Nuveen LLC Makes New $7.87 Million Investment in 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 purchased a new position in shares of Park Hotels & Resorts Inc. (NYSE:PK - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 736,996 shares of the financial services provider's stock, valued at approximately $7,871,000. Nuveen LLC owned approximately 0.37% of Park Hotels & Resorts at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of PK. Raymond James Financial Inc. purchased a new position in Park Hotels & Resorts during the fourth quarter worth approximately $873,000. Barclays PLC lifted its position in shares of Park Hotels & Resorts by 11.0% in the fourth quarter. Barclays PLC now owns 354,693 shares of the financial services provider's stock valued at $4,992,000 after acquiring an additional 35,100 shares in the last quarter. First Trust Advisors LP lifted its position in shares of Park Hotels & Resorts by 76.0% in the fourth quarter. First Trust Advisors LP now owns 346,332 shares of the financial services provider's stock valued at $4,873,000 after acquiring an additional 149,542 shares in the last quarter. MetLife Investment Management LLC lifted its position in shares of Park Hotels & Resorts by 7.1% in the fourth quarter. MetLife Investment Management LLC now owns 122,362 shares of the financial services provider's stock valued at $1,722,000 after acquiring an additional 8,067 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its position in shares of Park Hotels & Resorts by 19.4% in the fourth quarter. Hsbc Holdings PLC now owns 376,673 shares of the financial services provider's stock valued at $5,311,000 after acquiring an additional 61,315 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company's stock.

Park Hotels & Resorts Price Performance

Shares of NYSE:PK traded up $0.03 during midday trading on Friday, hitting $11.79. The company had a trading volume of 2,540,287 shares, compared to its average volume of 3,899,517. Park Hotels & Resorts Inc. has a twelve month low of $8.27 and a twelve month high of $16.23. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.16 and a quick ratio of 1.16. The stock has a market cap of $2.36 billion, a price-to-earnings ratio of 43.67 and a beta of 1.80. The business's 50-day simple moving average is $10.90 and its 200-day simple moving average is $10.82.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The financial services provider reported $0.64 EPS for the quarter, beating the consensus estimate of $0.57 by $0.07. Park Hotels & Resorts had a return on equity of 0.76% and a net margin of 2.25%.The firm had revenue of $672.00 million during the quarter, compared to analysts' expectations of $672.37 million. During the same quarter 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. On average, research analysts predict that Park Hotels & Resorts Inc. will post 2.11 earnings per share for the current year.

Park Hotels & Resorts Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $1.00 annualized dividend and a yield of 8.5%. Park Hotels & Resorts's dividend payout ratio (DPR) is 370.37%.

Analysts Set New Price Targets

Several research firms have recently weighed in on PK. Truist Financial downgraded Park Hotels & Resorts from a "buy" rating to a "hold" rating and decreased their target price for the company from $16.00 to $11.00 in a research report on Friday, May 30th. Morgan Stanley restated an "outperform" rating on shares of Park Hotels & Resorts in a research report on Tuesday, July 15th. Wells Fargo & Company raised their target price on Park Hotels & Resorts from $11.00 to $12.00 and gave the company an "equal weight" rating in a research report on Wednesday. Evercore ISI downgraded Park Hotels & Resorts from an "outperform" rating to an "in-line" rating and set a $13.00 target price on the stock. in a research report on Friday, May 16th. Finally, Citigroup restated a "buy" rating on shares of Park Hotels & Resorts in a research report on Thursday, May 22nd. Three analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $12.22.

Park Hotels & Resorts 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.