Park Hotels & Resorts Inc. $PK Position Lowered by Legal & General Group Plc

Legal & General Group Plc trimmed its position in Park Hotels & Resorts Inc. (NYSE:PK) by 2.0% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,281,258 shares of the financial services provider’s stock after selling 26,780 shares during the period. Legal & General Group Plc owned 0.64% of Park Hotels & Resorts worth $13,107,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Bessemer Group Inc. lifted its holdings in Park Hotels & Resorts by 359.3% during the 2nd quarter. Bessemer Group Inc. now owns 3,082 shares of the financial services provider’s stock worth $32,000 after buying an additional 2,411 shares during the last quarter. IFP Advisors Inc raised its position in shares of Park Hotels & Resorts by 469.0% during the 2nd quarter. IFP Advisors Inc now owns 3,465 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 2,856 shares in the last quarter. Allworth Financial LP raised its position in shares of Park Hotels & Resorts by 322.4% during the 2nd quarter. Allworth Financial LP now owns 3,920 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 2,992 shares in the last quarter. Quarry LP lifted its stake in Park Hotels & Resorts by 186.6% during the first quarter. Quarry LP now owns 7,170 shares of the financial services provider’s stock worth $77,000 after purchasing an additional 4,668 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Park Hotels & Resorts by 71.7% in the second quarter. GAMMA Investing LLC now owns 9,072 shares of the financial services provider’s stock worth $93,000 after purchasing an additional 3,789 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Cantor Fitzgerald started coverage on shares of Park Hotels & Resorts in a report on Wednesday, October 1st. They set a “neutral” rating and a $12.00 target price on the stock. Wells Fargo & Company upgraded shares of Park Hotels & Resorts to a “hold” rating in a research note on Friday, October 3rd. UBS Group raised their target price on shares of Park Hotels & Resorts from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Monday, October 6th. Weiss Ratings restated a “sell (d+)” rating on shares of Park Hotels & Resorts in a research note on Tuesday. Finally, Evercore ISI dropped their price target on Park Hotels & Resorts from $13.00 to $12.00 and set an “in-line” rating on the stock in a research report on Thursday, November 20th. One research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $11.10.

Park Hotels & Resorts Price Performance

Shares of NYSE:PK opened at $10.82 on Friday. The firm’s 50 day moving average is $10.81 and its two-hundred day moving average is $10.88. Park Hotels & Resorts Inc. has a 52 week low of $8.27 and a 52 week high of $16.23. The firm has a market capitalization of $2.16 billion, a P/E ratio of -154.57 and a beta of 1.84. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.37.

Park Hotels & Resorts (NYSE:PK) last issued its quarterly earnings data on Thursday, October 30th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.08). Park Hotels & Resorts had a negative return on equity of 1.25% and a negative net margin of 0.47%.The business had revenue of $610.00 million during the quarter, compared to the consensus estimate of $617.05 million. During the same period last year, the company earned $0.49 earnings per share. The business’s quarterly revenue was down 6.0% compared to the same quarter last year. Park Hotels & Resorts has set its FY 2025 guidance at 1.850-1.970 EPS. Analysts anticipate that Park Hotels & Resorts Inc. will post 2.11 earnings per share for the current year.

Park Hotels & Resorts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.2%. The ex-dividend date of this dividend is Wednesday, December 31st. Park Hotels & Resorts’s dividend payout ratio (DPR) is -1,428.57%.

About Park Hotels & Resorts

Park Hotels & Resorts, Inc operates as a real estate investment trust, which owns and operates hotels and resorts. It operates through the Consolidated Hotels and Unconsolidated Hotels segments. Its portfolio of hotels and resorts include the Waldorf Astoria Hotels and Resorts, Conrad Hotels & Resorts, Hilton Hotels & Resorts, DoubleTree by Hilton, Embassy Suites by Hilton, Hilton Garden Inn, Hampton by Hilton, and Curio.