DigitalBridge Group Inc. Has $2.97 Million Stock Position in Park Hotels & Resorts Inc. $PK

DigitalBridge Group Inc. decreased its holdings in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 24.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 268,300 shares of the financial services provider’s stock after selling 87,900 shares during the quarter. DigitalBridge Group Inc. owned about 0.13% of Park Hotels & Resorts worth $2,973,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. California State Teachers Retirement System increased its position in shares of Park Hotels & Resorts by 0.5% during the second quarter. California State Teachers Retirement System now owns 192,452 shares of the financial services provider’s stock valued at $1,969,000 after purchasing an additional 968 shares during the period. Advisors Asset Management Inc. increased its position in shares of Park Hotels & Resorts by 0.8% during the 3rd quarter. Advisors Asset Management Inc. now owns 125,051 shares of the financial services provider’s stock worth $1,386,000 after purchasing an additional 1,038 shares in the last quarter. Kera Capital Partners Inc. raised its stake in shares of Park Hotels & Resorts by 13.3% in the third quarter. Kera Capital Partners Inc. now owns 14,583 shares of the financial services provider’s stock valued at $162,000 after acquiring an additional 1,714 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in Park Hotels & Resorts by 16.7% in the third quarter. Jones Financial Companies Lllp now owns 12,239 shares of the financial services provider’s stock worth $141,000 after purchasing an additional 1,748 shares in the last quarter. Finally, Pitcairn Co. increased its stake in shares of Park Hotels & Resorts by 13.7% in the second quarter. Pitcairn Co. now owns 15,029 shares of the financial services provider’s stock valued at $154,000 after buying an additional 1,814 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Park Hotels & Resorts Stock Performance

PK opened at $10.49 on Wednesday. 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 Inc. has a 52-week low of $8.27 and a 52-week high of $12.39. The firm has a market cap of $2.11 billion, a P/E ratio of -7.33 and a beta of 1.40. The business’s fifty day moving average is $11.18 and its 200-day moving average is $11.04.

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

Park Hotels & Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 9.5%. The ex-dividend date is Tuesday, March 31st. Park Hotels & Resorts’s dividend payout ratio is presently -69.93%.

Insider Activity

In other news, Director Christie B. Kelly purchased 2,949 shares of the stock in a transaction on Wednesday, January 14th. The stock was purchased at an average price of $11.19 per share, for a total transaction of $32,999.31. Following the acquisition, the director owned 150,501 shares in the company, 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 Securities & Exchange Commission, which is available at the SEC website. 1.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on PK. Cantor Fitzgerald boosted their price objective on shares of Park Hotels & Resorts from $11.00 to $12.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 3rd. Truist Financial decreased their price target on shares of Park Hotels & Resorts from $12.00 to $11.00 and set a “hold” rating for the company in a report on Tuesday, February 3rd. Wells Fargo & Company reduced their price target on shares of Park Hotels & Resorts from $12.00 to $11.00 and set an “equal weight” rating for the company in a report on Monday, December 1st. Zacks Research raised Park Hotels & Resorts from a “strong sell” rating to a “hold” rating in a research report on Thursday, February 19th. Finally, Evercore dropped their target price on Park Hotels & Resorts from $13.00 to $12.00 and set an “in-line” rating on the stock in a research report on Thursday, November 20th. Two analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $11.27.

Park Hotels & Resorts 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.