UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys 1,252,144 Shares of Park Hotels & Resorts Inc. $PK

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 15,514.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,260,215 shares of the financial services provider's stock after purchasing an additional 1,252,144 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.63% of Park Hotels & Resorts worth $17,958,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Advisors Capital Management LLC acquired a new stake in shares of Park Hotels & Resorts in the second quarter worth $19,160,000. Donald Smith & CO. Inc. raised its stake in Park Hotels & Resorts by 14.2% during the 4th quarter. Donald Smith & CO. Inc. now owns 14,617,921 shares of the financial services provider's stock valued at $152,903,000 after purchasing an additional 1,813,338 shares during the last quarter. Jupiter Topco LLC bought a new stake in Park Hotels & Resorts in the 2nd quarter valued at $4,230,000. Sivia Capital Partners LLC bought a new stake in Park Hotels & Resorts in the 2nd quarter valued at $230,000. Finally, Legal & General Group Plc grew its position in Park Hotels & Resorts by 15.9% in the 4th quarter. Legal & General Group Plc now owns 1,339,137 shares of the financial services provider's stock worth $14,007,000 after purchasing an additional 183,882 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on PK shares. Truist Financial boosted their price objective on shares of Park Hotels & Resorts from $12.00 to $13.00 and gave the stock a "hold" rating in a report on Tuesday, May 26th. Weiss Ratings upgraded Park Hotels & Resorts from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Tuesday, August 11th. BMO Capital Markets raised Park Hotels & Resorts from a "market perform" rating to an "outperform" rating and lifted their price objective for the stock from $14.00 to $18.00 in a report on Tuesday. JPMorgan Chase & Co. boosted their price objective on Park Hotels & Resorts from $13.00 to $14.00 and gave the company an "underweight" rating in a research report on Monday, August 10th. Finally, Wells Fargo & Company upgraded Park Hotels & Resorts to a "hold" rating in a research note on Thursday, July 23rd. Three equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Park Hotels & Resorts currently has an average rating of "Hold" and an average price target of $14.42.

Park Hotels & Resorts Stock Performance

Shares of NYSE:PK opened at $15.27 on Friday. The business's fifty day moving average price is $14.94 and its two-hundred day moving average price is $12.86. Park Hotels & Resorts Inc. has a fifty-two week low of $9.84 and a fifty-two week high of $16.20. The stock has a market capitalization of $3.07 billion, a price-to-earnings ratio of -18.40, a price-to-earnings-growth ratio of 1.96 and a beta of 1.33. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.53 and a quick ratio of 1.53.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $0.24 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.24. Park Hotels & Resorts had a negative return on equity of 5.23% and a negative net margin of 6.41%.The company had revenue of $680.00 million during the quarter, compared to analysts' expectations of $659.68 million. During the same period last year, the business earned $0.64 earnings per share. The business's revenue was up 1.2% on a year-over-year basis. As a group, analysts predict that Park Hotels & Resorts Inc. will post 1.83 EPS for the current fiscal year.

Park Hotels & Resorts Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 6.5%. The ex-dividend date of this dividend is Wednesday, September 30th. Park Hotels & Resorts's dividend payout ratio (DPR) is currently -120.48%.

Park Hotels & Resorts Profile

Park Hotels & Resorts Inc is a publicly traded real estate investment trust (REIT) specializing in luxury and upper-upscale hospitality properties. The company's primary business activity involves owning and leasing premier hotels and resorts across major urban and resort destinations. Through long-term management and franchise agreements with leading hotel operators, Park generates revenue from room nights, food and beverage offerings, meetings and events, and ancillary services.

Since its spin-off from Hilton Worldwide in January 2017, Park Hotels & Resorts has assembled a diversified portfolio of more than 60 properties.

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