Allianz Asset Management GmbH Has $33.65 Million Stake in Park Hotels & Resorts Inc. (NYSE:PK)

Allianz Asset Management GmbH trimmed its stake in Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 12.1% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 3,150,976 shares of the financial services provider's stock after selling 432,967 shares during the period. Allianz Asset Management GmbH owned about 1.56% of Park Hotels & Resorts worth $33,652,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in the business. UMB Bank n.a. grew its position in shares of Park Hotels & Resorts by 140.9% in the first quarter. UMB Bank n.a. now owns 2,385 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 1,395 shares during the last quarter. Quarry LP bought a new stake in Park Hotels & Resorts in the 4th quarter valued at about $35,000. Versant Capital Management Inc lifted its position in Park Hotels & Resorts by 11,039.1% in the first quarter. Versant Capital Management Inc now owns 2,562 shares of the financial services provider's stock worth $27,000 after purchasing an additional 2,539 shares during the period. GF Fund Management CO. LTD. acquired a new position in shares of Park Hotels & Resorts in the 4th quarter valued at $53,000. Finally, Quadrant Capital Group LLC grew its position in Park Hotels & Resorts by 38.4% during the fourth quarter. Quadrant Capital Group LLC now owns 4,814 shares of the financial services provider's stock valued at $68,000 after purchasing an additional 1,335 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company's stock.

Wall Street Analyst Weigh In

PK has been the subject of a number of research analyst reports. Jefferies Financial Group lowered shares of 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 research report on Wednesday, April 9th. Truist Financial lowered shares of Park Hotels & Resorts from a "buy" rating to a "hold" rating and dropped their price objective for the company from $16.00 to $11.00 in a research report on Friday, May 30th. Wall Street Zen downgraded shares of Park Hotels & Resorts from a "hold" rating to a "sell" rating in a research note on Friday, July 18th. Citigroup reissued a "buy" rating on shares of Park Hotels & Resorts in a research note on Thursday, May 22nd. Finally, Evercore ISI lowered shares of Park Hotels & Resorts from an "outperform" rating to an "in-line" rating and set a $13.00 target price for the company. in a research note on Friday, May 16th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $12.11.

Park Hotels & Resorts Stock Down 2.4%

Park Hotels & Resorts stock traded down $0.28 during midday trading on Thursday, reaching $11.10. The company's stock had a trading volume of 3,892,037 shares, compared to its average volume of 3,483,597. Park Hotels & Resorts Inc. has a fifty-two week low of $8.27 and a fifty-two week high of $16.23. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.33. The company has a market cap of $2.22 billion, a P/E ratio of 18.81, a P/E/G ratio of 1.51 and a beta of 1.72. The business has a 50-day simple moving average of $10.55 and a 200-day simple moving average of $11.30.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last issued its earnings results on Monday, May 5th. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.41 by $0.05. Park Hotels & Resorts had a return on equity of 2.65% and a net margin of 4.90%. The business 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 posted $0.52 EPS. The company's revenue for the quarter was down 1.4% on a year-over-year basis. On average, research analysts expect that Park Hotels & Resorts Inc. will post 2.11 earnings per share for the current fiscal year.

Park Hotels & Resorts Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $1.00 dividend on an annualized basis and a yield of 9.01%. Park Hotels & Resorts's dividend payout ratio (DPR) is 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.