Professional
Added to YB: 2024-04-30
Pitch date: 2024-03-31
PK [bullish]
Park Hotels & Resorts Inc.
-22.69%
current return
Author Info
No bio for this author
Company Info
Park is one of the largest publicly-traded lodging real estate investment trusts (“REIT”) with a diverse portfolio of iconic and market-leading hotels and resorts with significant underlying real estate value.
Market Cap
$2.2B
Pitch Price
$14.77
Price Target
N/A
Dividend
8.93%
EV/EBITDA
11.35
P/E
-167.25
EV/Sales
2.63
Sector
Hotel and Resort REITs
Category
value
Baron Real Estate Income Fund New Portfolio Holding: Park Hotels & Resorts Inc.
PK: Acquired stake in undervalued hotel REIT trading below NAV & peers. Catalysts: 1) Reno projects driving outsized growth 2) Diverse demand drivers w/ group recovery 3) Hawaii exposure (1/3 of CF) to see Japanese travel boom (+400% upside) 4) Improved portfolio & B/S post-SF sales 5) High-single-digit div yield
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