Park Hotels & Resorts Inc. (NYSE:PK) Position Lessened by Matthew 25 Management Corp

Matthew 25 Management Corp decreased its position in shares of Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 7.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 975,000 shares of the financial services provider's stock after selling 75,000 shares during the quarter. Park Hotels & Resorts makes up 5.2% of Matthew 25 Management Corp's investment portfolio, making the stock its 6th largest position. Matthew 25 Management Corp owned approximately 0.46% of Park Hotels & Resorts worth $14,918,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. FNY Investment Advisers LLC purchased a new stake in shares of Park Hotels & Resorts in the 4th quarter valued at about $42,000. Spire Wealth Management grew its position in Park Hotels & Resorts by 20.1% during the 3rd quarter. Spire Wealth Management now owns 5,145 shares of the financial services provider's stock worth $63,000 after acquiring an additional 860 shares during the last quarter. Covestor Ltd grew its position in Park Hotels & Resorts by 31.5% during the 3rd quarter. Covestor Ltd now owns 5,596 shares of the financial services provider's stock worth $69,000 after acquiring an additional 1,340 shares during the last quarter. Steward Partners Investment Advisory LLC grew its position in Park Hotels & Resorts by 353.7% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 7,055 shares of the financial services provider's stock worth $83,000 after acquiring an additional 5,500 shares during the last quarter. Finally, Signaturefd LLC grew its position in Park Hotels & Resorts by 12.7% during the 4th quarter. Signaturefd LLC now owns 6,437 shares of the financial services provider's stock worth $98,000 after acquiring an additional 727 shares during the last quarter. Institutional investors own 92.69% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on PK shares. Citigroup upgraded Park Hotels & Resorts from a "neutral" rating to a "buy" rating and raised their price target for the stock from $14.00 to $20.00 in a research report on Friday, March 22nd. Truist Financial lifted their price objective on Park Hotels & Resorts from $20.00 to $21.00 and gave the stock a "buy" rating in a research report on Thursday, March 14th. Wells Fargo & Company boosted their target price on Park Hotels & Resorts from $17.00 to $18.00 and gave the company an "equal weight" rating in a research note on Thursday, March 21st. Jefferies Financial Group raised 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. Finally, StockNews.com cut Park Hotels & Resorts from a "hold" rating to a "sell" rating in a research note on Saturday, April 13th. One analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $17.58.

Park Hotels & Resorts Stock Up 0.1 %

Park Hotels & Resorts stock traded up $0.02 during mid-day trading on Friday, hitting $16.15. The company had a trading volume of 1,825,500 shares, compared to its average volume of 2,033,463. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 1.19. The stock's 50 day moving average price is $16.76 and its two-hundred day moving average price is $15.29. Park Hotels & Resorts Inc. has a 12 month low of $11.05 and a 12 month high of $18.05. The company has a market capitalization of $3.40 billion, a PE ratio of 35.11, a price-to-earnings-growth ratio of 0.61 and a beta of 2.03.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last released its earnings results on Tuesday, February 27th. The financial services provider reported $0.88 EPS for the quarter, topping the consensus estimate of $0.49 by $0.39. Park Hotels & Resorts had a return on equity of 2.44% and a net margin of 3.60%. The business had revenue of $657.00 million for the quarter, compared to the consensus estimate of $665.16 million. As a group, sell-side analysts anticipate that Park Hotels & Resorts Inc. will post 2.06 earnings per share for the current fiscal year.

Park Hotels & Resorts Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were issued a dividend of $0.25 per share. This is an increase from Park Hotels & Resorts's previous quarterly dividend of $0.15. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.19%. The ex-dividend date of this dividend was Wednesday, March 27th. Park Hotels & Resorts's dividend payout ratio is presently 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.