Sumitomo Mitsui Trust Group Inc. Has $2.25 Million Stock Position in Park Hotels & Resorts Inc. $PK

Sumitomo Mitsui Trust Group Inc. cut its stake in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 2.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 220,271 shares of the financial services provider’s stock after selling 6,387 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Park Hotels & Resorts were worth $2,253,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. IFM Investors Pty Ltd grew its stake in shares of Park Hotels & Resorts by 2.2% during the first quarter. IFM Investors Pty Ltd now owns 48,266 shares of the financial services provider’s stock worth $515,000 after purchasing an additional 1,043 shares during the period. Mackenzie Financial Corp grew its stake in shares of Park Hotels & Resorts by 10.6% during the first quarter. Mackenzie Financial Corp now owns 12,905 shares of the financial services provider’s stock worth $138,000 after purchasing an additional 1,239 shares during the period. Vident Advisory LLC grew its stake in shares of Park Hotels & Resorts by 11.2% during the first quarter. Vident Advisory LLC now owns 13,153 shares of the financial services provider’s stock worth $140,000 after purchasing an additional 1,325 shares during the period. EntryPoint Capital LLC grew its stake in shares of Park Hotels & Resorts by 7.4% during the first quarter. EntryPoint Capital LLC now owns 19,889 shares of the financial services provider’s stock worth $212,000 after purchasing an additional 1,367 shares during the period. Finally, Cetera Investment Advisers grew its stake in shares of Park Hotels & Resorts by 10.7% during the first quarter. Cetera Investment Advisers now owns 14,999 shares of the financial services provider’s stock worth $160,000 after purchasing an additional 1,455 shares during the period. 92.69% of the stock is owned by institutional investors and hedge funds.

Park Hotels & Resorts Stock Performance

PK opened at $10.72 on Friday. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.16 and a current ratio of 1.16. The business’s 50-day simple moving average is $11.42 and its 200 day simple moving average is $10.82. The firm has a market capitalization of $2.14 billion, a PE ratio of 39.71 and a beta of 1.83. Park Hotels & Resorts Inc. has a 52-week low of $8.27 and a 52-week high of $16.23.

Park Hotels & Resorts (NYSE:PK) last released its quarterly earnings data on Thursday, October 30th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.08). The business had revenue of $610.00 million during the quarter, compared to the consensus estimate of $617.05 million. Park Hotels & Resorts had a net margin of 2.25% and a return on equity of 0.76%. Park Hotels & Resorts’s quarterly revenue was down 6.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.49 EPS. Park Hotels & Resorts has set its FY 2025 guidance at 1.850-1.970 EPS. As a group, sell-side analysts expect that Park Hotels & Resorts Inc. will post 2.11 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. UBS Group lifted their price objective on Park Hotels & Resorts from $10.00 to $11.00 and gave the stock a “neutral” rating in a research note on Monday, October 6th. Wall Street Zen cut Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research note on Friday, July 18th. Weiss Ratings reissued a “hold (c)” rating on shares of Park Hotels & Resorts in a research note on Wednesday, October 8th. Morgan Stanley reissued an “outperform” rating on shares of Park Hotels & Resorts in a research note on Tuesday, July 15th. Finally, Citigroup cut Park Hotels & Resorts from a “buy” rating to a “neutral” rating and decreased their target price for the company from $13.00 to $12.00 in a research note on Tuesday, September 9th. One research analyst has rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus price target of $11.20.

Park Hotels & Resorts Company Profile

Park Hotels & Resorts, Inc operates as a real estate investment trust, which owns and operates hotels and resorts. It operates through the Consolidated Hotels and Unconsolidated Hotels segments. Its portfolio of hotels and resorts include the Waldorf Astoria Hotels and Resorts, Conrad Hotels & Resorts, Hilton Hotels & Resorts, DoubleTree by Hilton, Embassy Suites by Hilton, Hilton Garden Inn, Hampton by Hilton, and Curio.