DigitalBridge Group Inc. Makes New $3.64 Million Investment in Park Hotels & Resorts Inc. $PK

DigitalBridge Group Inc. acquired a new stake in shares of Park Hotels & Resorts Inc. (NYSE:PK - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 356,200 shares of the financial services provider's stock, valued at approximately $3,644,000. DigitalBridge Group Inc. owned 0.18% of Park Hotels & Resorts at the end of the most recent reporting period.

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Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bessemer Group Inc. lifted its position in Park Hotels & Resorts by 359.3% during the second quarter. Bessemer Group Inc. now owns 3,082 shares of the financial services provider's stock valued at $32,000 after purchasing an additional 2,411 shares in the last quarter. IFP Advisors Inc lifted its position in shares of Park Hotels & Resorts by 469.0% during the 2nd quarter. IFP Advisors Inc now owns 3,465 shares of the financial services provider's stock valued at $35,000 after buying an additional 2,856 shares in the last quarter. Allworth Financial LP lifted its position in shares of Park Hotels & Resorts by 322.4% during the 2nd quarter. Allworth Financial LP now owns 3,920 shares of the financial services provider's stock valued at $40,000 after buying an additional 2,992 shares in the last quarter. Quarry LP grew its stake in shares of Park Hotels & Resorts by 186.6% during the 1st quarter. Quarry LP now owns 7,170 shares of the financial services provider's stock valued at $77,000 after acquiring an additional 4,668 shares during the period. Finally, GAMMA Investing LLC increased its holdings in Park Hotels & Resorts by 71.7% in the 2nd quarter. GAMMA Investing LLC now owns 9,072 shares of the financial services provider's stock worth $93,000 after acquiring an additional 3,789 shares in the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Park Hotels & Resorts Stock Performance

NYSE PK opened at $10.68 on Thursday. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.04 and a quick ratio of 1.04. Park Hotels & Resorts Inc. has a 1-year low of $8.27 and a 1-year high of $16.23. The business has a 50 day simple moving average of $10.75 and a two-hundred day simple moving average of $10.87. The stock has a market capitalization of $2.13 billion, a PE ratio of -152.50 and a beta of 1.45.

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Park Hotels & Resorts (NYSE:PK - Get Free Report) last issued its quarterly earnings data on Thursday, October 30th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.08). Park Hotels & Resorts had a negative return on equity of 1.25% and a negative net margin of 0.47%.The firm had revenue of $610.00 million for the quarter, compared to analysts' expectations of $617.05 million. During the same period last year, the company earned $0.49 earnings per share. The firm's revenue was down 6.0% on a year-over-year basis. Park Hotels & Resorts has set its FY 2025 guidance at 1.850-1.970 EPS. On average, research analysts predict that Park Hotels & Resorts Inc. will post 2.11 EPS for the current fiscal year.

Park Hotels & Resorts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.4%. The ex-dividend date of this dividend is Wednesday, December 31st. Park Hotels & Resorts's dividend payout ratio (DPR) is presently -1,428.57%.

Wall Street Analyst Weigh In

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Several equities analysts have weighed in on the stock. Citigroup downgraded shares of Park Hotels & Resorts from a "buy" rating to a "neutral" rating and lowered their price target for the company from $13.00 to $12.00 in a report on Tuesday, September 9th. Weiss Ratings restated a "sell (d+)" rating on shares of Park Hotels & Resorts in a research note on Monday. Cantor Fitzgerald assumed coverage on Park Hotels & Resorts in a report on Wednesday, October 1st. They set a "neutral" rating and a $12.00 price target on the stock. Wells Fargo & Company dropped their price objective on Park Hotels & Resorts from $12.00 to $11.00 and set an "equal weight" rating for the company in a research note on Monday. Finally, Evercore ISI cut their target price on Park Hotels & Resorts from $13.00 to $12.00 and set an "in-line" rating for the company in a research report on Thursday, November 20th. One research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, Park Hotels & Resorts presently has a consensus rating of "Reduce" and a consensus price target of $11.00.

Check Out Our Latest Stock Report on Park Hotels & Resorts

Park Hotels & Resorts Company Profile

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.

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