Resona Asset Management Co. Ltd. Decreases Stock Holdings in Park Hotels & Resorts Inc. $PK

Resona Asset Management Co. Ltd. reduced its position in Park Hotels & Resorts Inc. (NYSE:PK) by 11.0% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 79,766 shares of the financial services provider’s stock after selling 9,863 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Park Hotels & Resorts were worth $838,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Bank of Montreal Can lifted its position in Park Hotels & Resorts by 10.8% during the second quarter. Bank of Montreal Can now owns 97,343 shares of the financial services provider’s stock valued at $996,000 after acquiring an additional 9,516 shares during the last quarter. Hantz Financial Services Inc. increased its position in shares of Park Hotels & Resorts by 5,380.2% during the second quarter. Hantz Financial Services Inc. now owns 10,796 shares of the financial services provider’s stock worth $110,000 after purchasing an additional 10,599 shares in the last quarter. Peregrine Capital Management LLC lifted its holdings in shares of Park Hotels & Resorts by 17.0% during the 2nd quarter. Peregrine Capital Management LLC now owns 468,659 shares of the financial services provider’s stock valued at $4,794,000 after purchasing an additional 68,075 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of Park Hotels & Resorts in the 2nd quarter worth $414,000. Finally, Bessemer Group Inc. boosted its position in shares of Park Hotels & Resorts by 359.3% in the 2nd 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 in the last quarter. Institutional investors own 92.69% of the company’s stock.

Park Hotels & Resorts Stock Performance

Shares of NYSE PK opened at $10.61 on Wednesday. The company has a 50 day simple moving average of $11.20 and a two-hundred day simple moving average of $10.86. The stock has a market cap of $2.12 billion, a price-to-earnings ratio of -151.61 and a beta of 1.84. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.37. Park Hotels & Resorts Inc. has a 12 month low of $8.27 and a 12 month high of $16.23.

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

Park Hotels & Resorts Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 9.4%. The ex-dividend date of this dividend is Wednesday, December 31st. Park Hotels & Resorts’s payout ratio is -1,428.57%.

Analyst Ratings Changes

Several research analysts recently issued reports on PK shares. UBS Group upped their target price on Park Hotels & Resorts from $10.00 to $11.00 and gave the company a “neutral” rating in a research report on Monday, October 6th. Wall Street Zen downgraded shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a report on Friday, July 18th. Cantor Fitzgerald began coverage on shares of Park Hotels & Resorts in a research report on Wednesday, October 1st. They issued a “neutral” rating and a $12.00 price objective for the company. Wells Fargo & Company upgraded shares of Park Hotels & Resorts to a “hold” rating in a research note on Friday, October 3rd. Finally, Morgan Stanley restated an “outperform” rating on shares of Park Hotels & Resorts in a research note on Tuesday, July 15th. One equities research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus target price of $11.20.

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.