Park Hotels & Resorts Inc. (NYSE:PK) Shares Sold by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board lessened its stake in shares of Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 37.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 311,103 shares of the financial services provider's stock after selling 186,064 shares during the period. Ontario Teachers Pension Plan Board owned about 0.15% of Park Hotels & Resorts worth $4,760,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Franklin Resources Inc. raised its position in Park Hotels & Resorts by 443.8% during the 4th quarter. Franklin Resources Inc. now owns 114,357 shares of the financial services provider's stock valued at $1,750,000 after purchasing an additional 93,329 shares in the last quarter. Renaissance Group LLC bought a new stake in shares of Park Hotels & Resorts in the fourth quarter valued at about $252,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Park Hotels & Resorts in the fourth quarter valued at about $602,000. Norges Bank purchased a new stake in Park Hotels & Resorts in the fourth quarter worth about $31,745,000. Finally, Nicola Wealth Management LTD. bought a new position in Park Hotels & Resorts during the 4th quarter worth about $490,000. Hedge funds and other institutional investors own 92.69% of the company's stock.

Park Hotels & Resorts Stock Down 0.7 %

Shares of PK traded down $0.11 during mid-day trading on Wednesday, hitting $16.12. 1,178,346 shares of the company traded hands, compared to its average volume of 2,730,714. The company has a market capitalization of $3.39 billion, a PE ratio of 36.64, a price-to-earnings-growth ratio of 0.80 and a beta of 2.03. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 1.20. The business has a 50 day moving average of $16.75 and a 200 day moving average of $15.96. Park Hotels & Resorts Inc. has a 1-year low of $11.05 and a 1-year high of $18.05.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last released its earnings results on Tuesday, April 30th. The financial services provider reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.17). The company had revenue of $639.00 million for the quarter, compared to analysts' expectations of $630.46 million. Park Hotels & Resorts had a return on equity of 3.08% and a net margin of 3.42%. Equities research analysts anticipate that Park Hotels & Resorts Inc. will post 2.08 EPS for the current year.

Park Hotels & Resorts Announces Dividend

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

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Wells Fargo & Company upped their price target on shares of Park Hotels & Resorts from $17.00 to $18.00 and gave the stock an "equal weight" rating in a research report on Thursday, March 21st. StockNews.com upgraded Park Hotels & Resorts from a "sell" rating to a "hold" rating in a report on Wednesday, May 1st. Evercore ISI raised Park Hotels & Resorts from an "in-line" rating to an "outperform" rating and boosted their price target for the stock from $19.00 to $20.00 in a research report on Wednesday, May 15th. Citigroup raised Park Hotels & Resorts from a "neutral" rating to a "buy" rating and raised their price objective for the company from $14.00 to $20.00 in a research report on Friday, March 22nd. Finally, Truist Financial boosted their target price on shares of Park Hotels & Resorts from $20.00 to $21.00 and gave the stock a "buy" rating in a report on Thursday, March 14th. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average 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.