9,639 Shares in Park Hotels & Resorts Inc. $PK Purchased by Kestra Investment Management LLC

Kestra Investment Management LLC acquired a new position in Park Hotels & Resorts Inc. (NYSE:PK) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 9,639 shares of the financial services provider’s stock, valued at approximately $103,000.

Other large investors also recently added to or reduced their stakes in the company. UMB Bank n.a. increased its holdings in Park Hotels & Resorts by 140.9% in the 1st quarter. UMB Bank n.a. now owns 2,385 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 1,395 shares during the last quarter. Versant Capital Management Inc increased its holdings in Park Hotels & Resorts by 11,039.1% in the 1st quarter. Versant Capital Management Inc now owns 2,562 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 2,539 shares during the last quarter. GF Fund Management CO. LTD. purchased a new stake in Park Hotels & Resorts in the 4th quarter worth about $53,000. GAMMA Investing LLC increased its holdings in Park Hotels & Resorts by 401.2% in the 1st quarter. GAMMA Investing LLC now owns 5,283 shares of the financial services provider’s stock worth $56,000 after acquiring an additional 4,229 shares during the last quarter. Finally, Quarry LP increased its holdings in Park Hotels & Resorts by 186.6% in the 1st quarter. Quarry LP now owns 7,170 shares of the financial services provider’s stock worth $77,000 after acquiring an additional 4,668 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on PK. Evercore ISI lowered Park Hotels & Resorts from an “outperform” rating to an “in-line” rating and set a $13.00 price objective for the company. in a report on Friday, May 16th. JPMorgan Chase & Co. started coverage on Park Hotels & Resorts in a report on Monday, June 23rd. They set an “underweight” rating and a $10.00 target price for the company. Morgan Stanley reaffirmed an “outperform” rating on shares of Park Hotels & Resorts in a report on Tuesday, July 15th. Citigroup lowered Park Hotels & Resorts from a “buy” rating to a “neutral” rating and reduced their target price for the company from $13.00 to $12.00 in a report on Tuesday. Finally, Wall Street Zen lowered Park Hotels & Resorts from a “hold” rating to a “sell” rating in a report on Friday, July 18th. Two analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $12.20.

Park Hotels & Resorts Stock Down 1.4%

Shares of NYSE PK opened at $11.71 on Wednesday. Park Hotels & Resorts Inc. has a 12 month low of $8.27 and a 12 month high of $16.23. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.35. The firm has a market capitalization of $2.34 billion, a price-to-earnings ratio of 43.37 and a beta of 1.80. The business has a 50-day moving average of $11.11 and a 200-day moving average of $10.77.

Park Hotels & Resorts (NYSE:PK) last issued its quarterly earnings data on Thursday, July 31st. The financial services provider reported $0.64 EPS for the quarter, topping the consensus estimate of $0.57 by $0.07. Park Hotels & Resorts had a return on equity of 0.76% and a net margin of 2.25%.The company had revenue of $672.00 million during the quarter, compared to analyst estimates of $672.37 million. During the same quarter in the previous year, the firm earned $0.65 earnings per share. Park Hotels & Resorts’s revenue was down 2.0% on a year-over-year basis. Park Hotels & Resorts has set its FY 2025 guidance at 1.820-2.080 EPS. Sell-side analysts expect that Park Hotels & Resorts Inc. will post 2.11 earnings per share for the current fiscal year.

Park Hotels & Resorts Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $1.00 annualized dividend and a dividend yield of 8.5%. Park Hotels & Resorts’s payout ratio is presently 370.37%.

Park Hotels & Resorts Company Profile

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.