Legal & General Group Plc Has $14.01 Million Position in Park Hotels & Resorts Inc. $PK

Key Points

• Legal & General Group Plc increased its stake in Park Hotels & Resorts by 15.9% in the fourth quarter, ending with 1.34 million shares valued at about $14.0 million.
• Park Hotels & Resorts reported mixed quarterly results: EPS of $0.05 missed estimates of $0.38, while revenue of $622 million came in slightly above forecasts. The company also said revenue fell 1.3% from a year earlier.
• The company declared a quarterly dividend of $0.25 per share, implying an annualized yield of about 7.5%, even as analysts maintain a cautious outlook with a consensus rating of “Reduce” and an average price target of $12.15.

Legal & General Group Plc boosted its stake in shares of Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 15.9% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,339,137 shares of the financial services provider's stock after purchasing an additional 183,882 shares during the period. Legal & General Group Plc owned about 0.67% of Park Hotels & Resorts worth $14,007,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in PK. JPMorgan Chase & Co. increased its stake in shares of Park Hotels & Resorts by 21.2% in the third quarter. JPMorgan Chase & Co. now owns 3,634,643 shares of the financial services provider's stock worth $40,272,000 after acquiring an additional 636,049 shares during the last quarter. Private Management Group Inc. boosted its position in Park Hotels & Resorts by 6.2% during the third quarter. Private Management Group Inc. now owns 3,185,571 shares of the financial services provider's stock valued at $35,296,000 after purchasing an additional 186,713 shares during the last quarter. Citigroup Inc. boosted its position in Park Hotels & Resorts by 13.9% during the third quarter. Citigroup Inc. now owns 1,636,353 shares of the financial services provider's stock valued at $18,131,000 after purchasing an additional 199,405 shares during the last quarter. SG Americas Securities LLC increased its position in Park Hotels & Resorts by 223.9% in the 4th quarter. SG Americas Securities LLC now owns 762,261 shares of the financial services provider's stock worth $7,973,000 after purchasing an additional 526,901 shares during the last quarter. Finally, Matthew 25 Management Corp increased its position in Park Hotels & Resorts by 368.0% in the 3rd quarter. Matthew 25 Management Corp now owns 475,000 shares of the financial services provider's stock worth $5,263,000 after purchasing an additional 373,500 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company's stock.

Park Hotels & Resorts Stock Performance

PK opened at $13.38 on Wednesday. Park Hotels & Resorts Inc. has a 12-month low of $9.84 and a 12-month high of $13.39. The stock's 50 day moving average price is $11.12 and its two-hundred day moving average price is $11.00. The firm has a market capitalization of $2.69 billion, a P/E ratio of -12.27, a price-to-earnings-growth ratio of 1.76 and a beta of 1.37. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.27.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The financial services provider reported $0.05 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.38 by ($0.33). The business had revenue of $622.00 million during the quarter, compared to analyst estimates of $609.78 million. Park Hotels & Resorts had a negative net margin of 8.49% and a negative return on equity of 6.71%. The company's quarterly revenue was down 1.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.46 EPS. Park Hotels & Resorts has set its FY 2026 guidance at 1.740-1.900 EPS. On average, equities analysts forecast that Park Hotels & Resorts Inc. will post 1.74 earnings per share for the current year.

Park Hotels & Resorts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be issued a dividend of $0.25 per share. The ex-dividend date is Tuesday, June 30th. This represents a $1.00 dividend on an annualized basis and a yield of 7.5%. Park Hotels & Resorts's dividend payout ratio (DPR) is -91.74%.

Analyst Ratings Changes

PK has been the subject of several research reports. Weiss Ratings upgraded Park Hotels & Resorts from a "sell (d)" rating to a "sell (d+)" rating in a report on Wednesday, May 20th. JPMorgan Chase & Co. raised their price objective on shares of Park Hotels & Resorts from $10.00 to $11.00 and gave the company an "underweight" rating in a research report on Tuesday, February 3rd. Barclays lifted their target price on shares of Park Hotels & Resorts from $9.00 to $12.00 and gave the company an "equal weight" rating in a research note on Monday. Cantor Fitzgerald restated a "neutral" rating and set a $12.00 price target on shares of Park Hotels & Resorts in a research note on Wednesday, May 13th. Finally, Wall Street Zen upgraded shares of Park Hotels & Resorts from a "sell" rating to a "hold" rating in a report on Sunday, March 1st. One investment analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently 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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