CSM Advisors LLC Increases Holdings in Park Hotels & Resorts Inc. $PK

CSM Advisors LLC boosted its holdings in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 13.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 584,561 shares of the financial services provider’s stock after purchasing an additional 71,077 shares during the quarter. CSM Advisors LLC’s holdings in Park Hotels & Resorts were worth $6,477,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Capital Fund Management S.A. lifted its holdings in shares of Park Hotels & Resorts by 39.1% in the second quarter. Capital Fund Management S.A. now owns 370,803 shares of the financial services provider’s stock worth $3,793,000 after buying an additional 104,307 shares in the last quarter. SAM Advisors LLC purchased a new position in Park Hotels & Resorts during the third quarter valued at $2,212,000. Citigroup Inc. increased its holdings in Park Hotels & Resorts by 13.9% in the 3rd quarter. Citigroup Inc. now owns 1,636,353 shares of the financial services provider’s stock valued at $18,131,000 after acquiring an additional 199,405 shares during the last quarter. Squarepoint Ops LLC lifted its stake in Park Hotels & Resorts by 370.3% in the 2nd quarter. Squarepoint Ops LLC now owns 432,535 shares of the financial services provider’s stock worth $4,425,000 after purchasing an additional 340,568 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH lifted its stake in Park Hotels & Resorts by 28.3% in the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 483,869 shares of the financial services provider’s stock worth $5,361,000 after purchasing an additional 106,662 shares in the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Christie B. Kelly bought 2,949 shares of the stock in a transaction dated Wednesday, January 14th. The stock was purchased at an average cost of $11.19 per share, with a total value of $32,999.31. Following the completion of the purchase, the director owned 150,501 shares of the company’s stock, valued at $1,684,106.19. This trade represents a 2.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.90% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on PK. Barclays assumed coverage on shares of Park Hotels & Resorts in a report on Tuesday, January 6th. They set an “overweight” rating and a $13.00 price objective for the company. Zacks Research raised Park Hotels & Resorts from a “strong sell” rating to a “hold” rating in a research note on Thursday, February 19th. Cantor Fitzgerald raised their price target on Park Hotels & Resorts from $11.00 to $12.00 and gave the company a “neutral” rating in a report on Tuesday, March 3rd. Truist Financial reduced their price objective on Park Hotels & Resorts from $12.00 to $11.00 and set a “hold” rating on the stock in a research note on Tuesday, February 3rd. Finally, Evercore decreased their price objective on Park Hotels & Resorts from $13.00 to $12.00 and set an “in-line” rating on the stock in a report on Thursday, November 20th. Two investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $11.27.

Park Hotels & Resorts Trading Down 1.7%

PK opened at $10.20 on Monday. The stock has a market cap of $2.05 billion, a price-to-earnings ratio of -7.13 and a beta of 1.40. The stock’s 50 day moving average price is $11.19 and its 200-day moving average price is $11.06. Park Hotels & Resorts Inc. has a one year low of $8.27 and a one year high of $12.39. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.34 and a current ratio of 1.34.

Park Hotels & Resorts (NYSE:PK) last issued its quarterly earnings results on Thursday, February 19th. The financial services provider reported ($1.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($1.50). The business had revenue of $629.00 million for the quarter, compared to the consensus estimate of $621.79 million. Park Hotels & Resorts had a negative return on equity of 8.56% and a negative net margin of 11.14%.Park Hotels & Resorts’s revenue was up .6% on a year-over-year basis. During the same period in the prior year, the business posted $0.39 earnings per share. Park Hotels & Resorts has set its FY 2026 guidance at 1.730-1.89 EPS. On average, equities analysts forecast that Park Hotels & Resorts Inc. will post 2.11 EPS for the current year.

Park Hotels & Resorts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 9.8%. The ex-dividend date is Tuesday, March 31st. Park Hotels & Resorts’s dividend payout ratio (DPR) is -69.93%.

Park Hotels & Resorts Company 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.