Northeast Financial Group Inc. Grows Stake in Park Hotels & Resorts Inc. (NYSE:PK)

Northeast Financial Group Inc. lifted its position in Park Hotels & Resorts Inc. (NYSE:PK) by 34.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 124,674 shares of the financial services provider’s stock after purchasing an additional 31,928 shares during the quarter. Park Hotels & Resorts comprises approximately 0.6% of Northeast Financial Group Inc.’s portfolio, making the stock its 29th largest holding. Northeast Financial Group Inc.’s holdings in Park Hotels & Resorts were worth $1,754,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Cascade Investment Advisors Inc. increased its holdings in shares of Park Hotels & Resorts by 1.3% in the 4th quarter. Cascade Investment Advisors Inc. now owns 73,487 shares of the financial services provider’s stock worth $1,034,000 after buying an additional 915 shares during the last quarter. KBC Group NV boosted its stake in Park Hotels & Resorts by 36.2% in the fourth quarter. KBC Group NV now owns 10,023 shares of the financial services provider’s stock worth $141,000 after buying an additional 2,663 shares in the last quarter. Merit Financial Group LLC purchased a new stake in shares of Park Hotels & Resorts in the 4th quarter valued at $146,000. Oak Thistle LLC bought a new position in shares of Park Hotels & Resorts during the 4th quarter valued at $280,000. Finally, Wealth Enhancement Advisory Services LLC raised its position in Park Hotels & Resorts by 0.9% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 79,994 shares of the financial services provider’s stock worth $1,128,000 after purchasing an additional 752 shares during the period. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on PK shares. Jefferies Financial Group reduced their price objective on Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating on the stock in a research note on Thursday, January 2nd. StockNews.com upgraded Park Hotels & Resorts from a “sell” rating to a “hold” rating in a report on Tuesday. Compass Point decreased their price target on shares of Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. UBS Group lifted their price target on Park Hotels & Resorts from $14.00 to $15.00 and gave the company a “neutral” rating in a research report on Monday, November 18th. Finally, Wells Fargo & Company lifted their price target on shares of Park Hotels & Resorts from $16.00 to $17.00 and gave the company an “equal weight” rating in a research report on Monday, December 9th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $18.65.

Park Hotels & Resorts Stock Up 0.5 %

PK stock opened at $13.42 on Thursday. The company has a market cap of $2.77 billion, a price-to-earnings ratio of 8.62, a P/E/G ratio of 5.69 and a beta of 2.02. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.51 and a current ratio of 1.51. The business’s 50-day moving average is $14.62 and its two-hundred day moving average is $14.52. Park Hotels & Resorts Inc. has a fifty-two week low of $13.22 and a fifty-two week high of $18.05.

Park Hotels & Resorts (NYSE:PK) last announced its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.21). The company had revenue of $649.00 million for the quarter, compared to the consensus estimate of $646.15 million. Park Hotels & Resorts had a net margin of 12.66% and a return on equity of 9.63%. The company’s revenue was down 4.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.51 earnings per share. As a group, analysts forecast that Park Hotels & Resorts Inc. will post 1.97 earnings per share for the current year.

Park Hotels & Resorts Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 19.37%. The ex-dividend date was Tuesday, December 31st. This is a positive change from Park Hotels & Resorts’s previous quarterly dividend of $0.25. Park Hotels & Resorts’s dividend payout ratio is presently 63.69%.

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.