ING Groep NV Sells 70,400 Shares of Park Hotels & Resorts Inc. $PK

ING Groep NV trimmed its holdings in Park Hotels & Resorts Inc. (NYSE:PK) by 21.0% during the fourth quarter, according to its most recent disclosure 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 owned about 0.13% of Park Hotels & Resorts worth $2,767,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Danske Bank A S bought a new position in shares of Park Hotels & Resorts in the third quarter valued at $25,000. Advisory Services Network LLC bought a new position in shares of Park Hotels & Resorts in the third quarter valued at $34,000. Clearstead Advisors LLC lifted its stake in shares of Park Hotels & Resorts by 326.4% in the third quarter. Clearstead Advisors LLC now owns 3,198 shares of the financial services provider’s stock valued at $35,000 after buying an additional 2,448 shares in the last quarter. Harbor Capital Advisors Inc. raised its holdings in shares of 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 last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of 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 last quarter. 92.69% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on PK. Wells Fargo & Company increased their target price on shares of Park Hotels & Resorts from $10.00 to $12.00 and gave the company an “equal weight” rating in a report on Monday, June 1st. Zacks Research upgraded shares of Park Hotels & Resorts from a “strong sell” rating to a “hold” rating in a report on Thursday, February 19th. Wall Street Zen upgraded shares of Park Hotels & Resorts from a “sell” rating to a “hold” rating in a report on Sunday, March 1st. Barclays increased their target price on shares of Park Hotels & Resorts from $9.00 to $12.00 and gave the company an “equal weight” rating in a report on Monday, June 1st. Finally, LADENBURG THALM/SH SH began coverage on shares of Park Hotels & Resorts in a report on Thursday, March 26th. They issued a “buy” rating and a $16.00 target price for the company. One investment analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $12.15.

Park Hotels & Resorts Stock Performance

NYSE PK opened at $14.16 on Wednesday. Park Hotels & Resorts Inc. has a 52-week low of $9.84 and a 52-week high of $14.54. The company has a 50-day simple moving average of $11.53 and a 200 day simple moving average of $11.15. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.25 and a current ratio of 1.25. The company has a market capitalization of $2.85 billion, a PE ratio of -12.99, a price-to-earnings-growth ratio of 1.93 and a beta of 1.37.

Park Hotels & Resorts (NYSE:PK) last posted its quarterly earnings data on Thursday, April 30th. The financial services provider reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $609.78 million. During the same quarter last year, the business posted $0.46 EPS. The business’s quarterly revenue 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. On average, research analysts predict that Park Hotels & Resorts Inc. will post 1.74 EPS for the current year.

Park Hotels & Resorts Dividend Announcement

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

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.