Nuveen LLC Buys Shares of 736,996 Park Hotels & Resorts Inc. $PK

Key Points

• Nuveen LLC has acquired a new stake in Park Hotels & Resorts, purchasing 736,996 shares valued at approximately $7.87 million, which represents 0.37% of the company's total shares.
• Park Hotels & Resorts recently reported earnings of $0.64 per share, exceeding analysts' expectations, although revenue decreased by 2% compared to the previous year.
• The company announced a quarterly dividend of $0.25 per share, resulting in an annualized yield of approximately 8.4%.

Nuveen LLC bought a new stake in Park Hotels & Resorts Inc. (NYSE:PK - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 736,996 shares of the financial services provider's stock, valued at approximately $7,871,000. Nuveen LLC owned about 0.37% of Park Hotels & Resorts as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in PK. Donald Smith & CO. Inc. increased its holdings in Park Hotels & Resorts by 25.8% in the 1st quarter. Donald Smith & CO. Inc. now owns 11,577,320 shares of the financial services provider's stock valued at $123,646,000 after purchasing an additional 2,377,195 shares during the last quarter. Deutsche Bank AG grew its stake in shares of Park Hotels & Resorts by 809.3% in the fourth quarter. Deutsche Bank AG now owns 2,415,621 shares of the financial services provider's stock worth $33,988,000 after acquiring an additional 2,149,972 shares in the last quarter. Landmark Investment Partners L.P. acquired a new position in shares of Park Hotels & Resorts in the fourth quarter worth $21,342,000. Northern Trust Corp grew its stake in shares of Park Hotels & Resorts by 38.9% in the fourth quarter. Northern Trust Corp now owns 2,742,348 shares of the financial services provider's stock worth $38,585,000 after acquiring an additional 767,818 shares in the last quarter. Finally, Private Management Group Inc. grew its stake in shares of Park Hotels & Resorts by 31.1% in the first quarter. Private Management Group Inc. now owns 2,976,581 shares of the financial services provider's stock worth $31,790,000 after acquiring an additional 706,732 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company's stock.

Park Hotels & Resorts Stock Down 0.3%

Shares of PK stock traded down $0.04 on Friday, reaching $11.73. 1,236,760 shares of the stock were exchanged, compared to its average volume of 4,136,958. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.35. The business's 50 day moving average price is $10.87 and its 200 day moving average price is $10.84. The company has a market capitalization of $2.34 billion, a price-to-earnings ratio of 43.44 and a beta of 1.80. Park Hotels & Resorts Inc. has a twelve month low of $8.27 and a twelve month high of $16.23.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last announced its earnings results on Thursday, July 31st. The financial services provider reported $0.64 EPS for the quarter, beating analysts' consensus estimates of $0.57 by $0.07. The business had revenue of $672.00 million during the quarter, compared to analysts' expectations of $672.37 million. Park Hotels & Resorts had a net margin of 2.25% and a return on equity of 0.76%. The business's revenue was down 2.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.65 earnings per share. 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 earnings per share for the current fiscal year.

Park Hotels & Resorts Dividend Announcement

The business 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 of this dividend is Tuesday, September 30th. This represents a $1.00 dividend on an annualized basis and a yield of 8.5%. Park Hotels & Resorts's dividend payout ratio (DPR) is 370.37%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. JPMorgan Chase & Co. assumed coverage on shares of Park Hotels & Resorts in a research note on Monday, June 23rd. They issued an "underweight" rating and a $10.00 price target for the company. Morgan Stanley restated an "outperform" rating on shares of Park Hotels & Resorts in a research note on Tuesday, July 15th. Wells Fargo & Company boosted their price target on shares of Park Hotels & Resorts from $11.00 to $12.00 and gave the stock an "equal weight" rating in a research note on Wednesday. Wall Street Zen downgraded shares of Park Hotels & Resorts from a "hold" rating to a "sell" rating in a research note on Friday, July 18th. Finally, Citigroup restated a "buy" rating on shares of Park Hotels & Resorts in a research note on Thursday, May 22nd. Three equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Park Hotels & Resorts currently has a consensus rating of "Hold" and an average target price of $12.22.

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.