Public Employees Retirement System of Ohio Sells 25,941 Shares of Park Hotels & Resorts Inc. (NYSE:PK)

Public Employees Retirement System of Ohio trimmed its position in Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 6.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 362,153 shares of the financial services provider's stock after selling 25,941 shares during the period. Public Employees Retirement System of Ohio owned approximately 0.18% of Park Hotels & Resorts worth $5,095,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. Quarry LP acquired a new position in shares of Park Hotels & Resorts during the 4th quarter worth about $35,000. Quadrant Capital Group LLC raised its stake in Park Hotels & Resorts by 38.4% in the 4th 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 in the last quarter. Jones Financial Companies Lllp grew its position in Park Hotels & Resorts by 42.2% during the fourth quarter. Jones Financial Companies Lllp now owns 7,992 shares of the financial services provider's stock worth $112,000 after buying an additional 2,373 shares in the last quarter. CIBC Private Wealth Group LLC acquired a new stake in shares of Park Hotels & Resorts during the 4th quarter worth $112,000. Finally, KBC Group NV increased its position in shares of 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.

Park Hotels & Resorts Stock Down 2.2%

Shares of Park Hotels & Resorts stock traded down $0.23 during trading hours on Monday, reaching $10.14. The company's stock had a trading volume of 4,295,750 shares, compared to its average volume of 3,497,262. Park Hotels & Resorts Inc. has a one year low of $8.27 and a one year high of $16.23. The company has a market capitalization of $2.03 billion, a P/E ratio of 10.03, 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 quick ratio of 1.51 and a current ratio of 1.19. The stock's fifty day simple moving average is $10.15 and its two-hundred day simple moving average is $12.40.

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 the consensus estimate 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 business had revenue of $630.00 million for the quarter, compared to analysts' expectations of $620.17 million. During the same period last year, the business earned $0.52 EPS. The business's revenue was down 1.4% on a year-over-year basis. On average, research analysts forecast 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 disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a $0.25 dividend. The ex-dividend date is Monday, June 30th. This represents a $1.00 annualized dividend and a yield of 9.87%. Park Hotels & Resorts's dividend payout ratio is currently 169.49%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Jefferies Financial Group downgraded Park Hotels & Resorts from a "buy" rating to a "hold" rating and reduced their target price for the company from $19.00 to $10.00 in a report on Wednesday, April 9th. Citigroup restated a "buy" rating on shares of Park Hotels & Resorts in a research report on Thursday, May 22nd. UBS Group reduced their target price on shares of Park Hotels & Resorts from $15.00 to $13.00 and set a "neutral" rating on the stock in a report on Monday, February 3rd. Morgan Stanley decreased their price target on Park Hotels & Resorts from $12.00 to $10.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 22nd. Finally, Truist Financial downgraded shares of Park Hotels & Resorts from a "buy" rating to a "hold" rating and lowered their target price for the stock from $16.00 to $11.00 in a research note on Friday. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $12.75.

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.