96,007 Shares in Park Hotels & Resorts Inc. (NYSE:PK) Purchased by GraniteShares Advisors LLC

GraniteShares Advisors LLC bought a new position in Park Hotels & Resorts Inc. (NYSE:PK - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 96,007 shares of the financial services provider's stock, valued at approximately $1,469,000.

Other large investors also recently modified their holdings of the company. Goldman Sachs Group Inc. lifted its holdings in shares of Park Hotels & Resorts by 54.6% during the second quarter. Goldman Sachs Group Inc. now owns 11,358,377 shares of the financial services provider's stock valued at $145,614,000 after purchasing an additional 4,010,239 shares during the last quarter. Norges Bank purchased a new position in shares of Park Hotels & Resorts during the fourth quarter valued at approximately $22,324,000. Millennium Management LLC purchased a new position in shares of Park Hotels & Resorts during the second quarter valued at approximately $24,904,000. JPMorgan Chase & Co. lifted its holdings in shares of Park Hotels & Resorts by 107.7% during the first quarter. JPMorgan Chase & Co. now owns 3,517,709 shares of the financial services provider's stock valued at $43,479,000 after purchasing an additional 1,824,085 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in Park Hotels & Resorts by 680.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,722,456 shares of the financial services provider's stock worth $21,290,000 after acquiring an additional 1,501,678 shares during the last quarter. 92.69% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on PK shares. StockNews.com lowered shares of Park Hotels & Resorts from a "hold" rating to a "sell" rating in a research note on Saturday. Truist Financial boosted their target price on shares of Park Hotels & Resorts from $20.00 to $21.00 and gave the company a "buy" rating in a research note on Thursday, March 14th. Jefferies Financial Group upgraded shares of Park Hotels & Resorts from a "hold" rating to a "buy" rating and boosted their target price for the company from $14.00 to $21.00 in a research note on Tuesday, January 2nd. UBS Group boosted their target price on shares of Park Hotels & Resorts from $14.00 to $18.00 and gave the company a "neutral" rating in a research note on Wednesday, March 6th. Finally, Citigroup upgraded shares of Park Hotels & Resorts from a "neutral" rating to a "buy" rating and boosted their target price for the company from $14.00 to $20.00 in a research note on Friday, March 22nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $17.58.

Park Hotels & Resorts Trading Down 1.8 %

Park Hotels & Resorts stock traded down $0.30 during midday trading on Tuesday, reaching $16.49. The stock had a trading volume of 2,059,162 shares, compared to its average volume of 2,835,814. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 1.19. The firm has a market cap of $3.47 billion, a price-to-earnings ratio of 36.48, a price-to-earnings-growth ratio of 0.66 and a beta of 2.03. The company has a fifty day moving average of $16.68 and a 200 day moving average of $15.18. Park Hotels & Resorts Inc. has a 52-week low of $11.05 and a 52-week high of $18.05.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last released its quarterly earnings data on Tuesday, February 27th. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.49 by $0.39. Park Hotels & Resorts had a net margin of 3.60% and a return on equity of 2.44%. The firm had revenue of $657.00 million for the quarter, compared to the consensus estimate of $665.16 million. On average, analysts anticipate that Park Hotels & Resorts Inc. will post 2 earnings per share for the current fiscal year.

Park Hotels & Resorts Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 6.06%. The ex-dividend date of this dividend was Wednesday, March 27th. This is a boost from Park Hotels & Resorts's previous quarterly dividend of $0.15. Park Hotels & Resorts's dividend payout ratio (DPR) is 217.39%.

Park Hotels & Resorts Profile

Park is one of the largest publicly traded lodging REITs with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value. Park's portfolio currently consists of 43 premium-branded hotels and resorts with over 26,000 rooms primarily located in prime city center and resort locations.

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