PK News and Press, Park Hotels & Resorts Inc. From 02/27/23

Summary Bill Ackman’s 13F portfolio value increased from $7.88B to $8.78B this quarter. Pershing Square increased Howard Hughes Corp. substantially this quarter. The largest three 13F positions are Lowe's Companies, Restaurant Brands, and Chipotle Mexican Grill. They together...

Summary U.S. equity markets posted their worst week of the year as benchmark interest rates jumped to three-month highs on data showing a surprising reacceleration in inflation and economic activity in January. Declining for a third straight week - a skid that follows a stretch of four-...

Park Hotels & Resorts press release ( NYSE: PK ): Q4 FFO of $0.45 beats by $0.05 . Revenue of $665M (+47.5% Y/Y) beats by $12.68M . Sees Q1 2023 AFFO per share of $0.30 to $0.37. The consensus FFO estimate is $0.34. Sees FY 2023 AFFO per share of $1.60 to $...

Park Hotels & Resorts press release ( NYSE: PK ): Q4 FFO of $0.40 in-line. Revenue of $665M (+47.5% Y/Y) beats by $12.68M . 1Q23 Guidance: Adj FFO of $0.30-$0.37. FY23 Guidance: Adj FFO of $1.60-$1.99. For further details see: Park Hotels & Resort...

TYSONS, Va., Feb. 22, 2023 (GLOBE NEWSWIRE) -- Park Hotels & Resorts Inc. (“Park” or the “Company”) (NYSE: PK) today announced results for the fourth quarter and full year ended December 31, 2022 and provided an operational update. Selected Statistic...

Summary Although Lodging REITs have not rebounded to pre-Covid levels, we thought it would be valuable to provide investors with an update. Keep in mind, we are underweight Lodging, which means that investors should maintain responsible diversification. In this article, we highlight...

Summary U.S. equity markets extended their rebound this week after the Federal Reserve slowed its pace of interest rate hikes while strong employment data alongside cooling wage pressures supported "soft landing" prospects. Gaining for the fourth week in the past five, the S&P 500 a...

TYSONS, Va., Feb. 02, 2023 (GLOBE NEWSWIRE) -- Park Hotels & Resorts Inc. (“Park” or the “Company”) (NYSE:PK) today announced that it has closed on the sale of the 508-room Hilton Miami Airport located in Miami, FL for $118.25 million, or $233,000 per key. When adj...

Summary Park Hotels & Resorts is seeing a strong recovery in hotel operating fundamentals, driven by increasing travel demand. Management has done a good job of deleveraging the balance sheet and reinstating a meaningful dividend. Investors betting on a rebound may want to give ...

Summary Despite lingering recession concerns and recent travel disruptions, Hotel REITs have been among the better-performing sectors over the past year, buoyed by steady post-pandemic operating improvement fueling long-awaited dividend resumptions. Several years of pent-up leisure dema...