Ontario Teachers Pension Plan Board Invests $257,000 in Park Hotels & Resorts Inc. (NYSE:PK)

Ontario Teachers Pension Plan Board bought a new stake in Park Hotels & Resorts Inc. (NYSE:PK) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 18,269 shares of the financial services provider’s stock, valued at approximately $257,000.

Other hedge funds have also bought and sold shares of the company. MML Investors Services LLC increased its holdings in shares of Park Hotels & Resorts by 55.1% in the 3rd quarter. MML Investors Services LLC now owns 24,634 shares of the financial services provider’s stock worth $347,000 after buying an additional 8,749 shares during the last quarter. Barclays PLC raised its position in Park Hotels & Resorts by 22.4% during the third quarter. Barclays PLC now owns 319,593 shares of the financial services provider’s stock valued at $4,507,000 after purchasing an additional 58,432 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Park Hotels & Resorts during the third quarter worth about $477,000. Tidal Investments LLC boosted its holdings 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 worth $275,000 after purchasing an additional 1,020 shares in the last quarter. Finally, Franklin Resources Inc. increased its position in shares of Park Hotels & Resorts by 43.6% during the 3rd quarter. Franklin Resources Inc. now owns 687,580 shares of the financial services provider’s stock valued at $9,936,000 after purchasing an additional 208,877 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors.

Park Hotels & Resorts Stock Performance

Park Hotels & Resorts stock opened at $9.84 on Friday. The company has a current ratio of 1.19, a quick ratio of 1.51 and a debt-to-equity ratio of 1.27. The firm has a market cap of $1.99 billion, a P/E ratio of 9.74, a P/E/G ratio of 1.51 and a beta of 1.73. Park Hotels & Resorts Inc. has a 1-year low of $8.27 and a 1-year high of $16.95. The firm has a 50-day moving average of $11.31 and a 200-day moving average of $13.31.

Park Hotels & Resorts (NYSE:PK) last released its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $609.05 million. Sell-side analysts expect that Park Hotels & Resorts Inc. will post 2.11 EPS for the current year.

Park Hotels & Resorts Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 10.17%. The ex-dividend date of this dividend was Monday, March 31st. Park Hotels & Resorts’s dividend payout ratio (DPR) is currently 99.01%.

Analyst Ratings Changes

Several analysts have issued reports on PK shares. UBS Group cut their target price on Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating for the company in a research note on Monday, February 3rd. Wells Fargo & Company cut their price objective on shares of Park Hotels & Resorts from $17.00 to $14.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 18th. Jefferies Financial Group cut shares of Park Hotels & Resorts from a “buy” rating to a “hold” rating and decreased their target price for the stock from $19.00 to $10.00 in a research report on Wednesday, April 9th. Truist Financial cut their price target on shares of Park Hotels & Resorts from $18.00 to $16.00 and set a “buy” rating for the company in a research report on Friday, March 21st. Finally, StockNews.com downgraded Park Hotels & Resorts from a “hold” rating to a “sell” rating in a report on Thursday, April 10th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $16.39.

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.