Strs Ohio Sells 71,406 Shares of Park Hotels & Resorts Inc. $PK

Strs Ohio decreased its stake in Park Hotels & Resorts Inc. (NYSE:PK) by 13.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 452,294 shares of the financial services provider’s stock after selling 71,406 shares during the period. Strs Ohio owned 0.23% of Park Hotels & Resorts worth $4,627,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bessemer Group Inc. grew its holdings in Park Hotels & Resorts by 359.3% during the second quarter. Bessemer Group Inc. now owns 3,082 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 2,411 shares during the period. IFP Advisors Inc grew its holdings in Park Hotels & Resorts by 469.0% during the second quarter. IFP Advisors Inc now owns 3,465 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 2,856 shares during the period. GAMMA Investing LLC grew its holdings in Park Hotels & Resorts by 401.2% during the first quarter. GAMMA Investing LLC now owns 5,283 shares of the financial services provider’s stock worth $56,000 after purchasing an additional 4,229 shares during the period. Quarry LP grew its holdings in Park Hotels & Resorts by 186.6% during the first quarter. Quarry LP now owns 7,170 shares of the financial services provider’s stock worth $77,000 after purchasing an additional 4,668 shares during the period. Finally, Kestra Investment Management LLC bought a new position in Park Hotels & Resorts during the first quarter worth about $103,000. Institutional investors own 92.69% of the company’s stock.

Wall Street Analysts Forecast Growth

PK has been the subject of several research reports. Wells Fargo & Company upgraded shares of Park Hotels & Resorts to a “hold” rating in a research report on Friday, October 3rd. Morgan Stanley restated an “outperform” rating on shares of Park Hotels & Resorts in a research report on Tuesday, July 15th. Weiss Ratings restated a “hold (c)” rating on shares of Park Hotels & Resorts in a research report on Wednesday, October 8th. UBS Group raised their price objective on shares of Park Hotels & Resorts from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Monday, October 6th. Finally, Cantor Fitzgerald assumed coverage on shares of Park Hotels & Resorts in a research report on Wednesday, October 1st. They set a “neutral” rating and a $12.00 price objective for the company. One analyst has rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus price target of $11.20.

Park Hotels & Resorts Stock Down 4.0%

Shares of PK opened at $10.30 on Monday. Park Hotels & Resorts Inc. has a one year low of $8.27 and a one year high of $16.23. The company has a market cap of $2.06 billion, a P/E ratio of -147.09 and a beta of 1.83. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.04 and a quick ratio of 1.16. The firm has a 50 day simple moving average of $11.39 and a two-hundred day simple moving average of $10.84.

Park Hotels & Resorts (NYSE:PK) last announced its quarterly earnings data on Thursday, October 30th. The financial services provider reported $0.35 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.08). Park Hotels & Resorts had a negative net margin of 0.47% and a negative return on equity of 1.25%. The firm had revenue of $610.00 million for the quarter, compared to analyst estimates of $617.05 million. During the same quarter in the prior year, the firm earned $0.49 earnings per share. The firm’s revenue for the quarter was down 6.0% on a year-over-year basis. Park Hotels & Resorts has set its FY 2025 guidance at 1.850-1.970 EPS. Research analysts forecast that Park Hotels & Resorts Inc. will post 2.11 EPS for the current fiscal year.

Park Hotels & Resorts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 9.7%. The ex-dividend date is Wednesday, December 31st. Park Hotels & Resorts’s payout ratio is currently -1,428.57%.

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.