Park Hotels & Resorts Inc. $PK Shares Acquired by M&T Bank Corp

M&T Bank Corp grew its holdings in Park Hotels & Resorts Inc. (NYSE:PK) by 487.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 73,271 shares of the financial services provider’s stock after purchasing an additional 60,797 shares during the quarter. M&T Bank Corp’s holdings in Park Hotels & Resorts were worth $766,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of PK. Amundi grew its position in shares of Park Hotels & Resorts by 1.9% in the first quarter. Amundi now owns 115,143 shares of the financial services provider’s stock valued at $1,119,000 after purchasing an additional 2,179 shares during the last quarter. Millennium Management LLC boosted its position in Park Hotels & Resorts by 849.3% during the first quarter. Millennium Management LLC now owns 523,851 shares of the financial services provider’s stock worth $5,595,000 after acquiring an additional 468,668 shares during the last quarter. United Services Automobile Association acquired a new stake in Park Hotels & Resorts during the first quarter worth approximately $152,000. Empowered Funds LLC boosted its position in Park Hotels & Resorts by 10.1% during the first quarter. Empowered Funds LLC now owns 22,380 shares of the financial services provider’s stock worth $239,000 after acquiring an additional 2,058 shares during the last quarter. Finally, Focus Partners Wealth boosted its position in Park Hotels & Resorts by 30.6% during the first quarter. Focus Partners Wealth now owns 18,646 shares of the financial services provider’s stock worth $199,000 after acquiring an additional 4,374 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Park Hotels & Resorts Stock Performance

NYSE:PK opened at $11.03 on Tuesday. 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 has a market cap of $2.22 billion, a P/E ratio of -10.12, a P/E/G ratio of 1.54 and a beta of 1.37. Park Hotels & Resorts Inc. has a fifty-two week low of $9.84 and a fifty-two week high of $12.39. The firm’s 50 day moving average is $10.91 and its two-hundred day moving average is $10.91.

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 for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.33). The company had revenue of $622.00 million for the quarter, compared to analysts’ expectations of $609.78 million. Park Hotels & Resorts had a negative return on equity of 6.71% and a negative net margin of 8.49%.The business’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.46 EPS. Park Hotels & Resorts has set its FY 2026 guidance at 1.740-1.900 EPS. Analysts expect that Park Hotels & Resorts Inc. will post 1.74 EPS for the current year.

Park Hotels & Resorts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $1.00 dividend on an annualized basis and a yield of 9.1%. Park Hotels & Resorts’s dividend payout ratio (DPR) is currently -91.74%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on PK shares. Wall Street Zen upgraded shares of Park Hotels & Resorts from a “sell” rating to a “hold” rating in a research report on Sunday, March 1st. Weiss Ratings lowered shares of Park Hotels & Resorts from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday, May 6th. Cantor Fitzgerald raised their target price on shares of Park Hotels & Resorts from $11.00 to $12.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 3rd. Morgan Stanley set a $10.00 target price on shares of Park Hotels & Resorts in a research report on Friday, January 16th. Finally, Zacks Research upgraded shares of Park Hotels & Resorts from a “strong sell” rating to a “hold” rating in a research report on Thursday, February 19th. Two analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Park Hotels & Resorts currently has an average rating of “Hold” and an average price target of $11.50.

Park Hotels & Resorts Company 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.