Cbre Investment Management Listed Real Assets LLC Trims Position in Park Hotels & Resorts Inc. $PK

Key Points

• CBRE Investment Management cut its stake in Park Hotels & Resorts by 44.9% in the fourth quarter, leaving it with 800,659 shares valued at about $8.38 million.
• Park Hotels & Resorts reported Q1 earnings of $0.05 per share, well below the $0.38 analysts expected, though revenue of $622 million came in slightly above forecasts.
• The company declared a quarterly dividend of $0.25 per share, implying an annualized yield of 7.7%, while analysts currently hold a cautious view with a consensus rating of “Reduce” and an average price target of $12.15.

Cbre Investment Management Listed Real Assets LLC lessened its stake in Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 44.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 800,659 shares of the financial services provider's stock after selling 651,217 shares during the period. Cbre Investment Management Listed Real Assets LLC owned 0.40% of Park Hotels & Resorts worth $8,375,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Bank of America Corp DE increased its stake in Park Hotels & Resorts by 1.6% in the 3rd quarter. Bank of America Corp DE now owns 13,074,474 shares of the financial services provider's stock worth $144,865,000 after buying an additional 203,922 shares during the period. AQR Capital Management LLC increased its stake in Park Hotels & Resorts by 76.7% in the 2nd quarter. AQR Capital Management LLC now owns 7,744,912 shares of the financial services provider's stock worth $79,230,000 after buying an additional 3,361,382 shares during the period. Sculptor Capital LP increased its stake in Park Hotels & Resorts by 154.1% in the 2nd quarter. Sculptor Capital LP now owns 6,534,153 shares of the financial services provider's stock worth $66,844,000 after buying an additional 3,962,304 shares during the period. Allianz Asset Management GmbH increased its stake in Park Hotels & Resorts by 29.9% in the 3rd quarter. Allianz Asset Management GmbH now owns 4,447,474 shares of the financial services provider's stock worth $49,278,000 after buying an additional 1,023,400 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in Park Hotels & Resorts by 21.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,634,643 shares of the financial services provider's stock worth $40,272,000 after buying an additional 636,049 shares during the period. Hedge funds and other institutional investors own 92.69% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently commented on PK shares. Wall Street Zen raised shares of Park Hotels & Resorts from a "sell" rating to a "hold" rating in a research note on Sunday, March 1st. Morgan Stanley raised their price target on shares of Park Hotels & Resorts from $10.00 to $10.50 and gave the stock an "equal weight" rating in a research note on Tuesday, May 12th. LADENBURG THALM/SH SH began coverage on shares of Park Hotels & Resorts in a research note on Thursday, March 26th. They issued a "buy" rating and a $16.00 price target on the stock. Cantor Fitzgerald reiterated a "neutral" rating and set a $12.00 target price on shares of Park Hotels & Resorts in a report on Wednesday, May 13th. Finally, Wells Fargo & Company increased their target price on shares of Park Hotels & Resorts from $10.00 to $12.00 and gave the stock an "equal weight" rating in a report on Monday. One equities research analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, Park Hotels & Resorts presently has an average rating of "Reduce" and a consensus price target of $12.15.

Park Hotels & Resorts Stock Up 6.4%

NYSE:PK opened at $12.91 on Tuesday. Park Hotels & Resorts Inc. has a fifty-two week low of $9.84 and a fifty-two week high of $12.98. The stock has a market capitalization of $2.60 billion, a P/E ratio of -11.84, a P/E/G ratio of 1.66 and a beta of 1.37. 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's 50-day simple moving average is $11.12 and its 200-day simple moving average is $11.00.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The financial services provider reported $0.05 earnings per share for the quarter, missing analysts' consensus estimates of $0.38 by ($0.33). The firm had revenue of $622.00 million during the quarter, compared to the consensus estimate of $609.78 million. Park Hotels & Resorts had a negative net margin of 8.49% and a negative return on equity of 6.71%. The firm's quarterly revenue was down 1.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.46 earnings per share. Park Hotels & Resorts has set its FY 2026 guidance at 1.740-1.900 EPS. On average, equities analysts anticipate that Park Hotels & Resorts Inc. will post 1.74 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 is Tuesday, June 30th. This represents a $1.00 dividend on an annualized basis and a yield of 7.7%. Park Hotels & Resorts's dividend payout ratio (DPR) 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.

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