Zurcher Kantonalbank Zurich Cantonalbank raised its position in Park Hotels & Resorts Inc. (NYSE:PK – Free Report) by 12.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 81,274 shares of the financial services provider’s stock after buying an additional 8,987 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Park Hotels & Resorts were worth $1,005,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in shares of Park Hotels & Resorts by 5.4% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 122,708 shares of the financial services provider’s stock valued at $1,517,000 after purchasing an additional 6,261 shares in the last quarter. Bailard Inc. acquired a new stake in shares of Park Hotels & Resorts in the 1st quarter valued at about $209,000. Truist Financial Corp acquired a new stake in shares of Park Hotels & Resorts in the 1st quarter valued at about $414,000. Assetmark Inc. raised its stake in shares of Park Hotels & Resorts by 1,792.9% in the 1st quarter. Assetmark Inc. now owns 19,327 shares of the financial services provider’s stock valued at $239,000 after purchasing an additional 18,306 shares in the last quarter. Finally, Coombe Bender & Co LLC raised its stake in shares of Park Hotels & Resorts by 1.4% in the 1st quarter. Coombe Bender & Co LLC now owns 272,769 shares of the financial services provider’s stock valued at $3,371,000 after purchasing an additional 3,727 shares in the last quarter. 90.38% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several research firms recently weighed in on PK. Wells Fargo & Company increased their price objective on shares of Park Hotels & Resorts from $13.00 to $15.00 in a research note on Wednesday, July 12th. Truist Financial dropped their price objective on shares of Park Hotels & Resorts from $20.00 to $19.00 and set a “buy” rating on the stock in a research note on Thursday, July 20th. Barclays dropped their price target on shares of Park Hotels & Resorts from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 27th. StockNews.com started coverage on shares of Park Hotels & Resorts in a research note on Thursday. They issued a “sell” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Park Hotels & Resorts from $20.00 to $21.00 in a research note on Tuesday, May 2nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $17.38.
Park Hotels & Resorts Trading Up 0.4 %
Park Hotels & Resorts stock opened at $12.86 on Thursday. The firm has a 50 day simple moving average of $13.13 and a 200-day simple moving average of $13.05. The company has a debt-to-equity ratio of 1.12, a current ratio of 2.67 and a quick ratio of 2.67. The stock has a market capitalization of $2.77 billion, a PE ratio of -51.44, a price-to-earnings-growth ratio of 0.84 and a beta of 1.92. Park Hotels & Resorts Inc. has a 12-month low of $10.70 and a 12-month high of $15.82.
Park Hotels & Resorts Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, July 17th. Stockholders of record on Friday, June 30th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 4.67%. The ex-dividend date of this dividend was Thursday, June 29th. Park Hotels & Resorts’s dividend payout ratio (DPR) is presently -240.00%.
Park Hotels & Resorts Company Profile
Park is one of the largest publicly-traded lodging REITs with a diverse portfolio of iconic and market-leading hotels and resorts with significant underlying real estate value. Park's portfolio currently consists of 46 premium-branded hotels and resorts with over 29,000 rooms primarily located in prime city center and resort locations.
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