Park Hotels & Resorts Inc. (NYSE:PK) Shares Purchased by Donald Smith & CO. Inc.

Donald Smith & CO. Inc. grew its stake in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 13.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,200,125 shares of the financial services provider’s stock after purchasing an additional 1,122,839 shares during the quarter. Park Hotels & Resorts accounts for 3.1% of Donald Smith & CO. Inc.’s investment portfolio, making the stock its 11th biggest position. Donald Smith & CO. Inc. owned 4.46% of Park Hotels & Resorts worth $129,446,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. Arrowstreet Capital Limited Partnership increased its stake in Park Hotels & Resorts by 18.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 6,692,233 shares of the financial services provider’s stock worth $94,160,000 after buying an additional 1,056,188 shares during the period. Allianz Asset Management GmbH increased its position in shares of Park Hotels & Resorts by 3.6% during the fourth quarter. Allianz Asset Management GmbH now owns 3,583,943 shares of the financial services provider’s stock worth $50,426,000 after acquiring an additional 125,730 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Park Hotels & Resorts by 18.4% in the third quarter. JPMorgan Chase & Co. now owns 3,488,097 shares of the financial services provider’s stock worth $49,182,000 after acquiring an additional 540,920 shares in the last quarter. Norges Bank purchased a new position in Park Hotels & Resorts in the fourth quarter valued at about $41,087,000. Finally, Bank of New York Mellon Corp boosted its holdings in 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 purchasing an additional 518,727 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Park Hotels & Resorts Trading Up 1.3 %

Shares of NYSE PK opened at $10.89 on Thursday. Park Hotels & Resorts Inc. has a 12-month low of $10.37 and a 12-month high of $17.87. The company has a market cap of $2.20 billion, a price-to-earnings ratio of 10.78, a price-to-earnings-growth ratio of 1.51 and a beta of 1.73. The company has a current ratio of 1.19, a quick ratio of 1.51 and a debt-to-equity ratio of 1.27. The stock’s 50 day simple moving average is $12.31 and its 200 day simple moving average is $13.77.

Park Hotels & Resorts (NYSE:PK) last announced its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.01). The firm had revenue of $625.00 million for the quarter, compared to analyst estimates of $609.05 million. Park Hotels & Resorts had a net margin of 8.16% and a return on equity of 5.63%. Equities research analysts expect that Park Hotels & Resorts Inc. will post 2.11 EPS for the current year.

Park Hotels & Resorts Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 9.18%. The ex-dividend date is Monday, March 31st. Park Hotels & Resorts’s dividend payout ratio (DPR) is 99.01%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PK. UBS Group cut their target price on Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating on the stock in a research report on Monday, February 3rd. Truist Financial reduced their price objective on shares of 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. StockNews.com downgraded shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research report on Friday, February 21st. Wells Fargo & Company reduced their price target on shares of Park Hotels & Resorts from $17.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 18th. Finally, Jefferies Financial Group decreased their price target on Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating for the company in a research note on Thursday, January 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $17.72.

Park Hotels & Resorts 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.