Carrera Capital Advisors Purchases New Shares in Park Hotels & Resorts Inc. (NYSE:PK)

Carrera Capital Advisors acquired a new stake in shares of Park Hotels & Resorts Inc. (NYSE:PK) during the 4th quarter, HoldingsChannel reports. The firm acquired 83,197 shares of the financial services provider’s stock, valued at approximately $1,225,000.

A number of other hedge funds have also recently bought and sold shares of PK. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Park Hotels & Resorts by 321.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,409,574 shares of the financial services provider’s stock valued at $19,875,000 after purchasing an additional 1,075,255 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in Park Hotels & Resorts by 345.9% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,035,082 shares of the financial services provider’s stock valued at $14,595,000 after buying an additional 802,939 shares during the last quarter. Foundry Partners LLC bought a new position in shares of Park Hotels & Resorts during the 3rd quarter worth approximately $9,238,000. JPMorgan Chase & Co. boosted its stake in shares of Park Hotels & Resorts by 18.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,488,097 shares of the financial services provider’s stock worth $49,182,000 after buying an additional 540,920 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Park Hotels & Resorts by 26.9% in the fourth quarter. Bank of New York Mellon Corp now owns 2,443,752 shares of the financial services provider’s stock valued at $34,384,000 after acquiring an additional 518,727 shares in the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

Park Hotels & Resorts Stock Performance

NYSE PK opened at $11.77 on Wednesday. The company’s 50 day moving average is $13.39 and its 200-day moving average is $14.22. Park Hotels & Resorts Inc. has a 12-month low of $11.51 and a 12-month high of $18.05. The company has a quick ratio of 1.51, a current ratio of 1.19 and a debt-to-equity ratio of 1.27. The firm has a market cap of $2.38 billion, a P/E ratio of 11.65, a price-to-earnings-growth ratio of 1.51 and a beta of 2.00.

Park Hotels & Resorts (NYSE:PK) last released its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.01). The business had revenue of $625.00 million during the quarter, compared to analysts’ expectations of $609.05 million. Park Hotels & Resorts had a net margin of 8.16% and a return on equity of 5.63%. Sell-side analysts predict that Park Hotels & Resorts Inc. will post 2.11 earnings per share for the current year.

Park Hotels & Resorts Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, March 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.50%. Park Hotels & Resorts’s payout ratio is 99.01%.

Analyst Ratings Changes

PK has been the topic of a number of recent analyst reports. Jefferies Financial Group dropped their price target on Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. Wells Fargo & Company lowered their target price on Park Hotels & Resorts from $17.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 18th. UBS Group reduced their price target 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 downgraded shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a report on Friday, February 21st. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Park Hotels & Resorts currently has an average rating of “Hold” and a consensus price target of $18.15.

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.