Bank of Montreal Can Has $996,000 Position in Park Hotels & Resorts Inc. $PK

Bank of Montreal Can increased its position in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 10.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 97,343 shares of the financial services provider’s stock after buying an additional 9,516 shares during the quarter. Bank of Montreal Can’s holdings in Park Hotels & Resorts were worth $996,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Bessemer Group Inc. lifted its position in shares of Park Hotels & Resorts by 359.3% in the second quarter. Bessemer Group Inc. now owns 3,082 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 2,411 shares in the last quarter. IFP Advisors Inc increased its stake in Park Hotels & Resorts by 469.0% in the 2nd quarter. IFP Advisors Inc now owns 3,465 shares of the financial services provider’s stock valued at $35,000 after buying an additional 2,856 shares during the last quarter. Quarry LP lifted its position in Park Hotels & Resorts by 186.6% during the 1st quarter. Quarry LP now owns 7,170 shares of the financial services provider’s stock worth $77,000 after buying an additional 4,668 shares in the last quarter. GAMMA Investing LLC lifted its position in Park Hotels & Resorts by 71.7% during the 2nd quarter. GAMMA Investing LLC now owns 9,072 shares of the financial services provider’s stock worth $93,000 after buying an additional 3,789 shares in the last quarter. Finally, Signaturefd LLC boosted its stake in shares of Park Hotels & Resorts by 29.9% during the 2nd quarter. Signaturefd LLC now owns 9,964 shares of the financial services provider’s stock worth $102,000 after buying an additional 2,296 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on PK shares. Cantor Fitzgerald initiated coverage on Park Hotels & Resorts in a research report on Wednesday, October 1st. They issued a “neutral” rating and a $12.00 target price on the stock. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Park Hotels & Resorts in a research report on Thursday. Citigroup downgraded Park Hotels & Resorts from a “buy” rating to a “neutral” rating and cut their price objective for the company from $13.00 to $12.00 in a report on Tuesday, September 9th. Wells Fargo & Company raised shares of Park Hotels & Resorts to a “hold” rating in a research note on Friday, October 3rd. Finally, UBS Group upped their price target on shares of Park Hotels & Resorts from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Monday, October 6th. One investment analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $11.20.

Park Hotels & Resorts Price Performance

NYSE:PK opened at $10.45 on Friday. The company has a market cap of $2.09 billion, a P/E ratio of -149.26 and a beta of 1.84. The firm’s fifty day moving average price is $11.11 and its two-hundred day moving average price is $10.87. Park Hotels & Resorts Inc. has a one year low of $8.27 and a one year high of $16.23. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.04 and a quick ratio of 1.04.

Park Hotels & Resorts (NYSE:PK) last posted its earnings results on Thursday, October 30th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.08). Park Hotels & Resorts had a negative return on equity of 1.25% and a negative net margin of 0.47%.The company had revenue of $610.00 million for the quarter, compared to analyst estimates of $617.05 million. During the same quarter in the prior year, the business posted $0.49 EPS. The business’s quarterly revenue was down 6.0% compared to the same quarter last year. Park Hotels & Resorts has set its FY 2025 guidance at 1.850-1.970 EPS. Equities analysts expect that Park Hotels & Resorts Inc. will post 2.11 earnings per share for the current year.

Park Hotels & Resorts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.6%. The ex-dividend date is Wednesday, December 31st. Park Hotels & Resorts’s payout ratio is currently -1,428.57%.

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.