Sculptor Capital LP Invests $27.47 Million in Park Hotels & Resorts Inc. $PK

Key Points

• Sculptor Capital LP acquired a new stake in Park Hotels & Resorts, purchasing 2,571,849 shares valued at approximately $27.47 million, representing about 1.29% of the company.
• Park Hotels & Resorts announced a quarterly dividend of $0.25 per share, translating to an annualized dividend of $1.00 with a yield of 8.5%.
• The company's earnings report showed an EPS of $0.64, exceeding estimates, although revenue was down 2% from the previous year.

Sculptor Capital LP acquired a new position in shares of Park Hotels & Resorts Inc. (NYSE:PK - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 2,571,849 shares of the financial services provider's stock, valued at approximately $27,467,000. Sculptor Capital LP owned about 1.29% of Park Hotels & Resorts at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. UMB Bank n.a. lifted its position in shares of Park Hotels & Resorts by 140.9% during the 1st quarter. UMB Bank n.a. now owns 2,385 shares of the financial services provider's stock worth $25,000 after buying an additional 1,395 shares during the last quarter. Versant Capital Management Inc lifted its position in shares of Park Hotels & Resorts by 11,039.1% during the 1st quarter. Versant Capital Management Inc now owns 2,562 shares of the financial services provider's stock worth $27,000 after buying an additional 2,539 shares during the last quarter. Quarry LP purchased a new stake in shares of Park Hotels & Resorts during the 4th quarter worth approximately $35,000. GF Fund Management CO. LTD. purchased a new stake in shares of Park Hotels & Resorts during the 4th quarter worth approximately $53,000. Finally, GAMMA Investing LLC lifted its position in shares of Park Hotels & Resorts by 401.2% during the 1st quarter. GAMMA Investing LLC now owns 5,283 shares of the financial services provider's stock worth $56,000 after buying an additional 4,229 shares during 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 $0.25 on Wednesday, reaching $11.88. 3,746,552 shares of the company were exchanged, compared to its average volume of 4,138,205. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.35. Park Hotels & Resorts Inc. has a 1-year low of $8.27 and a 1-year high of $16.23. The firm has a market cap of $2.37 billion, a price-to-earnings ratio of 43.98 and a beta of 1.80. The company has a 50-day moving average of $10.96 and a 200-day moving average of $10.81.

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 earnings per share for the quarter, topping analysts' consensus estimates 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 business had revenue of $672.00 million for the quarter, compared to analysts' expectations of $672.37 million. During the same period in the prior year, the company posted $0.65 EPS. 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. Equities 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 business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders 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 dividend on an annualized basis and a dividend yield of 8.4%. Park Hotels & Resorts's dividend payout ratio is 370.37%.

Wall Street Analysts Forecast Growth

PK has been the subject of several recent analyst reports. Wall Street Zen downgraded shares of Park Hotels & Resorts from a "hold" rating to a "sell" rating in a research report on Friday, July 18th. Truist Financial cut shares of Park Hotels & Resorts from a "buy" rating to a "hold" rating and cut their target price for the company from $16.00 to $11.00 in a report on Friday, May 30th. Morgan Stanley reaffirmed an "outperform" rating on shares of Park Hotels & Resorts in a report on Tuesday, July 15th. Evercore ISI cut shares of Park Hotels & Resorts from an "outperform" rating to an "in-line" rating and set a $13.00 target price on the stock. in a report on Friday, May 16th. Finally, Citigroup reaffirmed a "buy" rating on shares of Park Hotels & Resorts in a report on Thursday, May 22nd. Three research 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.com, Park Hotels & Resorts currently has a consensus rating of "Hold" and a consensus target price of $12.22.

Park Hotels & Resorts Company 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.