National Bank of Canada FI Has $1.24 Million Stock Holdings in Park Hotels & Resorts Inc. (NYSE:PK)

National Bank of Canada FI lowered its holdings in Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 85.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 80,300 shares of the financial services provider's stock after selling 475,947 shares during the period. National Bank of Canada FI's holdings in Park Hotels & Resorts were worth $1,242,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. FNY Investment Advisers LLC purchased a new position in shares of Park Hotels & Resorts in the 4th quarter worth $42,000. Spire Wealth Management increased 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 purchasing an additional 860 shares in the last quarter. Covestor Ltd raised its holdings in Park Hotels & Resorts by 31.5% in the third quarter. Covestor Ltd now owns 5,596 shares of the financial services provider's stock valued at $69,000 after buying an additional 1,340 shares during the period. Signaturefd LLC raised its holdings in Park Hotels & Resorts by 12.7% in the fourth quarter. Signaturefd LLC now owns 6,437 shares of the financial services provider's stock valued at $98,000 after buying an additional 727 shares during the period. Finally, L2 Asset Management LLC acquired a new position in Park Hotels & Resorts during the third quarter valued at approximately $130,000. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Park Hotels & Resorts Stock Up 0.1 %

PK stock traded up $0.01 during mid-day trading on Wednesday, hitting $16.13. 2,237,624 shares of the company were exchanged, compared to its average volume of 2,792,000. The firm has a fifty day simple moving average of $16.84 and a 200 day simple moving average of $15.82. The company has a market capitalization of $3.40 billion, a PE ratio of 36.66, a price-to-earnings-growth ratio of 0.78 and a beta of 2.03. Park Hotels & Resorts Inc. has a twelve month low of $11.05 and a twelve month high of $18.05. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 1.20.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last posted its quarterly earnings results on Tuesday, February 27th. The financial services provider reported $0.88 EPS for the quarter, topping analysts' consensus estimates of $0.49 by $0.39. The business had revenue of $657.00 million during the quarter, compared to the consensus estimate of $665.16 million. Park Hotels & Resorts had a return on equity of 3.08% and a net margin of 3.42%. On average, research analysts forecast that Park Hotels & Resorts Inc. will post 2.08 earnings per share for the current fiscal year.

Park Hotels & Resorts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 6.20%. The ex-dividend date is Friday, June 28th. Park Hotels & Resorts's dividend payout ratio (DPR) is presently 227.28%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on PK shares. Barclays raised their target price on shares of Park Hotels & Resorts from $19.00 to $21.00 and gave the company an "overweight" rating in a research note on Friday, March 1st. UBS Group upped their target price on Park Hotels & Resorts from $14.00 to $18.00 and gave the stock a "neutral" rating in a research report on Wednesday, March 6th. StockNews.com upgraded Park Hotels & Resorts from a "sell" rating to a "hold" rating in a report on Wednesday, May 1st. Wells Fargo & Company upped their price target on Park Hotels & Resorts from $17.00 to $18.00 and gave the stock an "equal weight" rating in a report on Thursday, March 21st. Finally, Citigroup upgraded shares of Park Hotels & Resorts from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $14.00 to $20.00 in a research note on Friday, March 22nd. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $17.50.

About Park Hotels & Resorts

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.