Blue Zone Wealth Advisors LLC Boosts Stock Position in Park Hotels & Resorts Inc. (NYSE:PK)

Blue Zone Wealth Advisors LLC raised its stake in Park Hotels & Resorts Inc. (NYSE:PK) by 2.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 251,854 shares of the financial services provider’s stock after purchasing an additional 5,825 shares during the quarter. Park Hotels & Resorts accounts for 1.5% of Blue Zone Wealth Advisors LLC’s investment portfolio, making the stock its 29th biggest holding. Blue Zone Wealth Advisors LLC owned about 0.12% of Park Hotels & Resorts worth $4,405,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the stock. FMR LLC grew its holdings in shares of Park Hotels & Resorts by 18.2% during the third quarter. FMR LLC now owns 884,843 shares of the financial services provider’s stock worth $10,901,000 after buying an additional 136,434 shares in the last quarter. Invesco Ltd. raised its position in shares of Park Hotels & Resorts by 16.2% during the 3rd quarter. Invesco Ltd. now owns 1,211,129 shares of the financial services provider’s stock valued at $14,921,000 after acquiring an additional 169,081 shares in the last quarter. Federated Hermes Inc. grew its holdings in shares of Park Hotels & Resorts by 23.0% during the third quarter. Federated Hermes Inc. now owns 40,222 shares of the financial services provider’s stock valued at $496,000 after purchasing an additional 7,515 shares during the last quarter. Lazard Asset Management LLC lifted its position in Park Hotels & Resorts by 17.1% in the 3rd quarter. Lazard Asset Management LLC now owns 50,758 shares of the financial services provider’s stock valued at $624,000 after purchasing an additional 7,415 shares during the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of Park Hotels & Resorts by 30.8% in the third quarter. AQR Capital Management LLC now owns 1,157,998 shares of the financial services provider’s stock worth $14,267,000 after purchasing an additional 272,760 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Park Hotels & Resorts Stock Performance

Shares of NYSE PK traded up $0.34 during trading hours on Friday, reaching $14.98. 2,540,429 shares of the stock were exchanged, compared to its average volume of 2,739,056. The firm has a market capitalization of $3.15 billion, a price-to-earnings ratio of 34.05, a P/E/G ratio of 0.73 and a beta of 2.01. The stock’s fifty day simple moving average is $15.68 and its 200 day simple moving average is $16.13. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.48 and a current ratio of 1.48. Park Hotels & Resorts Inc. has a 52 week low of $11.05 and a 52 week high of $18.05.

Park Hotels & Resorts (NYSE:PK) last announced its earnings results on Tuesday, April 30th. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.17). The business had revenue of $639.00 million for the quarter, compared to analyst estimates of $630.46 million. Park Hotels & Resorts had a return on equity of 3.08% and a net margin of 3.42%. Sell-side analysts predict that Park Hotels & Resorts Inc. will post 2.11 EPS for the current year.

Park Hotels & Resorts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 6.68%. The ex-dividend date is Friday, June 28th. Park Hotels & Resorts’s dividend payout ratio (DPR) is currently 227.27%.

Wall Street Analyst Weigh In

Several brokerages recently commented on PK. Citigroup raised Park Hotels & Resorts from a “neutral” rating to a “buy” rating and boosted their price target for the company from $14.00 to $20.00 in a research note on Friday, March 22nd. UBS Group boosted their price objective on Park Hotels & Resorts from $14.00 to $18.00 and gave the stock a “neutral” rating in a report on Wednesday, March 6th. Wells Fargo & Company upped their price objective on Park Hotels & Resorts from $17.00 to $18.00 and gave the company an “equal weight” rating in a report on Thursday, March 21st. Barclays lifted their price objective on shares of Park Hotels & Resorts from $21.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday, May 24th. Finally, Evercore ISI upgraded Park Hotels & Resorts from an “in-line” rating to an “outperform” rating and boosted their price objective for the company from $19.00 to $20.00 in a research report on Wednesday, May 15th. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $17.83.

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.