Park Hotels & Resorts Inc. $PK Shares Bought by Hotchkis & Wiley Capital Management LLC

Key Points

• Hotchkis & Wiley Capital Management LLC increased its stake in Park Hotels & Resorts by 8.4%, acquiring an additional 73,540 shares during the first quarter, bringing their total ownership to approximately 0.48% valued at $10.17 million.
• Park Hotels & Resorts declared a quarterly dividend of $0.25 per share, with a resulting annualized yield of 8.4%.
• Several analysts have issued ratings and price targets for Park Hotels, with Bank of America setting a new target of $11.00 and others providing varying ratings such as "underperform" and "hold."

Hotchkis & Wiley Capital Management LLC increased its holdings in shares of Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 8.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 952,400 shares of the financial services provider's stock after buying an additional 73,540 shares during the period. Hotchkis & Wiley Capital Management LLC owned about 0.48% of Park Hotels & Resorts worth $10,172,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Spire Wealth Management increased its position in shares of Park Hotels & Resorts by 47.1% in the 1st quarter. Spire Wealth Management now owns 7,625 shares of the financial services provider's stock valued at $81,000 after purchasing an additional 2,440 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Park Hotels & Resorts by 38.9% in the 4th quarter. Northern Trust Corp now owns 2,742,348 shares of the financial services provider's stock valued at $38,585,000 after purchasing an additional 767,818 shares in the last quarter. M&T Bank Corp raised its holdings in shares of Park Hotels & Resorts by 54.8% in the 1st quarter. M&T Bank Corp now owns 75,070 shares of the financial services provider's stock valued at $801,000 after purchasing an additional 26,586 shares in the last quarter. Teacher Retirement System of Texas raised its holdings in shares of Park Hotels & Resorts by 34.4% in the 1st quarter. Teacher Retirement System of Texas now owns 30,199 shares of the financial services provider's stock valued at $323,000 after purchasing an additional 7,724 shares in the last quarter. Finally, Boston Partners raised its holdings in shares of Park Hotels & Resorts by 35.2% in the 1st quarter. Boston Partners now owns 71,343 shares of the financial services provider's stock valued at $762,000 after purchasing an additional 18,566 shares in the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

Park Hotels & Resorts Stock Up 0.3%

NYSE:PK traded up $0.03 during midday trading on Friday, hitting $11.79. 2,540,287 shares of the company were exchanged, compared to its average volume of 3,899,517. The company has a fifty day simple moving average of $10.90 and a 200 day simple moving average of $10.82. Park Hotels & Resorts Inc. has a fifty-two week low of $8.27 and a fifty-two week high of $16.23. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.35. The company has a market capitalization of $2.36 billion, a PE ratio of 43.67 and a beta of 1.80.

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

Park Hotels & Resorts Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 8.5%. The ex-dividend date is Tuesday, September 30th. Park Hotels & Resorts's dividend payout ratio (DPR) is currently 370.37%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Evercore ISI lowered shares of Park Hotels & Resorts from an "outperform" rating to an "in-line" rating and set a $13.00 price objective on the stock. in a report on Friday, May 16th. Morgan Stanley restated an "outperform" rating on shares of Park Hotels & Resorts in a report on Tuesday, July 15th. Wall Street Zen lowered shares of Park Hotels & Resorts from a "hold" rating to a "sell" rating in a report on Friday, July 18th. Truist Financial lowered shares of 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 report on Friday, May 30th. Finally, Wells Fargo & Company raised their price objective on shares of Park Hotels & Resorts from $11.00 to $12.00 and gave the company an "equal weight" rating in a report on Wednesday. Three investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $12.22.

Park Hotels & Resorts Profile

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.