Daiwa Securities Group Inc. Has $1.06 Million Stock Holdings in Park Hotels & Resorts Inc. (NYSE:PK)

Daiwa Securities Group Inc. reduced its stake in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 2.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 75,631 shares of the financial services provider’s stock after selling 1,738 shares during the period. Daiwa Securities Group Inc.’s holdings in Park Hotels & Resorts were worth $1,064,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. XTX Topco Ltd raised its holdings in Park Hotels & Resorts by 420.7% during the 3rd quarter. XTX Topco Ltd now owns 89,168 shares of the financial services provider’s stock worth $1,257,000 after buying an additional 72,044 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Park Hotels & Resorts by 321.6% in 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 during the last quarter. JPMorgan Chase & Co. raised its holdings 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 valued at $49,182,000 after purchasing an additional 540,920 shares during the last quarter. Northeast Financial Group Inc. raised its holdings in shares of Park Hotels & Resorts by 34.4% in the fourth quarter. Northeast Financial Group Inc. now owns 124,674 shares of the financial services provider’s stock valued at $1,754,000 after purchasing an additional 31,928 shares during the last quarter. Finally, Systematic Financial Management LP acquired a new stake in shares of Park Hotels & Resorts in the third quarter valued at approximately $768,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. StockNews.com downgraded shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a report on Friday, February 21st. UBS Group lowered their price objective on shares of Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating on the stock in a report on Monday, February 3rd. Wells Fargo & Company lowered their price objective on shares of Park Hotels & Resorts from $17.00 to $14.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 18th. Finally, Jefferies Financial Group decreased 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 research note on Thursday, January 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $18.15.

Park Hotels & Resorts Stock Up 4.1 %

Shares of NYSE PK opened at $11.35 on Friday. 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 company has a market cap of $2.29 billion, a price-to-earnings ratio of 11.23, a PEG ratio of 1.51 and a beta of 2.02. Park Hotels & Resorts Inc. has a 12 month low of $10.87 and a 12 month high of $18.05. The stock has a 50-day moving average price of $12.94 and a two-hundred day moving average price of $14.06.

Park Hotels & Resorts (NYSE:PK) last released its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $0.39 earnings per share 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 the consensus estimate of $609.05 million. Park Hotels & Resorts had a return on equity of 5.63% and a net margin of 8.16%. As a group, analysts forecast that Park Hotels & Resorts Inc. will post 2.11 earnings per share for the current fiscal year.

Park Hotels & Resorts Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 8.81%. The ex-dividend date is Monday, March 31st. Park Hotels & Resorts’s dividend payout ratio (DPR) is currently 99.01%.

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.