Los Angeles Capital Management LLC Has $4.61 Million Holdings in Park Hotels & Resorts Inc. (NYSE:PK)

Los Angeles Capital Management LLC grew its position in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 1,275.6% in the 4th quarter, Holdings Channel reports. The institutional investor owned 301,118 shares of the financial services provider’s stock after acquiring an additional 279,228 shares during the period. Los Angeles Capital Management LLC’s holdings in Park Hotels & Resorts were worth $4,607,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Park Hotels & Resorts by 2.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 86,399 shares of the financial services provider’s stock valued at $1,064,000 after acquiring an additional 1,714 shares in the last quarter. Inspire Advisors LLC bought a new position in shares of Park Hotels & Resorts during the 3rd quarter valued at $153,000. Allspring Global Investments Holdings LLC boosted its holdings in Park Hotels & Resorts by 5.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 85,069 shares of the financial services provider’s stock worth $1,048,000 after purchasing an additional 4,720 shares in the last quarter. Cascade Investment Advisors Inc. boosted its holdings in Park Hotels & Resorts by 7.2% in the third quarter. Cascade Investment Advisors Inc. now owns 65,497 shares of the financial services provider’s stock worth $807,000 after purchasing an additional 4,375 shares in the last quarter. Finally, Private Management Group Inc. increased its position in Park Hotels & Resorts by 16.6% during the third quarter. Private Management Group Inc. now owns 2,212,651 shares of the financial services provider’s stock worth $27,260,000 after buying an additional 314,386 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

Wall Street Analyst Weigh In

PK has been the topic of a number of analyst reports. UBS Group increased their price objective on Park Hotels & Resorts from $14.00 to $18.00 and gave the company a “neutral” rating in a report on Wednesday, March 6th. Wells Fargo & Company boosted their price objective on shares of Park Hotels & Resorts from $17.00 to $18.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 21st. Truist Financial raised 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. StockNews.com raised shares of Park Hotels & Resorts from a “sell” rating to a “hold” rating in a research report on Wednesday, May 1st. Finally, Barclays raised their price target on Park Hotels & Resorts from $19.00 to $21.00 and gave the company an “overweight” rating in a research report on Friday, March 1st. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $17.27.

Park Hotels & Resorts Stock Up 0.9 %

NYSE PK opened at $16.09 on Monday. Park Hotels & Resorts Inc. has a twelve month low of $11.05 and a twelve month high of $18.05. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.48 and a current ratio of 1.48. The stock has a market cap of $3.39 billion, a PE ratio of 36.57, a PEG ratio of 0.83 and a beta of 2.03. The firm has a 50-day simple moving average of $16.97 and a 200 day simple moving average of $15.60.

Park Hotels & Resorts (NYSE:PK) last posted its quarterly earnings results on Tuesday, February 27th. The financial services provider reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.39. Park Hotels & Resorts had a net margin of 3.42% and a return on equity of 3.08%. The firm had revenue of $657.00 million for the quarter, compared to the consensus estimate of $665.16 million. On average, research analysts forecast that Park Hotels & Resorts Inc. will post 2.06 EPS for the current year.

Park Hotels & Resorts Dividend Announcement

The business also recently declared 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. This represents a $1.00 annualized dividend and a yield of 6.22%. The ex-dividend date of this dividend is Friday, June 28th. Park Hotels & Resorts’s dividend payout ratio is 227.28%.

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.