307,008 Shares in Park Hotels & Resorts Inc. $PK Acquired by Fideuram Intesa Sanpaolo Private Banking S.P.A.

Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new position in shares of Park Hotels & Resorts Inc. (NYSE:PK) during the first quarter, HoldingsChannel.com reports. The firm bought 307,008 shares of the financial services provider’s stock, valued at approximately $3,233,000.

Several other large investors have also added to or reduced their stakes in the company. Amundi boosted its position in shares of Park Hotels & Resorts by 1.9% in the first quarter. Amundi now owns 115,143 shares of the financial services provider’s stock worth $1,119,000 after purchasing an additional 2,179 shares during the period. Millennium Management LLC raised its position in shares of Park Hotels & Resorts by 849.3% during the 1st quarter. Millennium Management LLC now owns 523,851 shares of the financial services provider’s stock valued at $5,595,000 after purchasing an additional 468,668 shares during the period. United Services Automobile Association purchased a new position in shares of Park Hotels & Resorts during the 1st quarter valued at $152,000. Empowered Funds LLC lifted its stake in shares of Park Hotels & Resorts by 10.1% during the 1st quarter. Empowered Funds LLC now owns 22,380 shares of the financial services provider’s stock valued at $239,000 after buying an additional 2,058 shares in the last quarter. Finally, Focus Partners Wealth lifted its stake in shares of Park Hotels & Resorts by 30.6% during the 1st quarter. Focus Partners Wealth now owns 18,646 shares of the financial services provider’s stock valued at $199,000 after buying an additional 4,374 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Park Hotels & Resorts Stock Performance

NYSE PK opened at $14.41 on Friday. 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 stock has a market capitalization of $2.90 billion, a PE ratio of -13.22, a P/E/G ratio of 1.94 and a beta of 1.33. Park Hotels & Resorts Inc. has a 1-year low of $9.84 and a 1-year high of $14.95. The business has a 50 day simple moving average of $12.80 and a two-hundred day simple moving average of $11.63.

Park Hotels & Resorts (NYSE:PK) last posted its earnings results on Thursday, April 30th. The financial services provider reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $609.77 million. During the same period last year, the business posted $0.46 earnings per share. The company’s revenue for the quarter was down 1.3% compared to the same quarter last year. Park Hotels & Resorts has set its FY 2026 guidance at 1.740-1.900 EPS. On average, research analysts predict that Park Hotels & Resorts Inc. will post 1.76 EPS for the current fiscal year.

Park Hotels & Resorts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.9%. The ex-dividend date of this dividend is Tuesday, June 30th. Park Hotels & Resorts’s dividend payout ratio (DPR) is presently -91.74%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PK. BMO Capital Markets reiterated a “market perform” rating and issued a $14.00 price target on shares of Park Hotels & Resorts in a research note on Friday, June 12th. Cantor Fitzgerald restated a “neutral” rating and issued a $12.00 price objective on shares of Park Hotels & Resorts in a research report on Wednesday, May 13th. Truist Financial upped their price objective on Park Hotels & Resorts from $12.00 to $13.00 and gave the stock a “hold” rating in a research note on Tuesday, May 26th. Morgan Stanley increased their target price on 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, Barclays boosted their price target on Park Hotels & Resorts from $9.00 to $12.00 and gave the stock an “equal weight” rating in a report on Monday, June 1st. One analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of $12.95.

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.