Mitsubishi UFJ Trust & Banking Corp Sells 25,683 Shares of Park Hotels & Resorts Inc. (NYSE:PK)

Mitsubishi UFJ Trust & Banking Corp reduced its stake in Park Hotels & Resorts Inc. (NYSE:PK) by 18.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 113,568 shares of the financial services provider’s stock after selling 25,683 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.06% of Park Hotels & Resorts worth $1,598,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in PK. Wealth Enhancement Advisory Services LLC lifted its position in shares of Park Hotels & Resorts by 0.9% during 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 acquiring an additional 752 shares during the period. Assetmark Inc. lifted its position in Park Hotels & Resorts by 3.4% during the fourth quarter. Assetmark Inc. now owns 23,355 shares of the financial services provider’s stock worth $329,000 after purchasing an additional 764 shares during the period. Xponance Inc. grew its stake in Park Hotels & Resorts by 3.8% during the fourth quarter. Xponance Inc. now owns 24,650 shares of the financial services provider’s stock worth $347,000 after buying an additional 892 shares in the last quarter. Cascade Investment Advisors Inc. increased its holdings in 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 buying an additional 915 shares during the period. Finally, Asset Management One Co. Ltd. raised its position 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 buying an additional 1,011 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Park Hotels & Resorts Price Performance

Shares of NYSE:PK opened at $10.76 on Wednesday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.51 and a current ratio of 1.19. Park Hotels & Resorts Inc. has a 52 week low of $10.46 and a 52 week high of $17.87. The firm has a market cap of $2.17 billion, a PE ratio of 10.65, a price-to-earnings-growth ratio of 1.51 and a beta of 2.02. The firm’s fifty day moving average is $12.36 and its 200-day moving average is $13.79.

Park Hotels & Resorts (NYSE:PK) last announced its earnings results on Wednesday, February 19th. The financial services provider reported $0.39 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.01). The company had revenue of $625.00 million for the quarter, compared to analyst estimates of $609.05 million. Park Hotels & Resorts had a return on equity of 5.63% and a net margin of 8.16%. Sell-side analysts predict that Park Hotels & Resorts Inc. will post 2.11 earnings per share for the current year.

Park Hotels & Resorts Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.00 annualized dividend and a yield of 9.30%. Park Hotels & Resorts’s payout ratio is 99.01%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. StockNews.com cut shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research note on Friday, February 21st. UBS Group lowered their price target on Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating for the company in a report on Monday, February 3rd. Wells Fargo & Company reduced their price objective 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. Truist Financial lowered their target price on Park Hotels & Resorts from $18.00 to $16.00 and set a “buy” rating for the company in a research note on Friday, March 21st. Finally, Jefferies Financial Group reduced their price target 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. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $17.72.

About Park Hotels & Resorts

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.