Advisors Asset Management Inc. Grows Position in Park Hotels & Resorts Inc. $PK

Key Points

• Advisors Asset Management Inc. increased its stake in Park Hotels & Resorts by 47.2% during the first quarter, now owning approximately 0.06% of the company with a value of $1.35 million.
• Wall Street analysts have lowered their ratings on Park Hotels & Resorts, with multiple firms adjusting their price targets, resulting in an average rating of "Hold" and a consensus price target of $12.20.
• Park Hotels & Resorts announced a quarterly dividend of $0.25 per share, reflecting an annualized dividend yield of 8.3%, despite a high dividend payout ratio of 370.37%.

Advisors Asset Management Inc. lifted its position in Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 47.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 126,739 shares of the financial services provider's stock after acquiring an additional 40,666 shares during the period. Advisors Asset Management Inc. owned 0.06% of Park Hotels & Resorts worth $1,354,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. UMB Bank n.a. raised its position in shares of Park Hotels & Resorts by 140.9% in the 1st quarter. UMB Bank n.a. now owns 2,385 shares of the financial services provider's stock worth $25,000 after acquiring an additional 1,395 shares in the last quarter. Versant Capital Management Inc increased its position in Park Hotels & Resorts by 11,039.1% during the 1st quarter. Versant Capital Management Inc now owns 2,562 shares of the financial services provider's stock valued at $27,000 after buying an additional 2,539 shares in the last quarter. GF Fund Management CO. LTD. bought a new position in Park Hotels & Resorts during the 4th quarter valued at approximately $53,000. GAMMA Investing LLC increased its position in Park Hotels & Resorts by 401.2% during the 1st quarter. GAMMA Investing LLC now owns 5,283 shares of the financial services provider's stock valued at $56,000 after buying an additional 4,229 shares in the last quarter. Finally, Quarry LP increased its position in Park Hotels & Resorts by 186.6% during the 1st quarter. Quarry LP now owns 7,170 shares of the financial services provider's stock valued at $77,000 after buying an additional 4,668 shares in the last quarter. Institutional investors own 92.69% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on PK shares. Truist Financial lowered Park Hotels & Resorts from a "buy" rating to a "hold" rating and reduced their price objective for the company from $16.00 to $11.00 in a research report on Friday, May 30th. Citigroup lowered Park Hotels & Resorts from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $13.00 to $12.00 in a research report on Tuesday. Morgan Stanley reaffirmed an "outperform" rating on shares of Park Hotels & Resorts in a research report on Tuesday, July 15th. Evercore ISI lowered Park Hotels & Resorts from an "outperform" rating to an "in-line" rating and set a $13.00 price objective for the company. in a research report on Friday, May 16th. Finally, Wall Street Zen lowered Park Hotels & Resorts from a "hold" rating to a "sell" rating in a report on Friday, July 18th. Two investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $12.20.

Park Hotels & Resorts Stock Performance

Shares of PK stock traded down $0.05 on Friday, reaching $11.96. The stock had a trading volume of 2,887,553 shares, compared to its average volume of 3,097,609. The stock has a market cap of $2.39 billion, a P/E ratio of 44.28 and a beta of 1.80. Park Hotels & Resorts Inc. has a 1 year low of $8.27 and a 1 year high of $16.23. 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 company has a 50 day simple moving average of $11.17 and a 200 day simple moving average of $10.76.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.57 by $0.07. The firm had revenue of $672.00 million for the quarter, compared to the consensus estimate of $672.37 million. Park Hotels & Resorts had a return on equity of 0.76% and a net margin of 2.25%.The company's revenue for the quarter was down 2.0% on a year-over-year basis. During the same period last year, the business posted $0.65 EPS. Park Hotels & Resorts has set its FY 2025 guidance at 1.820-2.080 EPS. Equities research analysts expect that Park Hotels & Resorts Inc. will post 2.11 EPS for the current year.

Park Hotels & Resorts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, September 30th. This represents a $1.00 annualized dividend and a yield of 8.4%. Park Hotels & Resorts's payout ratio is 370.37%.

About Park Hotels & Resorts

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.