Louisiana State Employees Retirement System Invests $611,000 in Park Hotels & Resorts Inc. $PK

Louisiana State Employees Retirement System purchased a new stake in shares of Park Hotels & Resorts Inc. (NYSE:PK) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 58,000 shares of the financial services provider’s stock, valued at approximately $611,000.

Several other institutional investors have also added to or reduced their stakes in PK. Danske Bank A S bought a new stake in Park Hotels & Resorts in the 3rd quarter worth $25,000. Advisory Services Network LLC bought a new position in shares of Park Hotels & Resorts during the third quarter valued at about $34,000. Harbor Capital Advisors Inc. boosted its holdings in shares of Park Hotels & Resorts by 293.1% during the fourth quarter. Harbor Capital Advisors Inc. now owns 5,181 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 3,863 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Park Hotels & Resorts by 33.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,844 shares of the financial services provider’s stock worth $61,000 after purchasing an additional 1,464 shares during the period. Finally, Allworth Financial LP grew its stake in shares of Park Hotels & Resorts by 56.5% in the third quarter. Allworth Financial LP now owns 6,136 shares of the financial services provider’s stock worth $68,000 after purchasing an additional 2,216 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Analyst Upgrades and Downgrades

PK has been the topic of several research analyst reports. Weiss Ratings raised Park Hotels & Resorts from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, May 20th. Truist Financial lifted their price target on shares of Park Hotels & Resorts from $12.00 to $13.00 and gave the company a “hold” rating in a report on Tuesday, May 26th. BMO Capital Markets reissued a “market perform” rating and set a $14.00 price objective on shares of Park Hotels & Resorts in a research report on Friday, June 12th. Wells Fargo & Company upped their price objective on shares of Park Hotels & Resorts from $12.00 to $15.00 and gave the stock an “equal weight” rating in a report on Thursday, June 18th. Finally, LADENBURG THALM/SH SH upped their price objective on shares of Park Hotels & Resorts from $16.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, June 16th. One analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Park Hotels & Resorts currently has a consensus rating of “Reduce” and an average price target of $12.95.

Park Hotels & Resorts Trading Down 0.9%

Park Hotels & Resorts stock opened at $14.18 on Wednesday. Park Hotels & Resorts Inc. has a 12 month low of $9.84 and a 12 month high of $14.95. The company has a market capitalization of $2.85 billion, a price-to-earnings ratio of -13.00, a price-to-earnings-growth ratio of 1.92 and a beta of 1.33. The business’s fifty day simple moving average is $12.93 and its two-hundred day simple moving average is $11.68. 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 posted its quarterly earnings results on Thursday, April 30th. The financial services provider reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $622.00 million during the quarter, compared to analysts’ expectations of $609.77 million. During the same period in the prior year, the firm earned $0.46 EPS. Park Hotels & Resorts’s revenue for the quarter was down 1.3% compared to the same quarter last year. Park Hotels & Resorts has set its FY 2026 guidance at 1.740-1.900 EPS. As a group, equities analysts predict that Park Hotels & Resorts Inc. will post 1.76 earnings per share for the current fiscal year.

Park Hotels & Resorts Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be issued a dividend of $0.25 per share. The ex-dividend date is Tuesday, June 30th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 7.1%. 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.