Park Hotels & Resorts Inc. $PK Stock Holdings Boosted by Sterling Capital Management LLC

Sterling Capital Management LLC raised its position in Park Hotels & Resorts Inc. (NYSE:PK) by 13.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 286,395 shares of the financial services provider’s stock after acquiring an additional 33,539 shares during the quarter. Sterling Capital Management LLC owned approximately 0.14% of Park Hotels & Resorts worth $4,416,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Two Sigma Securities LLC acquired a new stake in Park Hotels & Resorts during the 2nd quarter worth approximately $527,000. Advisors Capital Management LLC purchased a new position in Park Hotels & Resorts in the 2nd quarter valued at approximately $19,160,000. Northwestern Mutual Wealth Management Co. grew its stake in shares of Park Hotels & Resorts by 227.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 121,666 shares of the financial services provider’s stock worth $1,734,000 after acquiring an additional 84,544 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new position in shares of Park Hotels & Resorts in the second quarter worth $2,748,000. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Park Hotels & Resorts in the second quarter worth $3,131,000. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Morgan Stanley lifted their target price on Park Hotels & Resorts from $11.00 to $13.00 and gave the company an “equal weight” rating in a report on Monday, October 12th. BMO Capital Markets raised Park Hotels & Resorts from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $14.00 to $18.00 in a research note on Tuesday, September 1st. JPMorgan Chase & Co. upped their price target on Park Hotels & Resorts from $14.00 to $16.00 and gave the stock an “underweight” rating in a report on Wednesday. Raymond James Financial raised Park Hotels & Resorts from a “market perform” rating to a “strong-buy” rating and set a $19.00 price target on the stock in a research report on Monday, September 28th. Finally, Wells Fargo & Company upgraded Park Hotels & Resorts to a “hold” rating in a research note on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $16.09.

Park Hotels & Resorts Price Performance

Shares of PK opened at $16.34 on Friday. Park Hotels & Resorts Inc. has a twelve month low of $9.84 and a twelve month high of $17.14. The firm’s fifty day simple moving average is $15.52 and its 200-day simple moving average is $14.00. The firm has a market capitalization of $3.29 billion, a price-to-earnings ratio of -19.69 and a beta of 1.36. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 1.29.

Park Hotels & Resorts (NYSE:PK) last announced its quarterly earnings results on Thursday, August 6th. The financial services provider reported $0.24 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.24. The company had revenue of $680.00 million during 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 revenue for the quarter was up 1.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.64 EPS. Park Hotels & Resorts has set its FY 2026 guidance at 1.900-2.000 EPS. Equities analysts forecast that Park Hotels & Resorts Inc. will post 1.87 EPS for the current fiscal year.

Park Hotels & Resorts Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 6.1%. The ex-dividend date was Wednesday, September 30th. Park Hotels & Resorts’s dividend payout ratio (DPR) is currently -120.48%.

Park Hotels & Resorts Company Profile

Park Hotels & Resorts Inc (NYSE: PK) is a real estate investment trust focused on owning and operating hotels and resorts. The company’s portfolio includes full-service properties in major business and leisure destinations, with hotels operating under Hilton brands as well as other nationally recognized and independent brands.

Park’s properties provide lodging, food and beverage, meeting and event facilities, and other hospitality services. Its hotels are located primarily in the United States, including gateway cities, convention markets, and resort destinations.

Park Hotels & Resorts was formed in 2017 through a spin-off from Hilton Worldwide Holdings.