Dimensional Fund Advisors LP Lowers Stock Position in Park Hotels & Resorts Inc. (NYSE:PK)

Dimensional Fund Advisors LP trimmed its holdings in Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 4.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,897,792 shares of the financial services provider's stock after selling 145,301 shares during the period. Dimensional Fund Advisors LP owned about 1.40% of Park Hotels & Resorts worth $40,776,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in PK. Quadrant Capital Group LLC boosted its stake in Park Hotels & Resorts by 38.4% during the 4th quarter. Quadrant Capital Group LLC now owns 4,814 shares of the financial services provider's stock valued at $68,000 after purchasing an additional 1,335 shares in the last quarter. Jones Financial Companies Lllp increased its position in Park Hotels & Resorts by 42.2% in the 4th quarter. Jones Financial Companies Lllp now owns 7,992 shares of the financial services provider's stock worth $112,000 after purchasing an additional 2,373 shares during the last quarter. CIBC Private Wealth Group LLC acquired a new stake in Park Hotels & Resorts in the fourth quarter valued at approximately $112,000. KBC Group NV lifted its stake in shares of Park Hotels & Resorts by 36.2% in the 4th quarter. KBC Group NV now owns 10,023 shares of the financial services provider's stock valued at $141,000 after purchasing an additional 2,663 shares during the last quarter. Finally, Plato Investment Management Ltd bought a new stake in shares of Park Hotels & Resorts during the 4th quarter worth about $141,000. 92.69% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Morgan Stanley cut their price target on Park Hotels & Resorts from $12.00 to $10.00 and set an "equal weight" rating for the company in a report on Tuesday, April 22nd. Truist Financial reduced their price objective on Park Hotels & Resorts from $18.00 to $16.00 and set a "buy" rating on the stock in a research note on Friday, March 21st. Bank of America cut Park Hotels & Resorts from a "neutral" rating to an "underperform" rating and set a $11.00 price target for the company. in a report on Wednesday, April 30th. UBS Group lowered their price objective on shares of Park Hotels & Resorts from $15.00 to $13.00 and set a "neutral" rating for the company in a research report on Monday, February 3rd. Finally, StockNews.com lowered shares of Park Hotels & Resorts from a "hold" rating to a "sell" rating in a research report on Thursday, April 10th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $14.60.

Park Hotels & Resorts Price Performance

Shares of Park Hotels & Resorts stock traded up $0.02 during trading hours on Friday, hitting $10.43. The company's stock had a trading volume of 1,096,011 shares, compared to its average volume of 3,353,685. The company has a market cap of $2.11 billion, a PE ratio of 10.33, a PEG ratio of 1.51 and a beta of 1.75. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.51 and a current ratio of 1.19. The business has a 50 day moving average price of $10.51 and a two-hundred day moving average price of $12.87. Park Hotels & Resorts Inc. has a 12-month low of $8.27 and a 12-month high of $16.58.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The financial services provider reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.05. The business had revenue of $630.00 million during the quarter, compared to the consensus estimate of $620.17 million. Park Hotels & Resorts had a return on equity of 5.63% and a net margin of 8.16%. The firm's revenue for the quarter was down 1.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.52 EPS. Analysts expect that Park Hotels & Resorts Inc. will post 2.11 earnings per share for the current fiscal year.

Park Hotels & Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 9.59%. The ex-dividend date of this dividend is Monday, June 30th. Park Hotels & Resorts's dividend payout ratio is presently 169.49%.

Park Hotels & Resorts Company Profile

Park Hotels & Resorts, Inc operates as a real estate investment trust, which owns and operates hotels and resorts. It operates through the Consolidated Hotels and Unconsolidated Hotels segments. Its portfolio of hotels and resorts include the Waldorf Astoria Hotels and Resorts, Conrad Hotels & Resorts, Hilton Hotels & Resorts, DoubleTree by Hilton, Embassy Suites by Hilton, Hilton Garden Inn, Hampton by Hilton, and Curio.