Park Hotels & Resorts Inc. (NYSE:PK) Shares Acquired by Allianz Asset Management GmbH

Allianz Asset Management GmbH grew its holdings in Park Hotels & Resorts Inc. (NYSE:PK) by 3.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 3,583,943 shares of the financial services provider’s stock after buying an additional 125,730 shares during the period. Allianz Asset Management GmbH’s holdings in Park Hotels & Resorts were worth $50,426,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Park Hotels & Resorts by 0.9% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 79,994 shares of the financial services provider’s stock valued at $1,128,000 after purchasing an additional 752 shares during the last quarter. Cascade Investment Advisors Inc. lifted its stake in shares of Park Hotels & Resorts by 1.3% in the 4th quarter. Cascade Investment Advisors Inc. now owns 73,487 shares of the financial services provider’s stock valued at $1,034,000 after purchasing an additional 915 shares during the last quarter. Asset Management One Co. Ltd. lifted its stake in shares of Park Hotels & Resorts by 0.3% in the 4th quarter. Asset Management One Co. Ltd. now owns 338,032 shares of the financial services provider’s stock valued at $5,043,000 after purchasing an additional 1,011 shares during the last quarter. Tidal Investments LLC lifted its stake in shares of Park Hotels & Resorts by 5.5% in the 3rd quarter. Tidal Investments LLC now owns 19,522 shares of the financial services provider’s stock valued at $275,000 after purchasing an additional 1,020 shares during the last quarter. Finally, KBC Group NV lifted its stake in Park Hotels & Resorts by 34.4% during the 3rd quarter. KBC Group NV now owns 7,360 shares of the financial services provider’s stock worth $104,000 after acquiring an additional 1,882 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on PK shares. Compass Point decreased their target price on Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Jefferies Financial Group decreased their target price on 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. StockNews.com lowered Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research note on Friday. Wells Fargo & Company decreased their target price on Park Hotels & Resorts from $17.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 18th. Finally, UBS Group decreased their target price on 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. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Park Hotels & Resorts presently has a consensus rating of “Hold” and an average target price of $18.15.

Park Hotels & Resorts Price Performance

PK stock opened at $12.63 on Friday. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.19 and a quick ratio of 1.51. The firm has a market capitalization of $2.61 billion, a P/E ratio of 12.51, a P/E/G ratio of 1.51 and a beta of 2.00. The business’s 50-day moving average is $13.77 and its two-hundred day moving average is $14.31. Park Hotels & Resorts Inc. has a 1 year low of $12.52 and a 1 year high of $18.05.

Park Hotels & Resorts (NYSE:PK) last posted its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.01). Park Hotels & Resorts had a net margin of 8.16% and a return on equity of 5.63%. The company had revenue of $625.00 million during the quarter, compared to analyst estimates of $609.05 million. Analysts anticipate that Park Hotels & Resorts Inc. will post 2.11 earnings per share for the current fiscal 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 issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 7.92%. Park Hotels & Resorts’s payout ratio 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.