Hsbc Holdings PLC Raises Stake in Park Hotels & Resorts Inc. $PK

Key Points

• Hsbc Holdings PLC has increased its stake in Park Hotels & Resorts by 12.8%, now owning 424,969 shares worth approximately $4.52 million.
• Park Hotels & Resorts reported earnings of $0.64 per share, surpassing estimates, but experienced a 2% decrease in revenue compared to the previous year.
• The company declared a quarterly dividend of $0.25 per share, yielding 8.6%, with a notably high dividend payout ratio of 370.37%.

Hsbc Holdings PLC boosted its holdings in shares of Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 12.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 424,969 shares of the financial services provider's stock after purchasing an additional 48,296 shares during the period. Hsbc Holdings PLC owned about 0.21% of Park Hotels & Resorts worth $4,520,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PK. Matthew 25 Management Corp increased its holdings in Park Hotels & Resorts by 12.0% in the first quarter. Matthew 25 Management Corp now owns 1,232,500 shares of the financial services provider's stock valued at $13,163,000 after buying an additional 132,500 shares in the last quarter. Aberdeen Group plc increased its stake in shares of Park Hotels & Resorts by 26.0% during the first quarter. Aberdeen Group plc now owns 88,727 shares of the financial services provider's stock worth $942,000 after purchasing an additional 18,307 shares in the last quarter. Boston Partners grew its stake in Park Hotels & Resorts by 35.2% during the 1st quarter. Boston Partners now owns 71,343 shares of the financial services provider's stock valued at $762,000 after acquiring an additional 18,566 shares in the last quarter. Resona Asset Management Co. Ltd. grew its stake in Park Hotels & Resorts by 8.3% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 89,629 shares of the financial services provider's stock valued at $975,000 after acquiring an additional 6,901 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in Park Hotels & Resorts during the 1st quarter valued at about $7,871,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Park Hotels & Resorts Trading Up 0.3%

Shares of PK stock traded up $0.03 during trading hours on Friday, hitting $11.79. The company had a trading volume of 2,540,287 shares, compared to its average volume of 4,145,292. The stock has a market capitalization of $2.36 billion, a PE ratio of 43.67 and a beta of 1.80. 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 debt-to-equity ratio of 1.35, a current ratio of 1.16 and a quick ratio of 1.16. The company's fifty day moving average is $10.87 and its 200 day moving average is $10.84.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The financial services provider reported $0.64 EPS for the quarter, beating 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 company had revenue of $672.00 million during the quarter, compared to analysts' expectations of $672.37 million. During the same quarter last year, the company posted $0.65 EPS. The firm's revenue 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. Research analysts expect that Park Hotels & Resorts Inc. will post 2.11 earnings per share for the current fiscal year.

Park Hotels & Resorts Dividend Announcement

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%.

Analysts Set New Price Targets

Several research analysts recently weighed in on PK shares. Truist Financial lowered Park Hotels & Resorts from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $16.00 to $11.00 in a research report on Friday, May 30th. Wall Street Zen lowered Park Hotels & Resorts from a "hold" rating to a "sell" rating in a research report on Friday, July 18th. 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. Wells Fargo & Company increased their price objective on Park Hotels & Resorts from $11.00 to $12.00 and gave the stock an "equal weight" rating in a research report on Wednesday. Finally, Morgan Stanley reiterated an "outperform" rating on shares of Park Hotels & Resorts in a research report on Tuesday, July 15th. Three investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $12.22.

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.