Diversify Wealth Management LLC Takes Position in Park Hotels & Resorts Inc. $PK

Diversify Wealth Management LLC bought a new position in shares of Park Hotels & Resorts Inc. (NYSE:PK) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 58,420 shares of the financial services provider’s stock, valued at approximately $662,000.

Other institutional investors have also modified their holdings of the company. Danske Bank A S purchased a new stake in Park Hotels & Resorts in the 3rd quarter valued at $25,000. Fifth Third Bancorp grew its position in Park Hotels & Resorts by 68.8% during the 1st quarter. Fifth Third Bancorp now owns 2,604 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 1,061 shares during the last quarter. Advisory Services Network LLC purchased a new position in Park Hotels & Resorts during the 3rd quarter worth $34,000. Harbor Capital Advisors Inc. increased its stake 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 stake in 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 purchasing an additional 1,464 shares during the period. 92.69% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PK has been the subject of several recent research reports. Morgan Stanley increased 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 note on Tuesday, May 12th. Barclays boosted their price target on Park Hotels & Resorts from $9.00 to $12.00 and gave the company an “equal weight” rating in a research report on Monday, June 1st. Truist Financial increased their price objective 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. LADENBURG THALM/SH SH increased their price objective on Park Hotels & Resorts from $16.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, June 16th. Finally, Weiss Ratings upgraded Park Hotels & Resorts from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, May 20th. One research analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price of $12.95.

Park Hotels & Resorts Price Performance

Shares of NYSE:PK opened at $14.62 on Friday. 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 $2.94 billion, a P/E ratio of -13.41, a PEG ratio of 1.95 and a beta of 1.33. Park Hotels & Resorts Inc. has a 52 week low of $9.84 and a 52 week high of $14.95. The company has a 50-day moving average price of $13.34 and a 200 day moving average price of $11.85.

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 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 business had revenue of $622.00 million for the quarter, compared to analyst estimates of $609.77 million. During the same quarter in the previous year, the firm posted $0.46 EPS. The business’s revenue for the quarter was down 1.3% on a year-over-year basis. Park Hotels & Resorts has set its FY 2026 guidance at 1.740-1.900 EPS. Research analysts predict that Park Hotels & Resorts Inc. will post 1.76 earnings per share for the current year.

Park Hotels & Resorts Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a $0.25 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.8%. Park Hotels & Resorts’s 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.