IFM Investors Pty Ltd Reduces Holdings in Park Hotels & Resorts Inc. $PK

IFM Investors Pty Ltd reduced its stake in Park Hotels & Resorts Inc. (NYSE:PK) by 22.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,818 shares of the financial services provider’s stock after selling 9,371 shares during the quarter. IFM Investors Pty Ltd’s holdings in Park Hotels & Resorts were worth $325,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Sculptor Capital LP purchased a new position in shares of Park Hotels & Resorts during the 1st quarter worth about $27,467,000. Donald Smith & CO. Inc. raised its stake in shares of 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 valued at $123,646,000 after purchasing an additional 2,377,195 shares during the period. AQR Capital Management LLC boosted its position in Park Hotels & Resorts by 89.8% in 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 buying an additional 2,073,721 shares during the last quarter. Nuveen LLC acquired a new stake in Park Hotels & Resorts during the 1st quarter valued at approximately $7,871,000. Finally, Private Management Group Inc. boosted its stake in Park Hotels & Resorts by 31.1% during the 1st quarter. Private Management Group Inc. now owns 2,976,581 shares of the financial services provider’s stock valued at $31,790,000 after acquiring an additional 706,732 shares during the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PK has been the topic of several research analyst reports. Wells Fargo & Company raised their price objective on Park Hotels & Resorts from $11.00 to $12.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 27th. Wall Street Zen lowered Park Hotels & Resorts from a “hold” rating to a “sell” rating in a report on Friday, July 18th. Truist Financial lowered shares of Park Hotels & Resorts from a “buy” rating to a “hold” rating and lowered their price objective for the company from $16.00 to $11.00 in a research note on Friday, May 30th. Morgan Stanley reaffirmed an “outperform” rating on shares of Park Hotels & Resorts in a research note on Tuesday, July 15th. Finally, Citigroup lowered Park Hotels & Resorts from a “buy” rating to a “neutral” rating and decreased their price target for the company from $13.00 to $12.00 in a research report on Tuesday, September 9th. Two research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $12.20.

Park Hotels & Resorts Trading Up 0.2%

Shares of PK stock opened at $11.66 on Wednesday. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.35. The firm’s fifty day simple moving average is $11.31 and its 200 day simple moving average is $10.75. Park Hotels & Resorts Inc. has a 1 year low of $8.27 and a 1 year high of $16.23. The firm has a market capitalization of $2.33 billion, a P/E ratio of 43.17 and a beta of 1.80.

Park Hotels & Resorts (NYSE:PK) last posted its quarterly earnings results on Thursday, July 31st. The financial services provider reported $0.64 EPS for the quarter, beating the consensus estimate of $0.57 by $0.07. Park Hotels & Resorts had a return on equity of 0.76% and a net margin of 2.25%.The firm had revenue of $672.00 million during the quarter, compared to analysts’ expectations of $672.37 million. During the same quarter in the prior year, the firm posted $0.65 EPS. The company’s revenue for the quarter was down 2.0% on a year-over-year basis. Park Hotels & Resorts has set its FY 2025 guidance at 1.820-2.080 EPS. As a group, sell-side analysts predict that Park Hotels & Resorts Inc. will post 2.11 EPS for the current year.

Park Hotels & Resorts Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $1.00 annualized dividend and a yield of 8.6%. Park Hotels & Resorts’s payout ratio is currently 370.37%.

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.