121,666 Shares in Park Hotels & Resorts Inc. $PK Bought by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Park Hotels & Resorts Inc. (NYSE:PK) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 121,666 shares of the financial services provider’s stock, valued at approximately $1,734,000.

Several other institutional investors have also bought and sold shares of PK. Quantbot Technologies LP purchased a new position in shares of Park Hotels & Resorts in the 2nd quarter worth $746,000. Evolve Private Wealth LLC bought a new stake in shares of Park Hotels & Resorts in the 2nd quarter worth about $262,000. Farringdon Capital Ltd. purchased a new stake in shares of Park Hotels & Resorts during the 2nd quarter valued at about $160,000. Ieq Capital LLC purchased a new stake in shares of Park Hotels & Resorts during the 2nd quarter valued at about $341,000. Finally, Donald Smith & CO. Inc. bought a new position in shares of Park Hotels & Resorts in the 2nd quarter valued at about $207,120,000. Institutional investors own 92.69% of the company’s stock.

Park Hotels & Resorts Price Performance

Shares of PK stock opened at $15.87 on Tuesday. The company’s 50-day simple moving average is $14.76 and its two-hundred day simple moving average is $12.61. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.53 and a quick ratio of 1.53. Park Hotels & Resorts Inc. has a one year low of $9.84 and a one year high of $15.99. The company has a market capitalization of $3.20 billion, a P/E ratio of -19.12, a P/E/G ratio of 2.09 and a beta of 1.34.

Park Hotels & Resorts (NYSE:PK) last released its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $0.24 EPS for the quarter, hitting the consensus estimate of $0.24. The company had revenue of $680.00 million for the quarter, compared to the consensus estimate of $659.68 million. Park Hotels & Resorts had a negative return on equity of 5.23% and a negative net margin of 6.41%.Park Hotels & Resorts’s quarterly revenue was up 1.2% on a year-over-year basis. During the same period last year, the business posted $0.64 EPS. As a group, equities analysts anticipate that Park Hotels & Resorts Inc. will post 1.79 EPS for the current year.

Park Hotels & Resorts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be paid a dividend of $0.25 per share. The ex-dividend date is Wednesday, September 30th. This represents a $1.00 annualized dividend and a dividend yield of 6.3%. Park Hotels & Resorts’s dividend payout ratio (DPR) is currently -120.48%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on PK shares. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $18.00 price objective on shares of Park Hotels & Resorts in a research report on Friday, August 14th. Cantor Fitzgerald lifted their target price on Park Hotels & Resorts from $12.00 to $15.00 and gave the stock a “neutral” rating in a report on Tuesday, August 11th. Weiss Ratings raised Park Hotels & Resorts from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, August 11th. BMO Capital Markets restated a “market perform” rating and set a $14.00 price target on shares of Park Hotels & Resorts in a report on Friday, June 12th. Finally, Truist Financial raised their price target on Park Hotels & Resorts from $12.00 to $13.00 and gave the stock a “hold” rating in a research report on Tuesday, May 26th. Two equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Park Hotels & Resorts currently has a consensus rating of “Hold” and an average price target of $13.92.

Park Hotels & Resorts Profile

Park Hotels & Resorts Inc is a publicly traded real estate investment trust (REIT) specializing in luxury and upper-upscale hospitality properties. The company’s primary business activity involves owning and leasing premier hotels and resorts across major urban and resort destinations. Through long-term management and franchise agreements with leading hotel operators, Park generates revenue from room nights, food and beverage offerings, meetings and events, and ancillary services.

Since its spin-off from Hilton Worldwide in January 2017, Park Hotels & Resorts has assembled a diversified portfolio of more than 60 properties.