Franklin Resources Inc. Has $3.59 Million Position in Park Hotels & Resorts Inc. $PK

Franklin Resources Inc. lifted its position in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 27.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 350,933 shares of the financial services provider’s stock after acquiring an additional 76,192 shares during the period. Franklin Resources Inc. owned approximately 0.18% of Park Hotels & Resorts worth $3,590,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in PK. Bessemer Group Inc. raised its position in Park Hotels & Resorts by 359.3% during the second quarter. Bessemer Group Inc. now owns 3,082 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 2,411 shares in the last quarter. IFP Advisors Inc boosted its holdings in shares of 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 purchasing an additional 2,856 shares in the last quarter. Allworth Financial LP increased its stake in shares of Park Hotels & Resorts by 322.4% in the 2nd quarter. Allworth Financial LP now owns 3,920 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 2,992 shares during the last quarter. Quarry LP raised its holdings in shares of 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. Finally, GAMMA Investing LLC raised its holdings in shares of 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. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analyst Upgrades and Downgrades

PK has been the topic of a number of recent analyst reports. Citigroup cut Park Hotels & Resorts from a “buy” rating to a “neutral” rating and decreased their target price for the company from $13.00 to $12.00 in a research report on Tuesday, September 9th. UBS Group raised their price target on shares of Park Hotels & Resorts from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Monday, October 6th. Evercore ISI lowered 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 report on Thursday, November 20th. Wells Fargo & Company dropped their price objective on shares of Park Hotels & Resorts from $12.00 to $11.00 and set an “equal weight” rating for the company in a research note on Monday. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Park Hotels & Resorts in a research note on Monday. One research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $11.00.

Park Hotels & Resorts Stock Down 0.4%

Shares of NYSE PK opened at $10.58 on Wednesday. The company has a 50 day simple moving average of $10.76 and a 200 day simple moving average of $10.87. 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 Inc. has a 1 year low of $8.27 and a 1 year high of $16.23. The firm has a market cap of $2.11 billion, a PE ratio of -151.07 and a beta of 1.45.

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

Park Hotels & Resorts Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 9.5%. The ex-dividend date is Wednesday, December 31st. Park Hotels & Resorts’s dividend payout ratio is presently -1,428.57%.

Park Hotels & Resorts Company 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.