New York State Teachers Retirement System Sells 21,159 Shares of Park Hotels & Resorts Inc. $PK

New York State Teachers Retirement System decreased its stake in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 7.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 262,026 shares of the financial services provider’s stock after selling 21,159 shares during the period. New York State Teachers Retirement System owned approximately 0.13% of Park Hotels & Resorts worth $2,681,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Spire Wealth Management increased its position 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 acquiring an additional 2,440 shares in the last quarter. Strs Ohio bought a new position in Park Hotels & Resorts in the first quarter valued at $5,593,000. Parallel Advisors LLC grew 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 in the last quarter. Advisors Asset Management Inc. grew 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 in the last quarter. Finally, Caxton Associates LLP bought a new position in Park Hotels & Resorts in the first quarter valued at $324,000. Institutional investors own 92.69% of the company’s stock.

Park Hotels & Resorts Stock Performance

Shares of PK opened at $11.04 on Wednesday. The firm has a 50-day moving average of $11.43 and a 200-day moving average of $10.74. Park Hotels & Resorts Inc. has a one year low of $8.27 and a one year high of $16.23. The company has a market cap of $2.21 billion, a PE ratio of 40.87 and a beta of 1.83. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.16 and a quick ratio of 1.16.

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

Park Hotels & Resorts Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.1%. The ex-dividend date of this dividend was Tuesday, September 30th. Park Hotels & Resorts’s dividend payout ratio is currently 370.37%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on PK shares. Cantor Fitzgerald started coverage on shares of Park Hotels & Resorts in a research report on Wednesday, October 1st. They issued a “neutral” rating and a $12.00 target price for the company. Morgan Stanley reaffirmed an “outperform” rating on shares of Park Hotels & Resorts in a research report on Tuesday, July 15th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Park Hotels & Resorts in a research report on Wednesday, October 8th. Wells Fargo & Company raised shares of Park Hotels & Resorts to a “hold” rating in a research report on Friday, October 3rd. Finally, UBS Group raised their target price on shares of Park Hotels & Resorts from $10.00 to $11.00 and gave the company a “neutral” rating in a research report on Monday, October 6th. Two analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to 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.