Park Hotels & Resorts Inc. (NYSE:PK) Holdings Raised by Donald Smith & CO. Inc.

Donald Smith & CO. Inc. grew its position in Park Hotels & Resorts Inc. (NYSE:PK) by 36.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,529,666 shares of the financial services provider’s stock after acquiring an additional 1,728,921 shares during the quarter. Park Hotels & Resorts makes up approximately 2.6% of Donald Smith & CO. Inc.’s holdings, making the stock its 12th largest position. Donald Smith & CO. Inc. owned 3.11% of Park Hotels & Resorts worth $99,904,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Russell Investments Group Ltd. grew its stake in Park Hotels & Resorts by 149.2% during the 4th quarter. Russell Investments Group Ltd. now owns 470,917 shares of the financial services provider’s stock worth $7,205,000 after buying an additional 281,967 shares during the last quarter. Truist Financial Corp grew its stake in Park Hotels & Resorts by 3.8% during the 4th quarter. Truist Financial Corp now owns 22,335 shares of the financial services provider’s stock worth $342,000 after buying an additional 816 shares during the last quarter. Stevens Capital Management LP bought a new position in Park Hotels & Resorts during the 4th quarter worth $307,000. Yousif Capital Management LLC grew its stake in Park Hotels & Resorts by 3.1% during the 4th quarter. Yousif Capital Management LLC now owns 86,109 shares of the financial services provider’s stock worth $1,317,000 after buying an additional 2,582 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in Park Hotels & Resorts by 3,694.6% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 1,355,522 shares of the financial services provider’s stock worth $20,739,000 after buying an additional 1,319,800 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PK has been the subject of several recent analyst reports. Citigroup raised Park Hotels & Resorts from a “neutral” rating to a “buy” rating and increased their price target for the stock from $14.00 to $20.00 in a research note on Friday, March 22nd. Jefferies Financial Group raised Park Hotels & Resorts from a “hold” rating to a “buy” rating and increased their price target for the stock from $14.00 to $21.00 in a research note on Tuesday, January 2nd. UBS Group upped their price objective on Park Hotels & Resorts from $14.00 to $18.00 and gave the company a “neutral” rating in a report on Wednesday, March 6th. Barclays upped their price target on Park Hotels & Resorts from $19.00 to $21.00 and gave the company an “overweight” rating in a research report on Friday, March 1st. Finally, Truist Financial upped their price target on Park Hotels & Resorts from $20.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, March 14th. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $17.58.

Park Hotels & Resorts Price Performance

Shares of Park Hotels & Resorts stock traded up $0.12 during midday trading on Monday, hitting $16.69. 3,393,541 shares of the company were exchanged, compared to its average volume of 2,764,352. The firm has a 50 day simple moving average of $16.91 and a 200-day simple moving average of $15.46. Park Hotels & Resorts Inc. has a 52 week low of $11.05 and a 52 week high of $18.05. The firm has a market cap of $3.51 billion, a P/E ratio of 36.02, a PEG ratio of 0.85 and a beta of 2.03. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.30 and a quick ratio of 1.30.

Park Hotels & Resorts (NYSE:PK) last released its quarterly earnings results on Tuesday, February 27th. The financial services provider reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.39. Park Hotels & Resorts had a return on equity of 2.44% and a net margin of 3.60%. The firm had revenue of $657.00 million during the quarter, compared to analysts’ expectations of $665.16 million. Research analysts forecast that Park Hotels & Resorts Inc. will post 2.06 earnings per share for the current year.

Park Hotels & Resorts Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.99%. The ex-dividend date of this dividend is Friday, June 28th. Park Hotels & Resorts’s dividend payout ratio is currently 217.39%.

Park Hotels & Resorts Profile

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.