Samalin Investment Counsel LLC Makes New Investment in Park Hotels & Resorts Inc. (NYSE:PK)

Samalin Investment Counsel LLC bought a new stake in shares of Park Hotels & Resorts Inc. (NYSE:PK) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 10,465 shares of the financial services provider’s stock, valued at approximately $147,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Victory Capital Management Inc. lifted its position in Park Hotels & Resorts by 21.5% during the third quarter. Victory Capital Management Inc. now owns 109,002 shares of the financial services provider’s stock valued at $1,537,000 after buying an additional 19,273 shares during the period. Intech Investment Management LLC lifted its holdings in shares of Park Hotels & Resorts by 28.1% during the third quarter. Intech Investment Management LLC now owns 136,310 shares of the financial services provider’s stock valued at $1,922,000 after purchasing an additional 29,894 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Park Hotels & Resorts by 2.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,902,728 shares of the financial services provider’s stock worth $40,928,000 after buying an additional 66,093 shares during the last quarter. Cerity Partners LLC raised its stake in Park Hotels & Resorts by 47.1% during the third quarter. Cerity Partners LLC now owns 150,971 shares of the financial services provider’s stock valued at $2,129,000 after buying an additional 48,308 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted its holdings in Park Hotels & Resorts by 6.8% in the third quarter. Daiwa Securities Group Inc. now owns 77,369 shares of the financial services provider’s stock worth $1,091,000 after acquiring an additional 4,936 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Truist Financial decreased their target price on shares of Park Hotels & Resorts from $18.00 to $16.00 and set a “buy” rating for the company in a report on Friday. StockNews.com lowered Park Hotels & Resorts from a “hold” rating to a “sell” rating in a report on Friday, February 21st. UBS Group decreased their target price on Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating for the company in a research report on Monday, February 3rd. Jefferies Financial Group lowered their target price on shares of Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating on the stock in a research note on Thursday, January 2nd. Finally, 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 research report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $17.72.

Park Hotels & Resorts Stock Performance

NYSE:PK opened at $11.19 on Monday. Park Hotels & Resorts Inc. has a 52-week low of $10.87 and a 52-week high of $17.96. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.51 and a current ratio of 1.19. The firm has a market capitalization of $2.26 billion, a PE ratio of 11.07, a P/E/G ratio of 1.51 and a beta of 2.02. The stock has a 50-day simple moving average of $12.73 and a two-hundred day simple moving average of $13.93.

Park Hotels & Resorts (NYSE:PK) last released its 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). Park Hotels & Resorts had a return on equity of 5.63% and a net margin of 8.16%. The firm had revenue of $625.00 million during the quarter, compared to analysts’ expectations of $609.05 million. Analysts forecast 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. Stockholders of record on Monday, March 31st will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.94%. The ex-dividend date of this dividend is Monday, March 31st. Park Hotels & Resorts’s dividend payout ratio (DPR) is 99.01%.

Park Hotels & Resorts Company 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.