quarter was down 1.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Park Hotels & Resorts Inc. will post 2.11 earnings per share for the current year.

Park Hotels & Resorts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 9.65%. The ex-dividend date of this dividend is Monday, June 30th. Park Hotels & Resorts's payout ratio 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.