Peregrine Capital Management LLC Trims Stock Position in Park Hotels & Resorts Inc. $PK

Peregrine Capital Management LLC lessened its stake in Park Hotels & Resorts Inc. (NYSE:PK) by 8.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 405,932 shares of the financial services provider’s stock after selling 39,195 shares during the period. Peregrine Capital Management LLC owned 0.20% of Park Hotels & Resorts worth $4,274,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. Danske Bank A S acquired a new stake in shares of Park Hotels & Resorts during the third quarter worth about $25,000. Advisory Services Network LLC acquired a new stake in shares of Park Hotels & Resorts in the 3rd quarter valued at about $34,000. Harbor Capital Advisors Inc. boosted its position in shares of Park Hotels & Resorts by 293.1% in the 4th 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. Mirae Asset Global Investments Co. Ltd. grew its stake in 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 buying an additional 1,464 shares during the last quarter. Finally, North Star Investment Management Corp. grew its stake in Park Hotels & Resorts by 263.2% during the 1st quarter. North Star Investment Management Corp. now owns 6,210 shares of the financial services provider’s stock worth $65,000 after buying an additional 4,500 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on PK shares. Truist Financial lifted their price target on Park Hotels & Resorts from $12.00 to $13.00 and gave the stock a “hold” rating in a research report on Tuesday, May 26th. Wells Fargo & Company raised their target price on shares of Park Hotels & Resorts from $12.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Thursday, June 18th. Morgan Stanley raised their target price 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. LADENBURG THALM/SH SH lifted their target price on shares of Park Hotels & Resorts from $16.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, June 16th. Finally, BMO Capital Markets reiterated a “market perform” rating and issued a $14.00 price target on shares of Park Hotels & Resorts in a research report on Friday, June 12th. One analyst has rated the stock with a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $12.95.

Park Hotels & Resorts Trading Up 1.7%

Shares of PK stock opened at $14.41 on Friday. The company has a market capitalization of $2.90 billion, a P/E ratio of -13.22, a price-to-earnings-growth ratio of 1.90 and a beta of 1.33. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.27. The business’s 50 day moving average is $12.74 and its two-hundred day moving average is $11.61. Park Hotels & Resorts Inc. has a twelve month low of $9.84 and a twelve month high of $14.95.

Park Hotels & Resorts (NYSE:PK) last issued its quarterly 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 return on equity of 6.71% and a negative net margin of 8.49%.The company had revenue of $622.00 million for the quarter, compared to analyst estimates of $609.77 million. During the same period in the prior year, the business earned $0.46 earnings per share. Park Hotels & Resorts’s revenue for the quarter 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. Equities analysts forecast that Park Hotels & Resorts Inc. will post 1.76 EPS for the current year.

Park Hotels & Resorts Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be issued 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 6.9%. Park Hotels & Resorts’s payout ratio is presently -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.