Louisiana State Employees Retirement System Takes Position in Park Hotels & Resorts Inc. $PK

Louisiana State Employees Retirement System acquired a new stake in shares of Park Hotels & Resorts Inc. (NYSE:PK) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 58,000 shares of the financial services provider’s stock, valued at approximately $611,000.

A number of other hedge funds have also bought and sold shares of the business. Danske Bank A S bought a new position in Park Hotels & Resorts during the 3rd quarter valued at about $25,000. Advisory Services Network LLC bought a new stake in shares of Park Hotels & Resorts in the third quarter worth approximately $34,000. Harbor Capital Advisors Inc. raised its holdings in shares of Park Hotels & Resorts by 293.1% during the fourth quarter. Harbor Capital Advisors Inc. now owns 5,181 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 3,863 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Park Hotels & Resorts by 33.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,844 shares of the financial services provider’s stock valued at $61,000 after purchasing an additional 1,464 shares during the period. Finally, Allworth Financial LP lifted its position in Park Hotels & Resorts by 56.5% during the third quarter. Allworth Financial LP now owns 6,136 shares of the financial services provider’s stock valued at $68,000 after purchasing an additional 2,216 shares during the period. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on PK shares. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $12.00 target price on shares of Park Hotels & Resorts in a research report on Wednesday, May 13th. BMO Capital Markets restated a “market perform” rating and issued a $14.00 price target on shares of Park Hotels & Resorts in a research note on Friday, June 12th. Morgan Stanley lifted their price objective on Park Hotels & Resorts from $10.00 to $10.50 and gave the stock an “equal weight” rating in a report on Tuesday, May 12th. Truist Financial increased their target price on Park Hotels & Resorts from $12.00 to $13.00 and gave the company a “hold” rating in a report on Tuesday, May 26th. Finally, Weiss Ratings raised Park Hotels & Resorts from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, May 20th. One analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Park Hotels & Resorts has a consensus rating of “Reduce” and an average target price of $12.95.

Park Hotels & Resorts Trading Down 0.9%

Shares of PK stock opened at $14.18 on Wednesday. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.25 and a quick ratio of 1.25. The company has a market cap of $2.85 billion, a price-to-earnings ratio of -13.00, a PEG ratio of 1.92 and a beta of 1.33. Park Hotels & Resorts Inc. has a 1 year low of $9.84 and a 1 year high of $14.95. The firm has a fifty day moving average price of $12.93 and a 200-day moving average price of $11.68.

Park Hotels & Resorts (NYSE:PK) last released its earnings results on Thursday, April 30th. The financial services provider reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.33). Park Hotels & Resorts had a negative net margin of 8.49% and a negative return on equity of 6.71%. The company had revenue of $622.00 million for the quarter, compared to analysts’ expectations of $609.77 million. During the same quarter last year, the firm posted $0.46 earnings per share. Park Hotels & Resorts’s revenue for the quarter was down 1.3% on a year-over-year basis. Park Hotels & Resorts has set its FY 2026 guidance at 1.740-1.900 EPS. As a group, equities analysts predict that Park Hotels & Resorts Inc. will post 1.76 earnings per share for the current year.

Park Hotels & Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $1.00 annualized dividend and a dividend yield of 7.1%. Park Hotels & Resorts’s dividend payout ratio (DPR) is -91.74%.

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.