Deutsche Bank AG Trims Stock Position in Park Hotels & Resorts Inc. $PK

Deutsche Bank AG cut its stake in Park Hotels & Resorts Inc. (NYSE:PK) by 88.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 269,138 shares of the financial services provider’s stock after selling 2,146,483 shares during the period. Deutsche Bank AG owned about 0.13% of Park Hotels & Resorts worth $2,874,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PK. Landmark Investment Partners L.P. acquired a new position in Park Hotels & Resorts in the fourth quarter valued at $21,342,000. Northern Trust Corp increased its stake in Park Hotels & Resorts by 38.9% in the fourth quarter. Northern Trust Corp now owns 2,742,348 shares of the financial services provider’s stock valued at $38,585,000 after purchasing an additional 767,818 shares during the period. Private Management Group Inc. increased its stake in Park Hotels & Resorts by 31.1% in the first quarter. Private Management Group Inc. now owns 2,976,581 shares of the financial services provider’s stock valued at $31,790,000 after purchasing an additional 706,732 shares during the period. Balyasny Asset Management L.P. increased its stake in Park Hotels & Resorts by 59.4% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,818,769 shares of the financial services provider’s stock valued at $25,590,000 after purchasing an additional 678,102 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Park Hotels & Resorts in the fourth quarter valued at $7,769,000. 92.69% of the stock is owned by hedge funds and other institutional investors.

Park Hotels & Resorts Trading Up 1.2%

Shares of Park Hotels & Resorts stock opened at $11.1550 on Wednesday. Park Hotels & Resorts Inc. has a 52-week low of $8.27 and a 52-week high of $16.23. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.35. The company’s 50-day simple moving average is $10.68 and its 200-day simple moving average is $10.90. The firm has a market cap of $2.23 billion, a price-to-earnings ratio of 41.32 and a beta of 1.80.

Park Hotels & Resorts (NYSE:PK) last issued its quarterly earnings results on Thursday, July 31st. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.07. Park Hotels & Resorts had a net margin of 2.25% and a return on equity of 0.76%. The business had revenue of $672.00 million for the quarter, compared to analyst estimates of $672.37 million. During the same period in the previous year, the business posted $0.65 earnings per share. The business’s revenue was down 2.0% compared to the same quarter last year. Park Hotels & Resorts has set its FY 2025 guidance at 1.820-2.080 EPS. As a group, equities research analysts anticipate 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 announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 9.0%. The ex-dividend date is Tuesday, September 30th. Park Hotels & Resorts’s dividend payout ratio is presently 370.37%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on PK shares. Citigroup restated a “buy” rating on shares of Park Hotels & Resorts in a research note on Thursday, May 22nd. Evercore ISI lowered shares of Park Hotels & Resorts from an “outperform” rating to an “in-line” rating and set a $13.00 price objective on the stock. in a research note on Friday, May 16th. Truist Financial lowered shares of Park Hotels & Resorts from a “buy” rating to a “hold” rating and dropped their price objective for the company from $16.00 to $11.00 in a research note on Friday, May 30th. Wall Street Zen lowered shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research note on Friday, July 18th. Finally, Morgan Stanley restated an “outperform” rating on shares of Park Hotels & Resorts in a research note on Tuesday, July 15th. Three research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Park Hotels & Resorts presently has an average rating of “Hold” and an average target price of $12.11.

Park Hotels & Resorts Profile

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.