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Park Hotels & Resorts Inc. (PK)

NYSE - Nasdaq Real Time Price. Currency in USD
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11.80+0.55 (+4.89%)
At close: 04:00PM EDT
11.46 -0.34 (-2.88%)
After hours: 04:31PM EDT
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  • S
    Skytta
    When I started investing I had no clue what I was doing! Thanks to http://alert-sounds.com/, I was able to build a healthy portfolio with the help of their daily emails!
  • S
    Sayno2union
    What’s going on with park? I couldn’t find a hotel or motel room anywhere this summer and paid twice the normal price
  • S
    Steven
    I am buying. It is a gift at this price level!
    Bullish
  • j
    jk
    Who else is here from 2020 ??? Holding for the long term plus dividends...
    Bullish
  • M
    Michael
    Seems like this company is adverse to any real paying dividends. I thought PK was a REIT?
  • J
    Jonn
    Earnings seemed good…?
  • C
    Clyde
    I continue to watch, but a lot of new debt. May be a while before dividends get anywhere near historical levels
    Neutral
  • M
    Ma
    Mark Hake says sell but the stock is up 4+ %. Go figure.
  • S
    Steve-RationallyBullishOn1181
    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."
  • M
    Ma
    I’m thinking a dividend boost is coming soon. It’s got to happen but when ?
  • 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-RationallyBullishOn1181
    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$ !
  • 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.
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