Intech Investment Management LLC Reduces Holdings in Park Hotels & Resorts Inc. $PK

Intech Investment Management LLC decreased its position in Park Hotels & Resorts Inc. (NYSE:PK) by 47.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 85,437 shares of the financial services provider’s stock after selling 76,687 shares during the period. Intech Investment Management LLC’s holdings in Park Hotels & Resorts were worth $894,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in PK. Danske Bank A S purchased a new stake in shares of Park Hotels & Resorts in the 3rd quarter valued at approximately $25,000. Advisory Services Network LLC purchased a new stake in shares of Park Hotels & Resorts in the 3rd quarter valued at approximately $34,000. Clearstead Advisors LLC boosted its position in shares of Park Hotels & Resorts by 326.4% during the 3rd quarter. Clearstead Advisors LLC now owns 3,198 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 2,448 shares during the period. Harbor Capital Advisors Inc. boosted its position in shares of Park Hotels & Resorts by 293.1% during the 4th quarter. Harbor Capital Advisors Inc. now owns 5,181 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 3,863 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Park Hotels & Resorts by 33.4% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,844 shares of the financial services provider’s stock worth $61,000 after purchasing an additional 1,464 shares during the period. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PK. Truist Financial increased their price objective on shares of Park Hotels & Resorts from $12.00 to $13.00 and gave the stock a “hold” rating in a research report on Tuesday, May 26th. Wall Street Zen raised shares of Park Hotels & Resorts from a “sell” rating to a “hold” rating in a research report on Sunday, March 1st. Weiss Ratings raised shares of Park Hotels & Resorts from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, May 20th. LADENBURG THALM/SH SH began coverage on shares of Park Hotels & Resorts in a research report on Thursday, March 26th. They set a “buy” rating and a $16.00 price objective for the company. Finally, Morgan Stanley increased their price objective on shares of Park Hotels & Resorts from $10.00 to $10.50 and gave the stock an “equal weight” rating in a research report on Tuesday, May 12th. One analyst has rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price of $12.15.

Park Hotels & Resorts Price Performance

Park Hotels & Resorts stock opened at $14.10 on Monday. The firm has a market cap of $2.84 billion, a PE ratio of -12.93, a price-to-earnings-growth ratio of 1.92 and a beta of 1.37. Park Hotels & Resorts Inc. has a 52-week low of $9.84 and a 52-week high of $14.24. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.27. The company’s 50 day moving average is $11.39 and its two-hundred day moving average is $11.09.

Park Hotels & Resorts (NYSE:PK) last released its earnings results on Thursday, April 30th. The financial services provider reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.33). The business had revenue of $622.00 million for the quarter, compared to analyst estimates of $609.78 million. Park Hotels & Resorts had a negative return on equity of 6.71% and a negative net margin of 8.49%.Park Hotels & Resorts’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.46 earnings per share. Park Hotels & Resorts has set its FY 2026 guidance at 1.740-1.900 EPS. On average, research analysts expect that Park Hotels & Resorts Inc. will post 1.74 EPS for the current fiscal year.

Park Hotels & Resorts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be issued a dividend of $0.25 per share. The ex-dividend date is Tuesday, June 30th. This represents a $1.00 dividend on an annualized basis and a yield of 7.1%. Park Hotels & Resorts’s dividend payout ratio 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.