Nomura Asset Management Co. Ltd. Increases Stake in Park Hotels & Resorts Inc. $PK

Nomura Asset Management Co. Ltd. boosted its position in Park Hotels & Resorts Inc. (NYSE:PK) by 2.7% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 291,700 shares of the financial services provider’s stock after acquiring an additional 7,800 shares during the period. Nomura Asset Management Co. Ltd. owned 0.15% of Park Hotels & Resorts worth $2,984,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in PK. Victory Capital Management Inc. increased its stake in shares of Park Hotels & Resorts by 168.4% in the first quarter. Victory Capital Management Inc. now owns 336,278 shares of the financial services provider’s stock worth $3,591,000 after purchasing an additional 210,997 shares in the last quarter. Cetera Investment Advisers boosted its holdings in Park Hotels & Resorts by 10.7% in the 1st quarter. Cetera Investment Advisers now owns 14,999 shares of the financial services provider’s stock worth $160,000 after buying an additional 1,455 shares during the period. LPL Financial LLC grew its stake in Park Hotels & Resorts by 34.5% in the 1st quarter. LPL Financial LLC now owns 508,004 shares of the financial services provider’s stock valued at $5,425,000 after buying an additional 130,399 shares in the last quarter. Mackenzie Financial Corp raised its holdings in Park Hotels & Resorts by 10.6% during the 1st quarter. Mackenzie Financial Corp now owns 12,905 shares of the financial services provider’s stock valued at $138,000 after acquiring an additional 1,239 shares during the period. Finally, Jefferies Financial Group Inc. purchased a new stake in shares of Park Hotels & Resorts during the first quarter worth $682,000. 92.69% of the stock is owned by hedge funds and other institutional investors.

Park Hotels & Resorts Stock Up 6.5%

PK stock opened at $10.48 on Friday. Park Hotels & Resorts Inc. has a 1-year low of $8.27 and a 1-year high of $16.23. The stock has a market cap of $2.09 billion, a price-to-earnings ratio of -149.71 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. The company’s 50 day moving average is $10.94 and its 200 day moving average is $10.87.

Park Hotels & Resorts (NYSE:PK) last released its quarterly earnings results on Thursday, October 30th. The financial services provider reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.08). The company had revenue of $610.00 million during 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%.Park Hotels & Resorts’s quarterly revenue was down 6.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.49 EPS. Park Hotels & Resorts has set its FY 2025 guidance at 1.850-1.970 EPS. Sell-side analysts predict that Park Hotels & Resorts Inc. will post 2.11 EPS for the current fiscal year.

Park Hotels & Resorts Announces Dividend

The company also recently declared 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. The ex-dividend date is Wednesday, December 31st. This represents a $1.00 dividend on an annualized basis and a yield of 9.5%. Park Hotels & Resorts’s dividend payout ratio (DPR) is presently -1,428.57%.

Analysts Set New Price Targets

PK has been the subject of several recent research reports. Citigroup cut Park Hotels & Resorts from a “buy” rating to a “neutral” rating and reduced their price target for the company from $13.00 to $12.00 in a research report on Tuesday, September 9th. UBS Group lifted their target price on Park Hotels & Resorts from $10.00 to $11.00 and gave the company a “neutral” rating in a report on Monday, October 6th. Wells Fargo & Company upgraded Park Hotels & Resorts to a “hold” rating in a research report on Friday, October 3rd. Weiss Ratings restated a “sell (d+)” rating on shares of Park Hotels & Resorts in a research report on Wednesday. Finally, Evercore ISI reduced their price objective on shares of Park Hotels & Resorts from $13.00 to $12.00 and set an “in-line” rating for the company in a research note on Thursday. One analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $11.10.

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.