ING Groep NV Trims Stock Position in Park Hotels & Resorts Inc. $PK

ING Groep NV lowered its position in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 21.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 264,500 shares of the financial services provider’s stock after selling 70,400 shares during the period. ING Groep NV’s holdings in Park Hotels & Resorts were worth $2,767,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. California State Teachers Retirement System lifted its position in Park Hotels & Resorts by 0.5% during the second quarter. California State Teachers Retirement System now owns 192,452 shares of the financial services provider’s stock valued at $1,969,000 after purchasing an additional 968 shares during the last quarter. Advisors Asset Management Inc. lifted its position in Park Hotels & Resorts by 0.8% during the third quarter. Advisors Asset Management Inc. now owns 125,051 shares of the financial services provider’s stock valued at $1,386,000 after purchasing an additional 1,038 shares during the last quarter. Optas LLC lifted its position in Park Hotels & Resorts by 12.8% during the fourth quarter. Optas LLC now owns 11,389 shares of the financial services provider’s stock valued at $119,000 after purchasing an additional 1,295 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Park Hotels & Resorts by 33.4% during 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 last quarter. Finally, Jones Financial Companies Lllp lifted its position in Park Hotels & Resorts by 16.7% during the third quarter. Jones Financial Companies Lllp now owns 12,239 shares of the financial services provider’s stock valued at $141,000 after purchasing an additional 1,748 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Park Hotels & Resorts Trading Up 0.3%

Shares of PK opened at $14.16 on Wednesday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.25 and a current ratio of 1.25. Park Hotels & Resorts Inc. has a fifty-two week low of $9.84 and a fifty-two week high of $14.54. The firm has a 50 day moving average price of $11.53 and a 200-day moving average price of $11.15. The firm has a market cap of $2.85 billion, a price-to-earnings ratio of -12.99, a PEG ratio of 1.93 and a beta of 1.37.

Park Hotels & Resorts (NYSE:PK) last issued its earnings results on Thursday, April 30th. The financial services provider reported $0.05 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 firm had revenue of $622.00 million during the quarter, compared to analysts’ expectations of $609.78 million. During the same period in the previous year, the firm earned $0.46 earnings per share. The firm’s quarterly 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. As a group, equities research analysts forecast that Park Hotels & Resorts Inc. will post 1.74 earnings per share for the current year.

Park Hotels & Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 7.1%. The ex-dividend date of this dividend is Tuesday, June 30th. Park Hotels & Resorts’s payout ratio is presently -91.74%.

Analysts Set New Price Targets

PK has been the subject of a number of recent research reports. Weiss Ratings upgraded shares of Park Hotels & Resorts from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, May 20th. Morgan Stanley boosted their price objective on shares of Park Hotels & Resorts from $10.00 to $10.50 and gave the stock an “equal weight” rating in a report on Tuesday, May 12th. LADENBURG THALM/SH SH initiated coverage on shares of Park Hotels & Resorts in a report on Thursday, March 26th. They issued a “buy” rating and a $16.00 price objective for the company. Barclays boosted their price objective on shares of Park Hotels & Resorts from $9.00 to $12.00 and gave the stock an “equal weight” rating in a report on Monday, June 1st. Finally, Truist Financial boosted their price objective on shares of Park Hotels & Resorts from $12.00 to $13.00 and gave the stock a “hold” rating in a report on Tuesday, May 26th. One equities research analyst has rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $12.15.

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.