Wilmington Savings Fund Society FSB Buys 8,216 Shares of Park Hotels & Resorts Inc. (NYSE:PK)

Wilmington Savings Fund Society FSB lifted its stake in Park Hotels & Resorts Inc. (NYSE:PK) by 24.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 42,035 shares of the financial services provider’s stock after acquiring an additional 8,216 shares during the quarter. Wilmington Savings Fund Society FSB’s holdings in Park Hotels & Resorts were worth $591,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in PK. Donald Smith & CO. Inc. grew its position in Park Hotels & Resorts by 22.5% in the 3rd quarter. Donald Smith & CO. Inc. now owns 8,077,286 shares of the financial services provider’s stock worth $113,890,000 after purchasing an additional 1,484,295 shares during the period. 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. Charles Schwab Investment Management Inc. grew its holdings in shares of Park Hotels & Resorts by 2.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,902,728 shares of the financial services provider’s stock worth $40,928,000 after acquiring an additional 66,093 shares during the period. Private Management Group Inc. increased its position in Park Hotels & Resorts by 2.0% during the fourth quarter. Private Management Group Inc. now owns 2,269,849 shares of the financial services provider’s stock valued at $31,937,000 after acquiring an additional 44,606 shares during the last quarter. Finally, Los Angeles Capital Management LLC lifted its holdings in Park Hotels & Resorts by 1.2% in the third quarter. Los Angeles Capital Management LLC now owns 2,046,671 shares of the financial services provider’s stock valued at $28,858,000 after acquiring an additional 24,325 shares during the period. 92.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PK. Bank of America reduced their price target on shares of Park Hotels & Resorts from $17.00 to $16.50 and set a “neutral” rating for the company in a research report on Monday, October 21st. Jefferies Financial Group reduced their target price on shares of Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. UBS Group dropped their price target on shares of Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating on the stock in a research note on Monday, February 3rd. StockNews.com lowered Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research note on Wednesday, February 5th. Finally, Wells Fargo & Company lifted their target price on Park Hotels & Resorts from $16.00 to $17.00 and gave the company an “equal weight” rating in a research report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Park Hotels & Resorts has an average rating of “Hold” and a consensus price target of $18.45.

Park Hotels & Resorts Trading Down 1.9 %

Park Hotels & Resorts stock opened at $12.94 on Tuesday. Park Hotels & Resorts Inc. has a 1 year low of $12.80 and a 1 year high of $18.05. The firm’s 50 day moving average price is $14.31 and its 200-day moving average price is $14.43. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.51 and a quick ratio of 1.51. The stock has a market cap of $2.67 billion, a P/E ratio of 8.24 and a beta of 2.00.

Park Hotels & Resorts Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a $0.65 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $2.60 annualized dividend and a yield of 20.10%. This is a boost from Park Hotels & Resorts’s previous quarterly dividend of $0.25. Park Hotels & Resorts’s payout ratio is presently 63.69%.

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.