Park Hotels & Resorts (NYSE:PK) Sees Unusually-High Trading Volume – Here’s Why

Shares of Park Hotels & Resorts Inc. (NYSE:PK) saw an uptick in trading volume on Tuesday . 3,499,974 shares changed hands during mid-day trading, a decline of 19% from the previous session’s volume of 4,301,219 shares.The stock last traded at $14.3560 and had previously closed at $14.12.

Analyst Ratings Changes

Several analysts have commented on the stock. Wells Fargo & Company raised their price objective on shares of Park Hotels & Resorts from $10.00 to $12.00 and gave the stock an “equal weight” rating in a report on Monday, June 1st. Weiss Ratings upgraded shares of Park Hotels & Resorts from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, May 20th. Barclays raised their price objective on shares of Park Hotels & Resorts from $9.00 to $12.00 and gave the stock an “equal weight” rating in a report on Monday, June 1st. Cantor Fitzgerald restated a “neutral” rating and issued a $12.00 price objective on shares of Park Hotels & Resorts in a report on Wednesday, May 13th. Finally, Wall Street Zen upgraded shares of Park Hotels & Resorts from a “sell” rating to a “hold” rating in a report on Sunday, March 1st. One equities research analyst has rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Park Hotels & Resorts has an average rating of “Reduce” and a consensus target price of $12.15.

Park Hotels & Resorts Stock Down 1.7%

The company’s fifty day moving average price is $11.60 and its 200-day moving average price is $11.18. The stock has a market capitalization of $2.80 billion, a PE ratio of -12.77, a price-to-earnings-growth ratio of 1.93 and a beta of 1.37. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.27.

Park Hotels & Resorts (NYSE:PK) last released its earnings results 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). Park Hotels & Resorts had a negative net margin of 8.49% and a negative return on equity of 6.71%. The business had revenue of $622.00 million for the quarter, compared to analysts’ expectations of $609.78 million. During the same quarter in the previous year, the business posted $0.46 earnings per share. Park Hotels & Resorts’s revenue for the quarter was down 1.3% on a year-over-year basis. Park Hotels & Resorts has set its FY 2026 guidance at 1.740-1.900 EPS. Analysts forecast that Park Hotels & Resorts Inc. will post 1.74 earnings per share for the current year.

Park Hotels & Resorts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 7.2%. The ex-dividend date is Tuesday, June 30th. Park Hotels & Resorts’s dividend payout ratio (DPR) is presently -91.74%.

Hedge Funds Weigh In On Park Hotels & Resorts

A number of hedge funds have recently added to or reduced their stakes in the company. Donald Smith & CO. Inc. raised its holdings in Park Hotels & Resorts by 14.2% in the 4th quarter. Donald Smith & CO. Inc. now owns 14,617,921 shares of the financial services provider’s stock worth $152,903,000 after acquiring an additional 1,813,338 shares during the last quarter. Bank of America Corp DE raised its holdings in Park Hotels & Resorts by 1.6% in 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 acquiring an additional 203,922 shares during the last quarter. AQR Capital Management LLC raised its holdings in Park Hotels & Resorts by 76.7% in 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 acquiring an additional 3,361,382 shares during the last quarter. Sculptor Capital LP raised its holdings in Park Hotels & Resorts by 154.1% in the 2nd quarter. Sculptor Capital LP now owns 6,534,153 shares of the financial services provider’s stock worth $66,844,000 after acquiring an additional 3,962,304 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Park Hotels & Resorts by 6.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,257,003 shares of the financial services provider’s stock worth $44,528,000 after acquiring an additional 273,410 shares during the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

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.