Park Hotels & Resorts Inc. $PK Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D decreased its position in Park Hotels & Resorts Inc. (NYSE:PK) by 43.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 65,000 shares of the financial services provider’s stock after selling 50,000 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Park Hotels & Resorts were worth $680,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Danske Bank A S acquired a new stake in shares of Park Hotels & Resorts during the 3rd quarter valued at about $25,000. Advisory Services Network LLC purchased a new position in Park Hotels & Resorts during the third quarter worth approximately $34,000. Clearstead Advisors LLC boosted its position in Park Hotels & Resorts by 326.4% during the third 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 in the last quarter. Harbor Capital Advisors Inc. grew its holdings in Park Hotels & Resorts by 293.1% in 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 period. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of Park Hotels & Resorts by 33.4% in 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 buying an additional 1,464 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Wall Street Analyst Weigh In

PK has been the subject of several research analyst reports. JPMorgan Chase & Co. upped their target price on Park Hotels & Resorts from $10.00 to $11.00 and gave the stock an “underweight” rating in a research note on Tuesday, February 3rd. Barclays reissued an “equal weight” rating and issued a $9.00 price target (down from $13.00) on shares of Park Hotels & Resorts in a report on Tuesday, April 7th. LADENBURG THALM/SH SH began coverage on shares of Park Hotels & Resorts in a report on Thursday, March 26th. They set a “buy” rating and a $16.00 price objective on the stock. 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. Finally, Morgan Stanley set a $10.00 target price on shares of Park Hotels & Resorts in a research note on Friday, January 16th. Two investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $11.50.

Park Hotels & Resorts Price Performance

Park Hotels & Resorts stock opened at $11.03 on Tuesday. The company has a fifty day simple moving average of $10.91 and a 200-day simple moving average of $10.91. The firm has a market capitalization of $2.22 billion, a price-to-earnings ratio of -10.12, a PEG ratio of 1.54 and a beta of 1.37. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.27. Park Hotels & Resorts Inc. has a 52-week low of $9.84 and a 52-week high of $12.39.

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). Park Hotels & Resorts had a negative return on equity of 6.71% and a negative net margin of 8.49%.The business had revenue of $622.00 million for the quarter, compared to analyst estimates of $609.78 million. During the same quarter in the previous year, the firm posted $0.46 earnings per share. The business’s revenue was down 1.3% compared to the same quarter last year. Park Hotels & Resorts has set its FY 2026 guidance at 1.740-1.900 EPS. On average, equities analysts anticipate that Park Hotels & Resorts Inc. will post 1.74 EPS for the current fiscal year.

Park Hotels & Resorts Announces Dividend

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

About Park Hotels & Resorts

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.