Cascade Investment Advisors Inc. Reduces Stock Position in Park Hotels & Resorts Inc. $PK

Cascade Investment Advisors Inc. lessened its holdings in Park Hotels & Resorts Inc. (NYSE:PK) by 5.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 71,512 shares of the financial services provider’s stock after selling 4,050 shares during the quarter. Cascade Investment Advisors Inc.’s holdings in Park Hotels & Resorts were worth $732,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Spire Wealth Management grew its holdings in shares of Park Hotels & Resorts by 47.1% during the first quarter. Spire Wealth Management now owns 7,625 shares of the financial services provider’s stock worth $81,000 after purchasing an additional 2,440 shares during the last quarter. Strs Ohio acquired a new stake in Park Hotels & Resorts in the first quarter valued at about $5,593,000. Parallel Advisors LLC lifted its position in Park Hotels & Resorts by 374.8% in the second quarter. Parallel Advisors LLC now owns 29,843 shares of the financial services provider’s stock valued at $305,000 after purchasing an additional 23,558 shares during the period. Advisors Asset Management Inc. lifted its position in Park Hotels & Resorts by 47.2% in the first quarter. Advisors Asset Management Inc. now owns 126,739 shares of the financial services provider’s stock valued at $1,354,000 after purchasing an additional 40,666 shares during the period. Finally, Caxton Associates LLP acquired a new stake in shares of Park Hotels & Resorts during the 1st quarter valued at approximately $324,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Park Hotels & Resorts Price Performance

PK opened at $10.48 on Monday. The company has a 50-day moving average of $11.35 and a 200-day moving average of $10.71. The company has a market capitalization of $2.10 billion, a P/E ratio of 38.82 and a beta of 1.83. Park Hotels & Resorts Inc. has a 1-year low of $8.27 and a 1-year high of $16.23. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.16 and a current ratio of 1.16.

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

Park Hotels & Resorts Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.5%. The ex-dividend date of this dividend is Tuesday, September 30th. Park Hotels & Resorts’s dividend payout ratio is currently 370.37%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley reiterated an “outperform” rating on shares of Park Hotels & Resorts in a research report on Tuesday, July 15th. Wall Street Zen cut shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research note on Friday, July 18th. JPMorgan Chase & Co. initiated coverage on shares of Park Hotels & Resorts in a research note on Monday, June 23rd. They issued an “underweight” rating and a $10.00 target price for the company. Wells Fargo & Company upgraded shares of Park Hotels & Resorts to a “hold” rating in a report on Friday, October 3rd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Park Hotels & Resorts in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $12.00.

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.