Legal & General Group Plc Purchases 183,882 Shares of Park Hotels & Resorts Inc. $PK

Legal & General Group Plc grew its position in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 15.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,339,137 shares of the financial services provider’s stock after acquiring an additional 183,882 shares during the quarter. Legal & General Group Plc’s holdings in Park Hotels & Resorts were worth $14,007,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in PK. Amundi increased its position in shares of Park Hotels & Resorts by 1.9% during the 1st quarter. Amundi now owns 115,143 shares of the financial services provider’s stock worth $1,119,000 after purchasing an additional 2,179 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Park Hotels & Resorts by 849.3% during the 1st quarter. Millennium Management LLC now owns 523,851 shares of the financial services provider’s stock worth $5,595,000 after acquiring an additional 468,668 shares during the last quarter. United Services Automobile Association acquired a new stake in Park Hotels & Resorts during the 1st quarter valued at $152,000. Empowered Funds LLC lifted its holdings in Park Hotels & Resorts by 10.1% during the 1st quarter. Empowered Funds LLC now owns 22,380 shares of the financial services provider’s stock valued at $239,000 after purchasing an additional 2,058 shares during the last quarter. Finally, Focus Partners Wealth increased its holdings in shares of Park Hotels & Resorts by 30.6% in the first quarter. Focus Partners Wealth now owns 18,646 shares of the financial services provider’s stock valued at $199,000 after purchasing an additional 4,374 shares during the last quarter. 92.69% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PK has been the topic of several research reports. Wells Fargo & Company upped their target price on Park Hotels & Resorts from $10.00 to $12.00 and gave the company an “equal weight” rating in a research report on Monday. Truist Financial upped their price target on shares of Park Hotels & Resorts from $12.00 to $13.00 and gave the company a “hold” rating in a research note on Tuesday, May 26th. Cantor Fitzgerald reissued a “neutral” rating and issued a $12.00 price objective on shares of Park Hotels & Resorts in a report on Wednesday, May 13th. Morgan Stanley raised their target price on shares of Park Hotels & Resorts from $10.00 to $10.50 and gave the stock an “equal weight” rating in a report on Tuesday, May 12th. Finally, Weiss Ratings upgraded Park Hotels & Resorts from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, May 20th. One analyst has rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Park Hotels & Resorts has an average rating of “Reduce” and an average price target of $12.15.

Park Hotels & Resorts Trading Up 3.7%

Shares of Park Hotels & Resorts stock opened at $13.38 on Wednesday. The firm’s 50 day moving average is $11.12 and its 200 day moving average is $11.00. The firm has a market capitalization of $2.69 billion, a PE ratio of -12.27, a price-to-earnings-growth ratio of 1.76 and a beta of 1.37. Park Hotels & Resorts Inc. has a 1 year low of $9.84 and a 1 year high of $13.39. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.27.

Park Hotels & Resorts (NYSE:PK) last issued its earnings results on Thursday, April 30th. The financial services provider reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.33). Park Hotels & Resorts had a negative return on equity of 6.71% and a negative net margin of 8.49%.The firm had revenue of $622.00 million during the quarter, compared to analyst estimates of $609.78 million. During the same period in the previous year, the company earned $0.46 EPS. Park Hotels & Resorts’s revenue for the quarter was down 1.3% on a year-over-year basis. Park Hotels & Resorts has set its FY 2026 guidance at 1.740-1.900 EPS. Equities research analysts forecast that Park Hotels & Resorts Inc. will post 1.74 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, July 15th. Stockholders of record on Tuesday, June 30th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $1.00 annualized dividend and a dividend yield of 7.5%. Park Hotels & Resorts’s dividend payout ratio is presently -91.74%.

About Park Hotels & Resorts

Park Hotels & Resorts Inc is a publicly traded real estate investment trust (REIT) specializing in luxury and upper-upscale hospitality properties. The company’s primary business activity involves owning and leasing premier hotels and resorts across major urban and resort destinations. Through long-term management and franchise agreements with leading hotel operators, Park generates revenue from room nights, food and beverage offerings, meetings and events, and ancillary services.

Since its spin-off from Hilton Worldwide in January 2017, Park Hotels & Resorts has assembled a diversified portfolio of more than 60 properties.