Blue Zone Wealth Advisors LLC lifted its position in shares of Park Hotels & Resorts Inc. (NYSE:PK – Free Report) by 3.6% during the 4th quarter, Holdings Channel reports. The firm owned 267,810 shares of the financial services provider’s stock after purchasing an additional 9,210 shares during the quarter. Blue Zone Wealth Advisors LLC’s holdings in Park Hotels & Resorts were worth $3,768,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors also recently modified their holdings of the company. XTX Topco Ltd grew its stake in Park Hotels & Resorts by 420.7% in the 3rd quarter. XTX Topco Ltd now owns 89,168 shares of the financial services provider’s stock valued at $1,257,000 after buying an additional 72,044 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in Park Hotels & Resorts by 488.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 83,473 shares of the financial services provider’s stock valued at $1,177,000 after buying an additional 69,296 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Park Hotels & Resorts by 321.6% in the 3rd 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 buying an additional 1,075,255 shares during the last quarter. Donald Smith & CO. Inc. grew its stake in Park Hotels & Resorts by 22.5% in the 3rd quarter. Donald Smith & CO. Inc. now owns 8,077,286 shares of the financial services provider’s stock valued at $113,890,000 after buying an additional 1,484,295 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Park Hotels & Resorts by 18.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,488,097 shares of the financial services provider’s stock valued at $49,182,000 after buying an additional 540,920 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research analysts recently commented on the stock. Bank of America decreased their price target on shares of Park Hotels & Resorts from $17.00 to $16.50 and set a “neutral” rating on the stock in a research note on Monday, October 21st. StockNews.com raised shares of Park Hotels & Resorts from a “sell” rating to a “hold” rating in a report on Thursday. Wells Fargo & Company boosted their price objective on shares of Park Hotels & Resorts from $16.00 to $17.00 and gave the company an “equal weight” rating in a report on Monday, December 9th. Compass Point cut their price objective on shares of Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Finally, Jefferies Financial Group cut their price objective on shares of Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Park Hotels & Resorts has a consensus rating of “Moderate Buy” and a consensus target price of $18.45.
Park Hotels & Resorts Stock Performance
Shares of Park Hotels & Resorts stock opened at $12.88 on Friday. The company has a 50 day moving average of $14.02 and a 200-day moving average of $14.36. Park Hotels & Resorts Inc. has a 1-year low of $12.56 and a 1-year 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 company has a market cap of $2.66 billion, a PE ratio of 8.20 and a beta of 2.00.
Park Hotels & Resorts Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 20.19%. This is a boost from Park Hotels & Resorts’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Tuesday, December 31st. Park Hotels & Resorts’s dividend payout ratio is currently 63.69%.
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.
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