217,906 Shares in Park Hotels & Resorts Inc. $PK Purchased by Kettle Hill Capital Management LLC

Key Points

• Kettle Hill Capital Management LLC has acquired a new position in Park Hotels & Resorts, purchasing 217,906 shares valued at approximately $2.3 million.
• Park Hotels & Resorts reported earnings of $0.64 per share, exceeding analysts' estimates by $0.07, while its quarterly revenue declined 2.0% year-over-year.
• The company announced a quarterly dividend of $0.25, resulting in an annualized dividend yield of 8.3%.

Kettle Hill Capital Management LLC bought a new position in Park Hotels & Resorts Inc. (NYSE:PK - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 217,906 shares of the financial services provider's stock, valued at approximately $2,327,000. Kettle Hill Capital Management LLC owned about 0.11% of Park Hotels & Resorts at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of PK. Sculptor Capital LP bought a new position in shares of Park Hotels & Resorts in the first quarter worth about $27,467,000. Donald Smith & CO. Inc. grew its position in shares of Park Hotels & Resorts by 25.8% during the 1st quarter. Donald Smith & CO. Inc. now owns 11,577,320 shares of the financial services provider's stock worth $123,646,000 after buying an additional 2,377,195 shares during the period. Deutsche Bank AG grew its position in shares of Park Hotels & Resorts by 809.3% during the 4th quarter. Deutsche Bank AG now owns 2,415,621 shares of the financial services provider's stock worth $33,988,000 after buying an additional 2,149,972 shares during the period. AQR Capital Management LLC grew its position in shares of Park Hotels & Resorts by 89.8% during the 1st quarter. AQR Capital Management LLC now owns 4,383,530 shares of the financial services provider's stock worth $46,378,000 after buying an additional 2,073,721 shares during the period. Finally, Northern Trust Corp grew its position in shares of Park Hotels & Resorts by 38.9% during the 4th quarter. Northern Trust Corp now owns 2,742,348 shares of the financial services provider's stock worth $38,585,000 after buying an additional 767,818 shares during the period. 92.69% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Truist Financial cut shares of Park Hotels & Resorts from a "buy" rating to a "hold" rating and lowered their price target for the stock from $16.00 to $11.00 in a research report on Friday, May 30th. Citigroup reiterated a "buy" rating on shares of Park Hotels & Resorts in a research report on Thursday, May 22nd. JPMorgan Chase & Co. assumed coverage on shares of Park Hotels & Resorts in a research report on Monday, June 23rd. They set an "underweight" rating and a $10.00 price target for the company. Evercore ISI cut shares of Park Hotels & Resorts from an "outperform" rating to an "in-line" rating and set a $13.00 price target for the company. in a research report on Friday, May 16th. Finally, Wall Street Zen cut shares of Park Hotels & Resorts from a "hold" rating to a "sell" rating in a report on Friday, July 18th. Three analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $12.22.

Park Hotels & Resorts Trading Down 1.0%

NYSE PK traded down $0.12 during trading on Friday, reaching $11.99. 2,517,276 shares of the stock traded hands, compared to its average volume of 3,303,656. The firm has a market cap of $2.40 billion, a price-to-earnings ratio of 44.41 and a beta of 1.80. The stock's 50-day moving average price is $11.05 and its 200 day moving average price is $10.77. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.35. Park Hotels & Resorts Inc. has a fifty-two week low of $8.27 and a fifty-two week high of $16.23.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The financial services provider reported $0.64 earnings per share (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 company had revenue of $672.00 million during the quarter, compared to the consensus estimate of $672.37 million. During the same quarter in the prior year, the firm earned $0.65 earnings per share. 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. Analysts predict that Park Hotels & Resorts Inc. will post 2.11 EPS for the current year.

Park Hotels & Resorts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be given a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $1.00 dividend on an annualized basis and a yield of 8.3%. Park Hotels & Resorts's dividend payout ratio (DPR) is 370.37%.

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.