Bank of America Corp DE Sells 1,925,135 Shares of Park Hotels & Resorts Inc. $PK

Key Points

• Bank of America reduced its Park Hotels & Resorts stake by 15.3%, selling 1.93 million shares and retaining 10.62 million shares, or approximately 5.27% of PK.
• Institutional ownership remains high at 92.69%, with several major investors—including Sculptor Capital, AQR Capital and Millennium Management—recently increasing their positions.
• Analysts remain cautious, assigning PK an average “Reduce” rating and a consensus price target of $13.18, despite recent revenue and FFO beats and a quarterly dividend of $0.25 per share, yielding about 6.8%.

Bank of America Corp DE cut its stake in Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 15.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,619,530 shares of the financial services provider's stock after selling 1,925,135 shares during the period. Bank of America Corp DE owned approximately 5.27% of Park Hotels & Resorts worth $111,824,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Sculptor Capital LP boosted its position in Park Hotels & Resorts by 154.1% during the second quarter. Sculptor Capital LP now owns 6,534,153 shares of the financial services provider's stock valued at $66,844,000 after purchasing an additional 3,962,304 shares during the last quarter. AQR Capital Management LLC lifted its stake in Park Hotels & Resorts by 76.7% in the second quarter. AQR Capital Management LLC now owns 7,744,912 shares of the financial services provider's stock valued at $79,230,000 after acquiring an additional 3,361,382 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Park Hotels & Resorts in the 3rd quarter valued at about $20,905,000. Donald Smith & CO. Inc. grew its position in shares of Park Hotels & Resorts by 14.2% in the 4th quarter. Donald Smith & CO. Inc. now owns 14,617,921 shares of the financial services provider's stock valued at $152,903,000 after acquiring an additional 1,813,338 shares during the period. Finally, Millennium Management LLC increased its stake in shares of Park Hotels & Resorts by 2,306.4% during the 4th quarter. Millennium Management LLC now owns 1,176,980 shares of the financial services provider's stock worth $12,311,000 after purchasing an additional 1,128,070 shares during the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on PK shares. BMO Capital Markets reiterated a "market perform" rating and issued a $14.00 target price on shares of Park Hotels & Resorts in a research note on Friday, June 12th. Wells Fargo & Company upgraded Park Hotels & Resorts to a "hold" rating in a research note on Thursday, July 23rd. LADENBURG THALM/SH SH boosted their price objective on Park Hotels & Resorts from $16.00 to $20.00 and gave the stock a "buy" rating in a research report on Tuesday, June 16th. Morgan Stanley lifted their price target on shares of Park Hotels & Resorts from $10.50 to $11.00 and gave the stock an "equal weight" rating in a report on Friday, July 17th. Finally, JPMorgan Chase & Co. raised their price target on shares of Park Hotels & Resorts from $11.00 to $13.00 and gave the stock an "underweight" rating in a report on Tuesday, July 21st. One equities research analyst has rated the stock with a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Reduce" and a consensus target price of $13.18.

Key Stories Impacting Park Hotels & Resorts

Here are the key news stories impacting Park Hotels & Resorts this week:

• Positive Sentiment: Park Hotels reported second-quarter FFO of $0.70 per share, above the $0.62 consensus estimate and up from $0.64 a year earlier. Revenue of $680 million also exceeded expectations of approximately $659.7 million and increased 1.2% year over year. Park Hotels Q2 FFO and Revenues Beat Estimates
• Positive Sentiment: Management raised its 2026 outlook, including adjusted EBITDA of $617 million to $637 million and projected revenue per available room (RevPAR) growth of 3% to 4.5%. The company also set full-year EPS guidance at $1.90-$2.00, above the $1.76 analyst consensus. Park Hotels 2026 EBITDA and RevPAR Outlook
• Positive Sentiment: Park Hotels declared a quarterly dividend of $0.25 per share, equivalent to $1.00 annually and approximately a 7% yield based on the reported share price. The dividend may support investor interest in the hotel REIT, although the ex-dividend date is September 30.
• Neutral Sentiment: Recent commentary describes PK as potentially undervalued following its earnings beat and return to profitability, which could attract value-focused investors, but this remains an interpretation rather than a new company announcement. Is Park Hotels & Resorts Undervalued?
• Negative Sentiment: Despite the quarterly beat, Park Hotels still reported a negative net margin of 6.41% and negative return on equity of 5.18%, highlighting continued profitability and leverage risks.

Park Hotels & Resorts Stock Performance

NYSE:PK opened at $14.75 on Friday. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.27. Park Hotels & Resorts Inc. has a twelve month low of $9.84 and a twelve month high of $15.48. The company has a fifty day moving average of $14.48 and a 200-day moving average of $12.29. The firm has a market capitalization of $2.97 billion, a P/E ratio of -17.77, a P/E/G ratio of 1.90 and a beta of 1.34.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $0.24 earnings per share for the quarter, meeting the consensus estimate of $0.24. The firm had revenue of $680.00 million for the quarter, compared to analyst estimates of $659.68 million. Park Hotels & Resorts had a negative net margin of 6.41% and a negative return on equity of 5.18%. The business's quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.64 earnings per share. As a group, sell-side analysts anticipate that Park Hotels & Resorts Inc. will post 1.79 EPS for the current year.

Park Hotels & Resorts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be issued a dividend of $0.25 per share. The ex-dividend date is Wednesday, September 30th. This represents a $1.00 annualized dividend and a dividend yield of 6.8%. Park Hotels & Resorts's payout ratio is currently -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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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