Fideuram Intesa Sanpaolo Private Banking S.P.A. Takes Position in Park Hotels & Resorts Inc. $PK

Key Points

• Fideuram Intesa Sanpaolo Private Banking S.P.A. disclosed a new first-quarter stake in Park Hotels & Resorts, buying 307,008 shares valued at about $3.23 million. The position represented roughly 0.15% of the company.
• Park Hotels & Resorts reported mixed quarterly results, with earnings of $0.05 per share missing expectations by a wide margin, while revenue of $622 million slightly beat estimates. The company also posted negative margins and a negative return on equity.
• The company declared a quarterly dividend of $0.25 per share, equal to an annualized yield of about 6.9%. Analysts currently have a cautious stance overall, with a consensus rating of Reduce and an average price target of $12.95.

Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in shares of Park Hotels & Resorts Inc. (NYSE:PK - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 307,008 shares of the financial services provider's stock, valued at approximately $3,233,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. owned about 0.15% of Park Hotels & Resorts at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Amundi grew its stake in shares of 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 during the period. Millennium Management LLC lifted its position in Park Hotels & Resorts by 849.3% during the first quarter. Millennium Management LLC now owns 523,851 shares of the financial services provider's stock valued at $5,595,000 after purchasing an additional 468,668 shares during the period. United Services Automobile Association purchased a new stake in Park Hotels & Resorts in the first quarter worth approximately $152,000. Empowered Funds LLC boosted its holdings in Park Hotels & Resorts by 10.1% in the first quarter. Empowered Funds LLC now owns 22,380 shares of the financial services provider's stock worth $239,000 after purchasing an additional 2,058 shares during the last quarter. Finally, Focus Partners Wealth grew its position in 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 worth $199,000 after purchasing an additional 4,374 shares during the period. 92.69% of the stock is currently owned by institutional investors.

Park Hotels & Resorts Stock Performance

Shares of NYSE PK opened at $14.41 on Friday. Park Hotels & Resorts Inc. has a 12-month low of $9.84 and a 12-month high of $14.95. The firm has a market capitalization of $2.90 billion, a price-to-earnings ratio of -13.22, a price-to-earnings-growth ratio of 1.94 and a beta of 1.33. 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 firm has a 50 day moving average of $12.80 and a 200 day moving average of $11.63.

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 the consensus estimate 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 during the quarter, compared to the consensus estimate of $609.77 million. During the same quarter in the previous year, the business posted $0.46 earnings per share. The firm'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. On average, research analysts anticipate that Park Hotels & Resorts Inc. will post 1.76 earnings per share for the current year.

Park Hotels & Resorts Dividend Announcement

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 given a dividend of $0.25 per share. The ex-dividend date is Tuesday, June 30th. This represents a $1.00 annualized dividend and a yield of 6.9%. Park Hotels & Resorts's payout ratio is -91.74%.

Analyst Ratings Changes

Several research firms have recently weighed in on PK. LADENBURG THALM/SH SH increased their price target on Park Hotels & Resorts from $16.00 to $20.00 and gave the company a "buy" rating in a report on Tuesday, June 16th. Weiss Ratings raised Park Hotels & Resorts from a "sell (d)" rating to a "sell (d+)" rating in a report on Wednesday, May 20th. Cantor Fitzgerald reiterated a "neutral" rating and set a $12.00 price objective on shares of Park Hotels & Resorts in a research report on Wednesday, May 13th. Morgan Stanley upped their price objective on 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. Finally, Truist Financial increased their target price on Park Hotels & Resorts from $12.00 to $13.00 and gave the company a "hold" rating in a report on Tuesday, May 26th. One research analyst has rated the stock with a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Reduce" and an average price target of $12.95.

About Park Hotels & Resorts

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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