Park Hotels & Resorts Inc. $PK Stock: Sterling Capital Management LLC Grows Position

Sterling Capital Management LLC grew its holdings in Park Hotels & Resorts Inc. (NYSE:PK) by 13.3% in the third quarter, Holdings Channel.com reports. The institutional investor owned 286,395 shares of the financial services provider’s stock after acquiring an additional 33,539 shares during the quarter. Sterling Capital Management LLC’s holdings in Park Hotels & Resorts were worth $4,416,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Diversify Advisory Services LLC lifted its position in Park Hotels & Resorts by 44.5% during the 3rd quarter. Diversify Advisory Services LLC now owns 96,134 shares of the financial services provider’s stock worth $1,511,000 after acquiring an additional 29,587 shares during the period. IFP Advisors Inc increased its holdings in shares of Park Hotels & Resorts by 48.7% in the third quarter. IFP Advisors Inc now owns 7,534 shares of the financial services provider’s stock valued at $116,000 after purchasing an additional 2,469 shares during the period. NorthCrest Asset Manangement LLC acquired a new position in shares of Park Hotels & Resorts in the third quarter valued at approximately $160,000. Wedmont Private Capital purchased a new stake in shares of Park Hotels & Resorts during the third quarter worth approximately $179,000. Finally, Post Resch Tallon Group Inc. raised its stake in shares of Park Hotels & Resorts by 4.7% during the third quarter. Post Resch Tallon Group Inc. now owns 35,933 shares of the financial services provider’s stock worth $554,000 after purchasing an additional 1,615 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 equities research analysts recently weighed in on PK shares. BMO Capital Markets raised Park Hotels & Resorts from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $14.00 to $18.00 in a report on Tuesday, September 1st. Morgan Stanley boosted their price objective on shares of Park Hotels & Resorts from $11.00 to $13.00 and gave the company an “equal weight” rating in a research note on Monday, October 12th. Weiss Ratings upgraded shares of Park Hotels & Resorts from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday. JPMorgan Chase & Co. boosted their price target on shares of Park Hotels & Resorts from $14.00 to $16.00 and gave the stock an “underweight” rating in a research note on Wednesday. Finally, Wells Fargo & Company raised shares of Park Hotels & Resorts to a “hold” rating in a report on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Park Hotels & Resorts currently has an average rating of “Hold” and a consensus price target of $16.09.

Park Hotels & Resorts Stock Down 1.9%

PK opened at $16.34 on Friday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.53 and a current ratio of 1.53. The company has a market cap of $3.29 billion, a price-to-earnings ratio of -19.69 and a beta of 1.36. Park Hotels & Resorts Inc. has a one year low of $9.84 and a one year high of $17.14. The business’s fifty day moving average is $15.52 and its two-hundred day moving average is $14.00.

Park Hotels & Resorts (NYSE:PK) last issued its quarterly earnings data on Thursday, August 6th. The financial services provider reported $0.24 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.24. The business had revenue of $680.00 million during the quarter, compared to analysts’ expectations of $659.68 million. Park Hotels & Resorts had a negative net margin of 6.41% and a negative return on equity of 5.23%. The company’s revenue was up 1.2% on a year-over-year basis. During the same period last year, the company posted $0.64 EPS. Park Hotels & Resorts has set its FY 2026 guidance at 1.900-2.000 EPS. Analysts anticipate that Park Hotels & Resorts Inc. will post 1.87 EPS for the current fiscal year.

Park Hotels & Resorts Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 6.1%. The ex-dividend date of this dividend was Wednesday, September 30th. Park Hotels & Resorts’s payout ratio is -120.48%.

About Park Hotels & Resorts

Park Hotels & Resorts Inc (NYSE: PK) is a real estate investment trust focused on owning and operating hotels and resorts. The company’s portfolio includes full-service properties in major business and leisure destinations, with hotels operating under Hilton brands as well as other nationally recognized and independent brands.

Park’s properties provide lodging, food and beverage, meeting and event facilities, and other hospitality services. Its hotels are located primarily in the United States, including gateway cities, convention markets, and resort destinations.

Park Hotels & Resorts was formed in 2017 through a spin-off from Hilton Worldwide Holdings.