Voya Investment Management LLC Has $3.77 Million Stake in Park Hotels & Resorts Inc. $PK

Voya Investment Management LLC grew its holdings in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 116.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 352,982 shares of the financial services provider’s stock after purchasing an additional 189,825 shares during the period. Voya Investment Management LLC owned about 0.18% of Park Hotels & Resorts worth $3,770,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Donald Smith & CO. Inc. grew its position in Park Hotels & Resorts by 25.8% during the first quarter. Donald Smith & CO. Inc. now owns 11,577,320 shares of the financial services provider’s stock worth $123,646,000 after buying an additional 2,377,195 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Park Hotels & Resorts by 89.8% during the 1st quarter. AQR Capital Management LLC now owns 4,383,530 shares of the financial services provider’s stock valued at $46,378,000 after acquiring an additional 2,073,721 shares during the period. H 2 Credit Manager LP grew its holdings in shares of Park Hotels & Resorts by 13.9% during the 1st quarter. H 2 Credit Manager LP now owns 3,903,750 shares of the financial services provider’s stock worth $41,692,000 after purchasing an additional 475,000 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Park Hotels & Resorts by 9.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,195,453 shares of the financial services provider’s stock worth $34,127,000 after purchasing an additional 286,470 shares during the period. Finally, Private Management Group Inc. raised 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 in the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Wells Fargo & Company raised their target price on shares of Park Hotels & Resorts from $11.00 to $12.00 and gave the company an “equal weight” rating in a report on Wednesday, August 27th. Wall Street Zen cut shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research note on Friday, July 18th. Citigroup cut Park Hotels & Resorts from a “buy” rating to a “neutral” rating and cut their target price for the stock from $13.00 to $12.00 in a research note on Tuesday, September 9th. JPMorgan Chase & Co. initiated coverage on Park Hotels & Resorts in a report on Monday, June 23rd. They issued an “underweight” rating and a $10.00 target price on the stock. Finally, Morgan Stanley reiterated an “outperform” rating on shares of Park Hotels & Resorts in a research note on Tuesday, July 15th. Two investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Park Hotels & Resorts presently has an average rating of “Hold” and an average price target of $12.20.

Park Hotels & Resorts Price Performance

Shares of NYSE PK opened at $12.00 on Friday. The company has a market capitalization of $2.40 billion, a PE ratio of 44.45 and a beta of 1.80. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.35. Park Hotels & Resorts Inc. has a twelve month low of $8.27 and a twelve month high of $16.23. The firm has a fifty day simple moving average of $11.28 and a 200 day simple moving average of $10.77.

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, beating the consensus estimate of $0.57 by $0.07. The firm had revenue of $672.00 million for the quarter, compared to analyst estimates of $672.37 million. Park Hotels & Resorts had a return on equity of 0.76% and a net margin of 2.25%.The company’s revenue was down 2.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.65 earnings per share. Park Hotels & Resorts has set its FY 2025 guidance at 1.820-2.080 EPS. On average, sell-side analysts forecast that Park Hotels & Resorts Inc. will post 2.11 EPS for the current year.

Park Hotels & Resorts Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be paid a $0.25 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $1.00 annualized dividend and a dividend yield of 8.3%. Park Hotels & Resorts’s dividend payout ratio (DPR) is currently 370.37%.

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.