Cascade Investment Advisors Inc. Raises Position in Park Hotels & Resorts Inc. (NYSE:PK)

Cascade Investment Advisors Inc. increased its holdings in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 1.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 73,487 shares of the financial services provider’s stock after buying an additional 915 shares during the quarter. Cascade Investment Advisors Inc.’s holdings in Park Hotels & Resorts were worth $1,034,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. acquired a new stake in shares of Park Hotels & Resorts during the third quarter worth $33,000. Venturi Wealth Management LLC lifted its position in Park Hotels & Resorts by 281.6% during the 3rd quarter. Venturi Wealth Management LLC now owns 3,850 shares of the financial services provider’s stock worth $54,000 after acquiring an additional 2,841 shares during the period. Quarry LP grew its stake in Park Hotels & Resorts by 82.1% during the 2nd quarter. Quarry LP now owns 4,118 shares of the financial services provider’s stock valued at $62,000 after purchasing an additional 1,857 shares during the last quarter. Claro Advisors LLC acquired a new position in shares of Park Hotels & Resorts in the third quarter valued at about $69,000. Finally, Covestor Ltd increased its holdings in shares of Park Hotels & Resorts by 64.8% in the third quarter. Covestor Ltd now owns 6,894 shares of the financial services provider’s stock valued at $97,000 after purchasing an additional 2,711 shares during the period. 92.69% of the stock is owned by institutional investors and hedge funds.

Park Hotels & Resorts Stock Up 1.7 %

Park Hotels & Resorts stock opened at $13.72 on Tuesday. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.51 and a quick ratio of 1.51. The stock has a market capitalization of $2.83 billion, a PE ratio of 8.74, a price-to-earnings-growth ratio of 5.69 and a beta of 2.02. The business has a 50 day simple moving average of $14.64 and a 200-day simple moving average of $14.53. Park Hotels & Resorts Inc. has a 12 month low of $13.22 and a 12 month high of $18.05.

Park Hotels & Resorts (NYSE:PK) last issued its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $0.26 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.21). The company had revenue of $649.00 million during the quarter, compared to analysts’ expectations of $646.15 million. Park Hotels & Resorts had a return on equity of 9.63% and a net margin of 12.66%. Park Hotels & Resorts’s revenue was down 4.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.51 EPS. On average, analysts anticipate that Park Hotels & Resorts Inc. will post 1.97 EPS for the current fiscal year.

Park Hotels & Resorts Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a dividend of $0.65 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $2.60 dividend on an annualized basis and a dividend yield of 18.96%. This is a boost from Park Hotels & Resorts’s previous quarterly dividend of $0.25. Park Hotels & Resorts’s payout ratio is currently 63.69%.

Analyst Ratings Changes

A number of equities research analysts recently commented on PK shares. Jefferies Financial Group dropped their target price on Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating on the stock in a research report on Thursday, January 2nd. Wells Fargo & Company upped 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 lowered their price target on shares of Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Bank of America reduced their price objective on Park Hotels & Resorts from $17.00 to $16.50 and set a “neutral” rating for the company in a research note on Monday, October 21st. Finally, StockNews.com lowered Park Hotels & Resorts from a “hold” rating to a “sell” rating in a report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Park Hotels & Resorts currently has an average rating of “Hold” and a consensus price target of $18.65.

About Park Hotels & Resorts

Park is one of the largest publicly traded lodging REITs with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value. Park's portfolio currently consists of 43 premium-branded hotels and resorts with over 26,000 rooms primarily located in prime city center and resort locations.