Invesco Ltd. Has $28.48 Million Stock Holdings in Park Hotels & Resorts Inc. $PK

Key Points

• Invesco Ltd. reduced its stake in Park Hotels & Resorts by 6.0%, owning approximately 2.67 million shares worth around $28.48 million as of its latest SEC filing.
• Park Hotels & Resorts reported a quarterly earnings per share (EPS) of $0.64, exceeding expectations, while its revenue decreased by 2.0% year-over-year.
• The company announced a quarterly dividend of $0.25 per share, reflecting a 9.0% dividend yield, with the payout displaying a high dividend payout ratio of 370.37%.

Invesco Ltd. cut its position in Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 6.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,666,862 shares of the financial services provider's stock after selling 171,055 shares during the period. Invesco Ltd. owned 1.33% of Park Hotels & Resorts worth $28,482,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Spire Wealth Management lifted its position in shares of Park Hotels & Resorts by 47.1% during the first quarter. Spire Wealth Management now owns 7,625 shares of the financial services provider's stock worth $81,000 after purchasing an additional 2,440 shares in the last quarter. Northern Trust Corp lifted its position in shares of Park Hotels & Resorts by 38.9% during the fourth quarter. Northern Trust Corp now owns 2,742,348 shares of the financial services provider's stock worth $38,585,000 after purchasing an additional 767,818 shares in the last quarter. M&T Bank Corp lifted its position in shares of Park Hotels & Resorts by 54.8% during the first quarter. M&T Bank Corp now owns 75,070 shares of the financial services provider's stock worth $801,000 after purchasing an additional 26,586 shares in the last quarter. Teacher Retirement System of Texas lifted its position in shares of Park Hotels & Resorts by 34.4% during the first quarter. Teacher Retirement System of Texas now owns 30,199 shares of the financial services provider's stock worth $323,000 after purchasing an additional 7,724 shares in the last quarter. Finally, Barclays PLC lifted its position in shares of Park Hotels & Resorts by 11.0% during the fourth quarter. Barclays PLC now owns 354,693 shares of the financial services provider's stock worth $4,992,000 after purchasing an additional 35,100 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Park Hotels & Resorts Trading Up 6.0%

PK stock traded up $0.6650 during midday trading on Friday, reaching $11.8350. The company's stock had a trading volume of 4,233,420 shares, compared to its average volume of 3,833,043. Park Hotels & Resorts Inc. has a 52 week low of $8.27 and a 52 week high of $16.23. The stock has a market cap of $2.37 billion, a PE ratio of 43.83 and a beta of 1.80. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.35. The business's 50-day simple moving average is $10.75 and its 200-day simple moving average is $10.86.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $672.37 million. During the same period last year, the firm earned $0.65 earnings per share. The business's revenue for the quarter was down 2.0% on a year-over-year basis. Park Hotels & Resorts has set its FY 2025 guidance at 1.820-2.080 EPS. As a group, sell-side analysts expect that Park Hotels & Resorts Inc. will post 2.11 EPS for the current year.

Park Hotels & Resorts Announces Dividend

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

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on PK shares. Wells Fargo & Company upped their target price on shares of Park Hotels & Resorts from $10.00 to $11.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 1st. Morgan Stanley reiterated an "outperform" rating on shares of Park Hotels & Resorts in a research report on Tuesday, July 15th. Bank of America lowered shares of Park Hotels & Resorts from a "neutral" rating to an "underperform" rating and set a $11.00 target price on the stock. in a research report on Wednesday, April 30th. JPMorgan Chase & Co. initiated coverage on shares of Park Hotels & Resorts in a report on Monday, June 23rd. They issued an "underweight" rating and a $10.00 price objective on the stock. Finally, Wall Street Zen cut shares of Park Hotels & Resorts from a "hold" rating to a "sell" rating in a research note on Friday, July 18th. Three equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $12.11.

Park Hotels & Resorts Company 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.