Peregrine Capital Management LLC reduced its holdings in Park Hotels & Resorts Inc. (NYSE:PK – Free Report) by 8.8% in the 1st quarter, Holdings Channel reports. The institutional investor owned 405,932 shares of the financial services provider’s stock after selling 39,195 shares during the quarter. Peregrine Capital Management LLC’s holdings in Park Hotels & Resorts were worth $4,274,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently modified their holdings of PK. Amundi raised its position in Park Hotels & Resorts by 1.9% in the first quarter. Amundi now owns 115,143 shares of the financial services provider’s stock worth $1,119,000 after acquiring an additional 2,179 shares in the last quarter. Millennium Management LLC grew its stake in shares of Park Hotels & Resorts by 849.3% during the 1st quarter. Millennium Management LLC now owns 523,851 shares of the financial services provider’s stock worth $5,595,000 after purchasing an additional 468,668 shares during the period. United Services Automobile Association acquired a new position in shares of Park Hotels & Resorts during the 1st quarter worth $152,000. Empowered Funds LLC increased its holdings in shares of Park Hotels & Resorts by 10.1% in the 1st quarter. Empowered Funds LLC now owns 22,380 shares of the financial services provider’s stock valued at $239,000 after purchasing an additional 2,058 shares in the last quarter. Finally, Focus Partners Wealth increased its holdings in shares of Park Hotels & Resorts by 30.6% in the 1st quarter. Focus Partners Wealth now owns 18,646 shares of the financial services provider’s stock valued at $199,000 after purchasing an additional 4,374 shares in the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
PK has been the topic of a number of research analyst reports. BMO Capital Markets reissued a “market perform” rating and set a $14.00 price objective on shares of Park Hotels & Resorts in a report on Friday, June 12th. Truist Financial increased their target price on shares of Park Hotels & Resorts from $12.00 to $13.00 and gave the company a “hold” rating in a report on Tuesday, May 26th. Morgan Stanley lifted their price target on shares of Park Hotels & Resorts from $10.00 to $10.50 and gave the company an “equal weight” rating in a research report on Tuesday, May 12th. LADENBURG THALM/SH SH boosted their price target on Park Hotels & Resorts from $16.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, June 16th. Finally, Wells Fargo & Company upped their price target on Park Hotels & Resorts from $12.00 to $15.00 and gave the stock an “equal weight” rating in a report on Thursday, June 18th. One investment analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Park Hotels & Resorts presently has an average rating of “Reduce” and an average target price of $12.95.
Park Hotels & Resorts Price Performance
Shares of NYSE PK opened at $14.41 on Friday. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.27. The company’s 50-day moving average price is $12.74 and its 200 day moving average price is $11.61. Park Hotels & Resorts Inc. has a 52 week low of $9.84 and a 52 week high of $14.95. The stock has a market cap of $2.90 billion, a price-to-earnings ratio of -13.22, a PEG ratio of 1.90 and a beta of 1.33.
Park Hotels & Resorts (NYSE:PK – Get Free Report) last announced its earnings results 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 business had revenue of $622.00 million for the quarter, compared to analyst estimates of $609.77 million. During the same quarter in the previous year, the firm posted $0.46 EPS. The business’s 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. As a group, research analysts forecast that Park Hotels & Resorts Inc. will post 1.76 earnings per share for the current fiscal year.
Park Hotels & Resorts Announces Dividend
The business 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. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $1.00 dividend on an annualized basis and a yield of 6.9%. Park Hotels & Resorts’s dividend payout ratio is presently -91.74%.
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.
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