Ieq Capital LLC Grows Stock Position in Park Hotels & Resorts Inc. $PK

Key Points

• Ieq Capital LLC significantly increased its stake in Park Hotels & Resorts Inc. by 497.1% to a total of 365,457 shares, valued at approximately $3.90 million.
• The company reported earnings of $0.64 per share, exceeding analyst expectations, but its revenue of $672 million fell short of estimates and decreased by 2.0% year-over-year.
• Park Hotels & Resorts announced a quarterly dividend of $0.25 per share, translating to an annual yield of 8.5%, with a high dividend payout ratio of 370.37%.

Ieq Capital LLC boosted its holdings in shares of Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 497.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 365,457 shares of the financial services provider's stock after buying an additional 304,252 shares during the period. Ieq Capital LLC owned approximately 0.18% of Park Hotels & Resorts worth $3,903,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Raymond James Financial Inc. purchased a new stake in shares of Park Hotels & Resorts during the 4th quarter valued at approximately $873,000. First Trust Advisors LP grew its position in Park Hotels & Resorts by 76.0% during the 4th quarter. First Trust Advisors LP now owns 346,332 shares of the financial services provider's stock worth $4,873,000 after acquiring an additional 149,542 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Park Hotels & Resorts by 12.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 273,233 shares of the financial services provider's stock valued at $3,845,000 after acquiring an additional 30,325 shares in the last quarter. Coldstream Capital Management Inc. raised its position in shares of Park Hotels & Resorts by 7.3% in the 4th quarter. Coldstream Capital Management Inc. now owns 11,931 shares of the financial services provider's stock worth $168,000 after acquiring an additional 813 shares in the last quarter. Finally, Quarry LP purchased a new position in Park Hotels & Resorts during the 4th quarter valued at about $35,000. Institutional investors own 92.69% of the company's stock.

Park Hotels & Resorts Stock Up 2.3%

PK traded up $0.27 on Wednesday, hitting $11.90. The company had a trading volume of 2,105,179 shares, compared to its average volume of 4,127,312. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.16 and a current ratio of 1.16. The stock has a market capitalization of $2.38 billion, a price-to-earnings ratio of 44.09 and a beta of 1.80. The stock has a fifty day moving average price of $10.96 and a 200-day moving average price of $10.81. Park Hotels & Resorts Inc. has a 12-month low of $8.27 and a 12-month high of $16.23.

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 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.07. The business had revenue of $672.00 million during the quarter, compared to the consensus estimate of $672.37 million. Park Hotels & Resorts had a return on equity of 0.76% and a net margin of 2.25%.The company's quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter last year, the company earned $0.65 earnings per share. Park Hotels & Resorts has set its FY 2025 guidance at 1.820-2.080 EPS. Analysts predict that Park Hotels & Resorts Inc. will post 2.11 EPS for the current fiscal year.

Park Hotels & Resorts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be given a $0.25 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.4%. Park Hotels & Resorts's dividend payout ratio is 370.37%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Citigroup reissued a "buy" rating on shares of Park Hotels & Resorts in a research report on Thursday, May 22nd. Wells Fargo & Company boosted their target price on shares of Park Hotels & Resorts from $11.00 to $12.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 27th. Wall Street Zen downgraded Park Hotels & Resorts from a "hold" rating to a "sell" rating in a research note on Friday, July 18th. Truist Financial downgraded Park Hotels & Resorts from a "buy" rating to a "hold" rating and lowered their price objective for the company from $16.00 to $11.00 in a research report on Friday, May 30th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Park Hotels & Resorts in a report on Monday, June 23rd. They issued an "underweight" rating and a $10.00 target price on the stock. Three research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target 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.