175,893 Shares in Park Hotels & Resorts Inc. (NYSE:PK) Acquired by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Park Hotels & Resorts Inc. (NYSE:PK) during the third quarter, HoldingsChannel reports. The institutional investor purchased 175,893 shares of the financial services provider’s stock, valued at approximately $2,480,000.

Other institutional investors also recently bought and sold shares of the company. Donald Smith & CO. Inc. boosted its position in Park Hotels & Resorts by 22.5% during 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. AQR Capital Management LLC boosted its position in shares of Park Hotels & Resorts by 287.7% in the second quarter. AQR Capital Management LLC now owns 5,252,853 shares of the financial services provider’s stock worth $77,217,000 after buying an additional 3,897,889 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Park Hotels & Resorts by 3.8% in the second quarter. Dimensional Fund Advisors LP now owns 3,113,325 shares of the financial services provider’s stock valued at $46,638,000 after buying an additional 115,391 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Park Hotels & Resorts by 2.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,902,728 shares of the financial services provider’s stock valued at $40,928,000 after buying an additional 66,093 shares during the period. Finally, Jupiter Asset Management Ltd. lifted its position in Park Hotels & Resorts by 286.9% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 2,597,091 shares of the financial services provider’s stock worth $38,904,000 after acquiring an additional 1,925,850 shares in the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Park Hotels & Resorts Price Performance

Shares of PK opened at $15.55 on Friday. Park Hotels & Resorts Inc. has a 52 week low of $13.23 and a 52 week high of $18.05. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 1.24. The firm has a market cap of $3.21 billion, a price-to-earnings ratio of 9.90, a PEG ratio of 6.99 and a beta of 2.02. The stock has a 50 day moving average of $14.49 and a 200-day moving average of $14.73.

Park Hotels & Resorts (NYSE:PK) last released its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.21). The business had revenue of $649.00 million during the quarter, compared to analyst estimates of $646.15 million. Park Hotels & Resorts had a return on equity of 9.63% and a net margin of 12.66%. The business’s revenue for the quarter was down 4.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.51 EPS. As a group, analysts forecast that Park Hotels & Resorts Inc. will post 1.97 EPS for the current year.

Park Hotels & Resorts Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.65 per share. This is a positive change from Park Hotels & Resorts’s previous quarterly dividend of $0.25. The ex-dividend date is Tuesday, December 31st. This represents a $2.60 annualized dividend and a yield of 16.72%. Park Hotels & Resorts’s dividend payout ratio is 63.69%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. StockNews.com lowered shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. Evercore ISI dropped their price target on shares of Park Hotels & Resorts from $20.00 to $19.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 13th. Bank of America decreased their price objective 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. UBS Group lifted their target price on Park Hotels & Resorts from $14.00 to $15.00 and gave the stock a “neutral” rating in a research report on Monday, November 18th. Finally, Truist Financial reduced their price target on Park Hotels & Resorts from $20.00 to $18.00 and set a “buy” rating for the company in a report on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $18.23.

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.