Kendall Capital Management Raises Position in Park Hotels & Resorts Inc. (NYSE:PK)

Kendall Capital Management lifted its holdings in Park Hotels & Resorts Inc. (NYSE:PK) by 10.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 15,405 shares of the financial services provider’s stock after buying an additional 1,450 shares during the quarter. Kendall Capital Management’s holdings in Park Hotels & Resorts were worth $217,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Raymond James Financial Inc. purchased a new stake in shares of Park Hotels & Resorts in the fourth quarter worth approximately $873,000. M&T Bank Corp raised its holdings in shares of Park Hotels & Resorts by 35.4% in the fourth quarter. M&T Bank Corp now owns 48,484 shares of the financial services provider’s stock worth $683,000 after buying an additional 12,681 shares during the period. Assetmark Inc. grew its stake in Park Hotels & Resorts by 3.4% in 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 in the last quarter. Carrera Capital Advisors purchased a new position in Park Hotels & Resorts during the 4th quarter worth $1,225,000. Finally, Victory Capital Management Inc. increased its holdings in Park Hotels & Resorts by 14.9% during the 4th quarter. Victory Capital Management Inc. now owns 125,281 shares of the financial services provider’s stock worth $1,763,000 after purchasing an additional 16,279 shares during the period. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have commented on PK shares. Jefferies Financial Group reduced their price objective on Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. 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 report on Tuesday, February 18th. StockNews.com downgraded Park Hotels & Resorts from a “hold” rating to a “sell” rating in a report on Friday, February 21st. Finally, UBS Group reduced their price objective on Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating on the stock in a report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $18.15.

Park Hotels & Resorts Trading Up 4.3 %

Shares of NYSE:PK opened at $12.39 on Monday. Park Hotels & Resorts Inc. has a 12-month low of $11.51 and a 12-month high of $18.05. The business’s fifty day simple moving average is $13.21 and its 200-day simple moving average is $14.17. The company has a market capitalization of $2.50 billion, a PE ratio of 12.26, a P/E/G ratio of 1.51 and a beta of 2.02. The company has a current ratio of 1.19, a quick ratio of 1.51 and a debt-to-equity ratio of 1.27.

Park Hotels & Resorts (NYSE:PK) last announced its 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). Park Hotels & Resorts had a return on equity of 5.63% and a net margin of 8.16%. The business had revenue of $625.00 million for the quarter, compared to analysts’ expectations of $609.05 million. As a group, equities research analysts predict 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. Shareholders of record on Monday, March 31st will be given a dividend of $0.25 per share. The ex-dividend date is Monday, March 31st. This represents a $1.00 dividend on an annualized basis and a yield of 8.07%. Park Hotels & Resorts’s dividend payout ratio is currently 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.