Park Hotels & Resorts Inc. $PK Shares Sold by Cbre Investment Management Listed Real Assets LLC

Cbre Investment Management Listed Real Assets LLC cut its holdings in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 44.9% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 800,659 shares of the financial services provider’s stock after selling 651,217 shares during the quarter. Cbre Investment Management Listed Real Assets LLC’s holdings in Park Hotels & Resorts were worth $8,375,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the business. Bank of America Corp DE raised its position in Park Hotels & Resorts by 1.6% during the 3rd quarter. Bank of America Corp DE now owns 13,074,474 shares of the financial services provider’s stock worth $144,865,000 after buying an additional 203,922 shares during the last quarter. AQR Capital Management LLC raised its position in Park Hotels & Resorts by 76.7% during the 2nd quarter. AQR Capital Management LLC now owns 7,744,912 shares of the financial services provider’s stock worth $79,230,000 after buying an additional 3,361,382 shares during the last quarter. Sculptor Capital LP raised its position in Park Hotels & Resorts by 154.1% during the 2nd quarter. Sculptor Capital LP now owns 6,534,153 shares of the financial services provider’s stock worth $66,844,000 after buying an additional 3,962,304 shares during the last quarter. Allianz Asset Management GmbH raised its position in Park Hotels & Resorts by 29.9% during the 3rd quarter. Allianz Asset Management GmbH now owns 4,447,474 shares of the financial services provider’s stock worth $49,278,000 after buying an additional 1,023,400 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in Park Hotels & Resorts by 21.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,634,643 shares of the financial services provider’s stock worth $40,272,000 after buying an additional 636,049 shares during the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on PK. Wall Street Zen raised shares of Park Hotels & Resorts from a “sell” rating to a “hold” rating in a research report on Sunday, March 1st. Barclays raised their price target on shares of Park Hotels & Resorts from $9.00 to $12.00 and gave the stock an “equal weight” rating in a research report on Monday. Wells Fargo & Company raised their price target on shares of Park Hotels & Resorts from $10.00 to $12.00 and gave the stock an “equal weight” rating in a research report on Monday. Morgan Stanley raised their price target on shares of Park Hotels & Resorts from $10.00 to $10.50 and gave the stock an “equal weight” rating in a research report on Tuesday, May 12th. Finally, Truist Financial raised their price target on shares of Park Hotels & Resorts from $12.00 to $13.00 and gave the stock a “hold” rating in a research report on Tuesday, May 26th. One analyst has rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Park Hotels & Resorts currently has a consensus rating of “Reduce” and a consensus price target of $12.15.

Park Hotels & Resorts Price Performance

NYSE:PK opened at $12.91 on Tuesday. 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 cap of $2.60 billion, a price-to-earnings ratio of -11.84, a price-to-earnings-growth ratio of 1.66 and a beta of 1.37. The company has a 50 day moving average price of $11.12 and a 200-day moving average price of $11.00. Park Hotels & Resorts Inc. has a 1-year low of $9.84 and a 1-year high of $12.98.

Park Hotels & Resorts (NYSE:PK) last issued its quarterly earnings results on Thursday, April 30th. The financial services provider reported $0.05 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 analysts’ expectations of $609.78 million. Park Hotels & Resorts had a negative return on equity of 6.71% and a negative net margin of 8.49%.Park Hotels & Resorts’s revenue was down 1.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.46 EPS. Park Hotels & Resorts has set its FY 2026 guidance at 1.740-1.900 EPS. Equities research analysts forecast that Park Hotels & Resorts Inc. will post 1.74 EPS for the current year.

Park Hotels & Resorts Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 7.7%. The ex-dividend date of this dividend is Tuesday, June 30th. Park Hotels & Resorts’s payout ratio is presently -91.74%.

Park Hotels & Resorts Profile

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.