Vanguard Group Inc. Has $269.55 Million Stock Position in Park Hotels & Resorts Inc. $PK

Vanguard Group Inc. lifted its position in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 0.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 25,769,589 shares of the financial services provider’s stock after acquiring an additional 56,217 shares during the period. Vanguard Group Inc. owned approximately 0.13% of Park Hotels & Resorts worth $269,550,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Bank of America Corp DE raised its stake in Park Hotels & Resorts by 1.6% in the third quarter. Bank of America Corp DE now owns 13,074,474 shares of the financial services provider’s stock valued at $144,865,000 after purchasing an additional 203,922 shares in the last quarter. AQR Capital Management LLC raised its stake in Park Hotels & Resorts by 76.7% during the second quarter. AQR Capital Management LLC now owns 7,744,912 shares of the financial services provider’s stock worth $79,230,000 after acquiring an additional 3,361,382 shares in the last quarter. Sculptor Capital LP raised its stake in Park Hotels & Resorts by 154.1% during the second quarter. Sculptor Capital LP now owns 6,534,153 shares of the financial services provider’s stock worth $66,844,000 after acquiring an additional 3,962,304 shares in the last quarter. Allianz Asset Management GmbH raised its stake in Park Hotels & Resorts by 29.9% during the third quarter. Allianz Asset Management GmbH now owns 4,447,474 shares of the financial services provider’s stock worth $49,278,000 after acquiring an additional 1,023,400 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Park Hotels & Resorts by 21.2% during the third quarter. JPMorgan Chase & Co. now owns 3,634,643 shares of the financial services provider’s stock worth $40,272,000 after acquiring an additional 636,049 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Park Hotels & Resorts Price Performance

Park Hotels & Resorts stock opened at $11.34 on Friday. The stock has a market capitalization of $2.28 billion, a price-to-earnings ratio of -10.40, a PEG ratio of 1.53 and a beta of 1.37. Park Hotels & Resorts Inc. has a 52-week low of $9.84 and a 52-week high of $12.39. The stock’s 50 day moving average price is $10.92 and its two-hundred day moving average price is $10.91. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.34 and a current ratio of 1.25.

Park Hotels & Resorts (NYSE:PK) last posted its quarterly 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 the consensus estimate 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% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.46 earnings per share. Park Hotels & Resorts has set its FY 2026 guidance at 1.740-1.900 EPS. On average, equities analysts predict that Park Hotels & Resorts Inc. will post 1.74 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 Wednesday, July 15th. Shareholders of record on Tuesday, June 30th 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 8.8%. The ex-dividend date is Tuesday, June 30th. Park Hotels & Resorts’s dividend payout ratio is presently -91.74%.

Wall Street Analyst Weigh In

Several research analysts have commented on PK shares. Weiss Ratings downgraded Park Hotels & Resorts from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday. Wall Street Zen raised Park Hotels & Resorts from a “sell” rating to a “hold” rating in a research note on Sunday, March 1st. Wells Fargo & Company lowered their price objective on Park Hotels & Resorts from $11.00 to $10.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 24th. Truist Financial upped their target price on Park Hotels & Resorts from $11.00 to $12.00 and gave the company a “hold” rating in a report on Thursday, March 26th. Finally, JPMorgan Chase & Co. increased their price target on Park Hotels & Resorts from $10.00 to $11.00 and gave the stock an “underweight” rating in a report on Tuesday, February 3rd. Two research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $11.50.

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.