Intech Investment Management LLC Lowers Holdings in Park Hotels & Resorts Inc. $PK

Key Points

• Intech Investment Management cut its stake in Park Hotels & Resorts by 47.3% in the fourth quarter, leaving it with 85,437 shares valued at about $894,000.
• Park Hotels & Resorts reported quarterly EPS of $0.05, well below the $0.38 consensus estimate, even though revenue of $622 million slightly topped expectations.
• The company declared a quarterly dividend of $0.25 per share, equal to a $1.00 annualized payout and a 7.1% yield, while analysts currently hold a consensus rating of Reduce with an average price target of $12.15.

Intech Investment Management LLC trimmed its holdings in Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 47.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 85,437 shares of the financial services provider's stock after selling 76,687 shares during the quarter. Intech Investment Management LLC's holdings in Park Hotels & Resorts were worth $894,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in PK. Sculptor Capital LP boosted its holdings in Park Hotels & Resorts by 154.1% in the second quarter. Sculptor Capital LP now owns 6,534,153 shares of the financial services provider's stock valued at $66,844,000 after purchasing an additional 3,962,304 shares during the last quarter. AQR Capital Management LLC raised its position in shares of Park Hotels & Resorts by 76.7% in the second quarter. AQR Capital Management LLC now owns 7,744,912 shares of the financial services provider's stock worth $79,230,000 after acquiring an additional 3,361,382 shares during the period. Bank of America Corp DE raised its position in shares of Park Hotels & Resorts by 34.6% in the second quarter. Bank of America Corp DE now owns 12,870,552 shares of the financial services provider's stock worth $131,666,000 after acquiring an additional 3,309,275 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Park Hotels & Resorts in the third quarter worth about $20,905,000. Finally, Ameriprise Financial Inc. raised its position in shares of Park Hotels & Resorts by 47.8% in the second quarter. Ameriprise Financial Inc. now owns 2,933,080 shares of the financial services provider's stock worth $30,032,000 after acquiring an additional 948,128 shares during the period. 92.69% of the stock is owned by hedge funds and other institutional investors.

Park Hotels & Resorts Stock Up 0.3%

PK stock opened at $14.10 on Monday. 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 $11.39 and a two-hundred day moving average of $11.09. The company has a market cap of $2.84 billion, a price-to-earnings ratio of -12.93, a PEG ratio of 1.92 and a beta of 1.37. Park Hotels & Resorts Inc. has a 12 month low of $9.84 and a 12 month high of $14.24.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The financial services provider reported $0.05 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.33). Park Hotels & Resorts had a negative net margin of 8.49% and a negative return on equity of 6.71%. The company had revenue of $622.00 million during the quarter, compared to analyst estimates of $609.78 million. During the same period in the prior year, the business posted $0.46 EPS. Park Hotels & Resorts's revenue for the quarter was down 1.3% compared to the same quarter last year. Park Hotels & Resorts has set its FY 2026 guidance at 1.740-1.900 EPS. As a group, analysts forecast 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 declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 7.1%. The ex-dividend date of this dividend is Tuesday, June 30th. Park Hotels & Resorts's dividend payout ratio (DPR) is currently -91.74%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PK. Weiss Ratings upgraded shares of Park Hotels & Resorts from a "sell (d)" rating to a "sell (d+)" rating in a research report on Wednesday, May 20th. Wells Fargo & Company upped their price objective on shares of Park Hotels & Resorts from $10.00 to $12.00 and gave the stock an "equal weight" rating in a research report on Monday, June 1st. Barclays upped their price objective on shares of Park Hotels & Resorts from $9.00 to $12.00 and gave the stock an "equal weight" rating in a research report on Monday, June 1st. Morgan Stanley upped 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 report on Tuesday, May 12th. Finally, Zacks Research upgraded shares of Park Hotels & Resorts from a "strong sell" rating to a "hold" rating in a research report on Thursday, February 19th. One equities research analyst has rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Reduce" and an average price target of $12.15.

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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