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Park Hotels & Resorts Inc. (PK)

NYSE - NYSE Delayed Price. Currency in USD
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18.58-0.17 (-0.91%)
At close: 4:00PM EDT
18.54 -0.04 (-0.22%)
Pre-Market: 06:50AM EDT
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  • #
    #Conditioner
    Waiting for earnings to see if they will reinstate the dividends. Been holding for over a year @ $11.05
  • i
    ilic
    They had some interesting insights about PK on (http://Stocks-tracker.com). Definitely made me think twice about the company.
  • G
    Greenidge Investor
    It’s hotel assets are very high quality. This is the best hotel REIT imo. We all know this will be $30+ again one day. No brainer
    Bullish
  • f
    financial wizard
    Insider just purchases 10,000 shares. That should help inspire some confidence into the weak backdrop for PK recently.
  • S
    Steven
    Bought 1500 shares today. The price is below book value & headed higher. I plan to hold long term.
    Bullish
  • G
    Greenidge Investor
    Worst case scenario this stock falls back to $15-16 due to rising Covid cases and both low corporate and leisure demand. Best thing to do would be to DCA.
    Bullish
  • d
    david
    Impressed with CEO on Q/A on conference call. Tidbits include: NAV is at $27, will create tremendous value for shareholders, looking at adding a tower to Hilton Hawaiian Village complex, they waited to sell assets to deliver value back to the bal sheet, mandating staff is vaccinated, and “Leaders have to lead”. Well done
    Bullish
  • S
    Steve
    Longleaf Partners commented on their position in PK:

    "Park saw its occupancy levels hit unprecedented lows due to travel reduction and conference cancellations as a result of COVID-19. Park responded by closing all or parts of the majority of its owned hotels. We have evaluated the company’s debt (the next maturity is $700 million at the end of 2021) and liquidity (about $1.4 billion) and believe it will survive the crisis. CEO Tom Baltimore purchased shares personally after the stock’s sharp decline but still well above where it trades. The stock was deeply discounted at quarter end, but our appraisal of the value has declined with the loss of cash-flow. As we said above, it is in the third bucket, and we did not add during the quarter. Park trades at an extremely wide discount to both relatively stable replacement cost (it trades at less than 20% of that metric) and a fast moving value, providing a large margin of safety at today’s low price."
  • j
    jk
    PK is going to have a monster run in September !!!
    Bullish
  • J
    J
    PK is being accumulated today by large investors. 2 Million-share trades went through. It's lunch time and already the volume is 2x daily average. This company has done everything right by mothballing their hotel chain and raising liquidity. After paying-off the recent dividend they have about $4/share in cash.
  • S
    Simon
    I been doing nothing but researching the financial aspects of stocks I'm interested in. I was not sure about PK for the last week but if you just ignore the no income part for a minute. JUST 1 OF THEIR TOP TIER PROPERTIES IS WORTH OVER A BILLION DOLLARS. Just on the property value alone, their shares should be around $20 each. Who agrees with me. Give thumbs up. Im putting a large portion of my savings on this long term hold.
    Bullish
  • D
    Douglas
    I have been buying in some amounts in the $7-9 range so I am break-even on this stock so far. Definitely trending down. Factors for successful mostly out of the control of this company. If the corona virus under control in the next year or so, this company will survive and the stock price will recover. If the corona virus still spreading in two years, this company is in trouble and may file for bankruptcy. The Feds providing a lot of liquidity to the markets and don't want companies going out of business so the big picture seems to indicate that this company will survive. Long term if the corona virus situation gets better in the next year, this will be winner with the understanding that you may lose most of your money if it doesn't. I am betting on a more optimistic outlook and looking to buy more under $8 and holding on for a while.
    Bullish
  • S
    Steve
    Earnings out...CEO comment from earnings release:

    Thomas J. Baltimore, Jr., Chairman, President and Chief Executive Officer, stated, “I am proud of the focused and proactive efforts of the Park team and our operating and lending partners during this quarter as we worked together to respond to the unprecedented impact of the COVID-19 pandemic to our business. In addition to suspending operations at over half of the hotels in our portfolio in March, and consolidating operations at hotels that remain open, we proactively drew our $1 billion Revolver prior to the end of the quarter, giving us considerable financial flexibility to weather this extremely challenging operating environment. With our portfolio currently operating with only 15% of our rooms available, we have reduced hotel operating expenses by approximately 75% at the current occupancy levels and reduced our 2020 capex budget by approximately 75%. Additionally, last week, we amended our credit and term loan facilities to waive certain debt covenants through and including March 31, 2021 and extended the maturity of our revolving credit facility to December 2021. We received a unanimous vote from the syndicate of banks on the extension, highlighting the strong partnership and support we enjoy with our bank group. Our management team has managed several disruptive events throughout our careers, including natural disasters, 9/11 and the Great Recession. With $1.2 billion in current liquidity and a cash burn rate of $70 million per month in an extreme situation with all operations suspended, Park is well positioned to navigate the disruption from the COVID-19 pandemic.”
  • S
    Shai
    There were few interesting things on the earnings release.
    1. They are opening 20 more hotels that were closed and in total 53% of there's room would be available.
    2. They delayed all mortgage and loan payments until 31.3.21 with an option to delay it to 31.12.21 which is the most important thing.
    3.imporving the cash burn rate in a worst case when all hotels are closed to 65 million per month, which means 24 month of 0 income and still able to keep the head above the water.

    The numbers were ugly no doubt about it, but every investor that is holding the stock for more then 2 month now knew that already. So it's all comes to in what discount you bought the stock and when there will be a vaccine that will boost the stock to 16-18 easy..
    Bullish
  • D
    Dave
    I bought at 7$ , what a bargain! I'm holding for over a year now and increasing my stake, once the divided comes back, this is gonna be my passive income. + they gonna flourish this summer and the share price will be around 22$ !
  • A
    Ad
    if drops further tomorrow I'm getting some shares here, my portfolio is way too heavy with bio stocks

    do not expect if to fly, even if earnings are half positive, but I see this a safe-ish bet for mid/long term
    GLA
  • L
    Linck
    Declaration of long-term persistence: I solemnly declare that I absolutely will not panic sell, even if PK continues to drop another 90%. I am ready to lose all the money in PK, but I won't panic sell a single share.
  • a
    azim1207
    This is one of the most volatile stocks in the market. In fact over the past several months the stock has doubled on two seperate occasions -

    March 18 Close - $4.67
    March 26 Close - $9.42 (6 trading days later)

    May 13 Close - $6.93
    June 8 Close - $14.88 (17 trading days later)

    Friday's closing price of $8.53 is the lowest it has been since the third week of May. It might continue to go lower but I see the risk/reward favorable at this point for gigantic returns in the short-term. Those with a large risk appetite might want to consider establishing a position over the next several days because I believe most of the pessimism has already been priced into the stock.
    Bullish
  • D
    Dave
    - More hotels gonna open with "Covid Safety Standards" - the public will be able to take a vacation while staying safe if they follow protocols.

    - Their Average Daily rate per room has increased on a month by month basis.
    - They expect to be almost 100% open till 2021 even with no vaccine due to being rated as a highly hygienic hotel company.
    - They will improve Rev per room and sell more stuff to people that come to have a great time after a long waited period that it took the hotel industry to fit itself to COVID.
    Bullish
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