Park Hotels & Resorts Inc. $PK Stake Increased by Allianz Asset Management GmbH

Key Points

• Allianz Asset Management GmbH increased its stake in Park Hotels & Resorts by 8.7% during the second quarter, holding approximately 1.71% of the company valued at $35 million.
• Research analysts have mixed ratings on Park Hotels & Resorts, with two buy ratings, eight hold ratings, and two sell ratings, resulting in an average consensus rating of "Hold" and a price target of $12.00.
• The company declared a quarterly dividend of $0.25, yielding 9.3%, although its dividend payout ratio is notably high at 370.37%.

Allianz Asset Management GmbH grew its holdings in Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 8.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,424,074 shares of the financial services provider's stock after purchasing an additional 273,098 shares during the period. Allianz Asset Management GmbH owned approximately 1.71% of Park Hotels & Resorts worth $35,028,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Donald Smith & CO. Inc. lifted its holdings in shares of Park Hotels & Resorts by 25.8% in the first 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 in the last quarter. AQR Capital Management LLC lifted its holdings in shares of Park Hotels & Resorts by 89.8% in the first quarter. AQR Capital Management LLC now owns 4,383,530 shares of the financial services provider's stock valued at $46,378,000 after purchasing an additional 2,073,721 shares in the last quarter. H 2 Credit Manager LP increased its stake in shares of Park Hotels & Resorts by 13.9% in the first quarter. H 2 Credit Manager LP now owns 3,903,750 shares of the financial services provider's stock worth $41,692,000 after acquiring an additional 475,000 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Park Hotels & Resorts by 9.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,195,453 shares of the financial services provider's stock worth $34,127,000 after acquiring an additional 286,470 shares during the last quarter. Finally, Private Management Group Inc. increased 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 during the last quarter. Hedge funds and other institutional investors own 92.69% of the company's stock.

Wall Street Analysts Forecast Growth

PK has been the topic of a number of research reports. Wells Fargo & Company raised shares of Park Hotels & Resorts to a "hold" rating in a research note on Friday, October 3rd. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Park Hotels & Resorts in a research note on Wednesday, October 8th. Citigroup downgraded shares of Park Hotels & Resorts from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $13.00 to $12.00 in a research note on Tuesday, September 9th. 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, Morgan Stanley reaffirmed an "outperform" rating on shares of Park Hotels & Resorts in a research note on Tuesday, July 15th. Two research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $12.00.

Park Hotels & Resorts Trading Down 0.6%

Park Hotels & Resorts stock opened at $10.81 on Friday. 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 company has a market capitalization of $2.16 billion, a price-to-earnings ratio of 40.04 and a beta of 1.83. Park Hotels & Resorts Inc. has a one year low of $8.27 and a one year high of $16.23. The company's fifty day moving average price is $11.41 and its two-hundred day moving average price is $10.72.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last posted its earnings results on Thursday, July 31st. The financial services provider reported $0.64 EPS for the quarter, topping the consensus estimate of $0.57 by $0.07. The firm had revenue of $672.00 million for the quarter, compared to the consensus estimate 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 quarterly revenue was down 2.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.65 earnings per share. Park Hotels & Resorts has set its FY 2025 guidance at 1.820-2.080 EPS. On average, analysts forecast that Park Hotels & Resorts Inc. will post 2.11 earnings per share for the current fiscal year.

Park Hotels & Resorts Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 9.3%. The ex-dividend date of this dividend was Tuesday, September 30th. Park Hotels & Resorts's dividend payout ratio (DPR) is currently 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.

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