Vanguard Group Inc. Acquires 56,217 Shares of Park Hotels & Resorts Inc. $PK

Vanguard Group Inc. grew its holdings in Park Hotels & Resorts Inc. (NYSE:PK) by 0.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 25,769,589 shares of the financial services provider’s stock after purchasing an additional 56,217 shares during the quarter. Vanguard Group Inc. owned approximately 12.89% of Park Hotels & Resorts worth $269,550,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of PK. Danske Bank A S bought a new position in shares of Park Hotels & Resorts in the 3rd quarter valued at about $25,000. Advisory Services Network LLC acquired a new stake in shares of Park Hotels & Resorts in the 3rd quarter valued at approximately $34,000. Clearstead Advisors LLC raised its position in shares of Park Hotels & Resorts by 326.4% in the 3rd quarter. Clearstead Advisors LLC now owns 3,198 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 2,448 shares during the period. Harbor Capital Advisors Inc. raised 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 acquiring an additional 3,863 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of Park Hotels & Resorts by 33.4% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,844 shares of the financial services provider’s stock valued at $61,000 after acquiring an additional 1,464 shares during the period. Institutional investors own 92.69% of the company’s stock.

Park Hotels & Resorts Stock Performance

Shares of PK stock opened at $11.34 on Friday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.34 and a current ratio of 1.25. The company has a market capitalization of $2.28 billion, a P/E ratio of -10.40, a price-to-earnings-growth ratio of 1.53 and a beta of 1.37. The company’s 50 day moving average price is $10.92 and its two-hundred day moving average price is $10.91. 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 announced 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). The company had revenue of $622.00 million for the quarter, compared to analyst estimates of $609.78 million. Park Hotels & Resorts had a negative return on equity of 6.71% and a negative net margin of 8.49%.The business’s quarterly revenue was down 1.3% on a year-over-year basis. During the same quarter last year, the business posted $0.46 earnings per share. Park Hotels & Resorts has set its FY 2026 guidance at 1.740-1.900 EPS. On average, analysts expect that Park Hotels & Resorts Inc. will post 1.74 earnings per share for the current fiscal year.

Park Hotels & Resorts Announces Dividend

The firm also recently disclosed 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 is Tuesday, June 30th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.8%. Park Hotels & Resorts’s dividend payout ratio (DPR) is -91.74%.

Analyst Upgrades and Downgrades

PK has been the topic of a number of analyst reports. Truist Financial increased their price target on shares of Park Hotels & Resorts from $11.00 to $12.00 and gave the company a “hold” rating in a research report on Thursday, March 26th. Zacks Research upgraded shares of Park Hotels & Resorts from a “strong sell” rating to a “hold” rating in a report on Thursday, February 19th. Weiss Ratings downgraded shares of Park Hotels & Resorts from a “sell (d+)” rating to a “sell (d)” rating in a report on Wednesday. Barclays restated an “equal weight” rating and set a $9.00 target price (down from $13.00) on shares of Park Hotels & Resorts in a report on Tuesday, April 7th. Finally, LADENBURG THALM/SH SH initiated coverage on shares of Park Hotels & Resorts in a report on Thursday, March 26th. They set a “buy” rating and a $16.00 target price on the stock. Two investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $11.50.

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.