Diversify Wealth Management LLC Takes Position in Park Hotels & Resorts Inc. $PK

Diversify Wealth Management LLC bought a new stake in Park Hotels & Resorts Inc. (NYSE:PK) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 58,420 shares of the financial services provider’s stock, valued at approximately $662,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Danske Bank A S acquired a new stake in Park Hotels & Resorts in the 3rd quarter valued at about $25,000. Fifth Third Bancorp boosted its stake in shares of Park Hotels & Resorts by 68.8% in the 1st quarter. Fifth Third Bancorp now owns 2,604 shares of the financial services provider’s stock valued at $27,000 after buying an additional 1,061 shares during the period. Advisory Services Network LLC acquired a new position in shares of Park Hotels & Resorts during the third quarter worth about $34,000. Harbor Capital Advisors Inc. grew its position in shares of Park Hotels & Resorts by 293.1% during the fourth quarter. Harbor Capital Advisors Inc. now owns 5,181 shares of the financial services provider’s stock worth $54,000 after buying an additional 3,863 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Park Hotels & Resorts by 33.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,844 shares of the financial services provider’s stock worth $61,000 after buying an additional 1,464 shares during the period. 92.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently weighed in on PK shares. LADENBURG THALM/SH SH raised their target price on shares of Park Hotels & Resorts from $16.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, June 16th. Wells Fargo & Company boosted their price target on shares of Park Hotels & Resorts from $12.00 to $15.00 and gave the stock an “equal weight” rating in a report on Thursday, June 18th. Truist Financial increased their price objective on shares of Park Hotels & Resorts from $12.00 to $13.00 and gave the company a “hold” rating in a research report on Tuesday, May 26th. BMO Capital Markets reaffirmed a “market perform” rating and set a $14.00 price objective on shares of Park Hotels & Resorts in a research report on Friday, June 12th. Finally, Morgan Stanley boosted their target price on shares of Park Hotels & Resorts from $10.00 to $10.50 and gave the stock an “equal weight” rating in a research note on Tuesday, May 12th. One analyst has rated the stock with a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Park Hotels & Resorts has a consensus rating of “Reduce” and an average price target of $12.95.

Park Hotels & Resorts Price Performance

Shares of NYSE:PK opened at $14.62 on Friday. The company’s fifty day moving average price is $13.34 and its 200 day moving average price is $11.85. Park Hotels & Resorts Inc. has a 12 month low of $9.84 and a 12 month high of $14.95. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.25 and a quick ratio of 1.25. The firm has a market capitalization of $2.94 billion, a P/E ratio of -13.41, a P/E/G ratio of 1.95 and a beta of 1.33.

Park Hotels & Resorts (NYSE:PK) last released its quarterly earnings data on Thursday, April 30th. The financial services provider reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.33). The company had revenue of $622.00 million during the quarter, compared to analyst estimates of $609.77 million. Park Hotels & Resorts had a negative net margin of 8.49% and a negative return on equity of 6.71%. The business’s revenue was down 1.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.46 EPS. Park Hotels & Resorts has set its FY 2026 guidance at 1.740-1.900 EPS. As a group, sell-side analysts predict that Park Hotels & Resorts Inc. will post 1.76 earnings per share for the current fiscal year.

Park Hotels & Resorts Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 6.8%. The ex-dividend date of this dividend was Tuesday, June 30th. Park Hotels & Resorts’s payout ratio is presently -91.74%.

About Park Hotels & Resorts

Park Hotels & Resorts Inc is a publicly traded real estate investment trust (REIT) specializing in luxury and upper-upscale hospitality properties. The company’s primary business activity involves owning and leasing premier hotels and resorts across major urban and resort destinations. Through long-term management and franchise agreements with leading hotel operators, Park generates revenue from room nights, food and beverage offerings, meetings and events, and ancillary services.

Since its spin-off from Hilton Worldwide in January 2017, Park Hotels & Resorts has assembled a diversified portfolio of more than 60 properties.