During times of turbulence and uncertainty in the markets, many investors turn to dividend-yielding stocks. These are often companies that have high free cash flows and reward shareholders with a high dividend payout.Below are the ratings of the most accurate analysts for three high-yielding stocks in the real estate sector.Brandywine Realty Trust (NYSE:BDN)Park Hotels & Resorts Inc (NYSE:PK)SL Green Realty Corp (NYSE:SLG)Photo via Shutterstock ...

During times of turbulence and uncertainty in the markets, many investors turn to dividend-yielding stocks. These are often companies that have high free cash flows and reward shareholders with a high dividend payout.Below are the ratings of the most accurate analysts for three high-yielding stocks in the real estate sector.Brandywine Realty Trust (NYSE:BDN)Park Hotels & Resorts Inc (NYSE:PK)SL Green Realty Corp (NYSE:SLG)Photo via Shutterstock ...

Group 1 - The analyst has over a decade of experience researching various companies across different sectors, including commodities like oil, natural gas, gold, and copper, as well as technology firms such as Google and Nokia [1] - The analyst has transitioned from writing a blog to creating a value investing-focused YouTube channel, where extensive research on hundreds of companies has been conducted [1] - The analyst expresses a particular interest in covering metals and mining stocks, while also being comfortable with other industries such as consumer discretionary/staples, REITs, and utilities [1]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________________________________________________ FORM 10-K ________________________________________________________ (Mark One) S ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___ to ___ Commission File Numb ...

Financial Data and Key Metrics Changes - In Q4 2025, RevPAR was approximately $182, reflecting a nearly 1% year-over-year increase, or nearly 3% when excluding the Royal Palm [20] - For the full year, RevPAR declined 2% versus 2024, while hotel adjusted EBITDA margin was 26.5%, a reduction of 130 basis points from the prior year [21] - Core hotel adjusted EBITDA margin improved by 230 basis points to 30%, contrasting with a 280 basis point contraction to 10% in the non-core portfolio [20][21] Business Line Data and Key Metrics Changes - The core portfolio delivered a RevPAR increase of 6% to nearly $216, significantly outperforming the non-core portfolio by nearly 1,500 basis points [20] - Q4 group revenue for the core portfolio increased 13% year-over-year, with double-digit growth in banquet and catering revenues across key markets [11] - The Royal Palm renovation is expected to generate a 15%-20% return on invested capital, with projected EBITDA doubling from $14 million to nearly $28 million once stabilized [16] Market Data and Key Metrics Changes - Hawaii's RevPAR growth is expected to be on the higher end of the 2% range, with mid-single-digit EBITDA growth anticipated for the Hawaiian properties [37] - Orlando's Bonnet Creek complex achieved record Q4 RevPAR, up nearly 9% year-over-year, driven by a 15% increase in group revenues [13] - New York delivered its highest Q4 group revenue in hotel history, up over 8% year-over-year [14] Company Strategy and Development Direction - The company is focused on reshaping its portfolio by concentrating ownership in 21 core hotels with superior growth prospects and aggressively exiting non-core assets [6][7] - In 2025, the company executed over $120 million in non-core sales at a blended multiple of 21x, with a goal to materially reduce exposure to non-core properties by year-end [9] - The company plans to complete a comprehensive redevelopment of the Royal Palm and launch a full-scale renovation of the Ali'i Tower at Hilton Hawaiian Village [24] Management's Comments on Operating Environment and Future Outlook - The management remains optimistic about the U.S. economy's firm footing, with expectations of modest growth and easing inflation supporting consumer demand [16] - The company anticipates a multi-year recovery in Hawaii, with demand trends forecasted to improve as renovations are completed [12] - Guidance for 2026 includes a RevPAR growth range of flat to +2%, with cautious expectations due to potential geopolitical or macroeconomic volatility [28] Other Important Information - The company returned a total of $245 million of capital in 2025, including $200 million in dividends and $45 million in share repurchases [32] - As of year-end 2025, the company's liquidity was approximately $2 billion, including $200 million in cash [25] Q&A Session Summary Question: Earnings trajectory for Hawaii properties - Management indicated that Hawaii properties should see mid-single-digit EBITDA growth, with RevPAR growth expected to be around 2% [37] Question: Sequential change in Hilton Hawaiian Village performance - Management noted a 37% decrease in group pace for Q1, impacting expected performance [45] Question: Timeline for Miami's Royal Palm reopening and World Cup demand - Management expressed confidence in meeting the June reopening target and capturing World Cup demand, although they remain conservative in their estimates [50] Question: Non-core asset sales and potential for core hotel sales - Management emphasized the focus on non-core asset sales, noting that core hotels account for 90% of EBITDA and value, making them less likely to be sold [70] Question: Impact of New York labor contract negotiations - Management is optimistic about reaching an agreement without disruptions, especially with the upcoming World Cup [92]

Financial Data and Key Metrics Changes - In Q4 2025, RevPAR was approximately $182, reflecting a nearly 1% year-over-year increase, or nearly 3% when excluding the Royal Palm [20] - For the full year, RevPAR declined 2% versus 2024, while hotel adjusted EBITDA margin was 26.5%, a reduction of 130 basis points from the prior year [21] - Core hotel adjusted EBITDA margin improved by 230 basis points to 30%, contrasting with a 280 basis point contraction in the non-core portfolio [20][21] Business Line Data and Key Metrics Changes - The core portfolio delivered a RevPAR increase of 6% to nearly $216, significantly outperforming the non-core portfolio by nearly 1,500 basis points [20] - Fourth quarter group revenue for the core portfolio increased 13% year-over-year, with double-digit growth in banquet and catering revenues across key markets [11] - The Royal Palm renovation is expected to generate a 15%-20% return on invested capital, with projected EBITDA doubling from $14 million to nearly $28 million once stabilized [16] Market Data and Key Metrics Changes - The core portfolio outperformed the non-core hotels by an average of 480 basis points in 2025, reinforcing the company's strategic focus [10] - Hawaii is expected to be a significant contributor to earnings growth, with a multiyear recovery anticipated as demand trends improve [12] - New York delivered its highest fourth quarter group revenue in hotel history, up over 8% year-over-year, indicating strong market performance [14] Company Strategy and Development Direction - The company is focused on reshaping its portfolio by concentrating ownership in 21 core hotels with superior growth prospects and aggressively exiting non-core assets [6][8] - Over $120 million in non-core sales were executed at a blended multiple of 21x, with a strong track record of successfully recycling capital [7] - The company aims to complete its transition to a streamlined portfolio of high-quality hotels located in premium gateway cities and resort markets [18] Management's Comments on Operating Environment and Future Outlook - The U.S. economy remains on firm footing, with modestly higher growth expectations and easing inflation, which should support consumer demand [16] - The company remains cautious in its guidance due to potential geopolitical or macroeconomic volatility impacting booking decisions [17] - Management is optimistic about the setup for 2026, with anticipated demand boosts from major events like the World Cup [17] Other Important Information - The company invested nearly $300 million across the portfolio in 2025, with a planned reduction in capital investment for 2026 to $230 million-$260 million [22][24] - As of year-end 2025, liquidity was approximately $2 billion, including $200 million in cash and $1 billion in available capacity under the revolver [25] - The company returned a total of $245 million of capital in 2025, including $200 million in dividends and $45 million in share repurchases [32] Q&A Session Summary Question: Earnings trajectory for Hawaii properties - Management indicated that Hawaii properties should see mid-single-digit EBITDA growth, with RevPAR growth expected to be on the higher end of the 2% range [36][38] Question: Sequential change in Hilton Hawaiian Village performance - Management noted a 37% decrease in group pace for Q1, impacting expected performance despite a strong Q4 [45] Question: Non-core asset sales and potential for core hotel sales - Management emphasized a focus on non-core asset sales, with core hotels accounting for 90% of EBITDA and value, making them less likely to be sold [70][72] Question: Impact of World Cup on Miami property - Management expressed confidence in capturing demand from the World Cup, with the Royal Palm expected to open in early June [49][75] Question: Future growth and potential acquisitions - Management is optimistic about transitioning to an offensive strategy post non-core asset sales, with potential for acquisitions in the future [81][82]

Financial Data and Key Metrics Changes - For the fourth quarter, RevPAR was approximately $182, representing a nearly 1% year-over-year increase, or nearly 3% when excluding Royal Palm [19] - Core hotel Adjusted EBITDA margin improved materially, expanding 230 basis points to 30%, while the non-core portfolio recorded a 280 basis point contraction to 10% [19] - For the full year, RevPAR declined 2% versus 2024, while hotel adjusted EBITDA margin was 26.5%, reflecting a 130 basis points reduction from the prior year [20] Business Line Data and Key Metrics Changes - The core portfolio delivered a solid 3.2% increase in RevPAR during the fourth quarter, or 5.7% excluding the Royal Palm, outperforming the non-core portfolio by nearly 1,500 basis points [9] - Fourth quarter group revenue for the core portfolio increased 13% year-over-year, with double-digit growth in banquet and catering revenues across several key markets [10] - Core hotel adjusted EBITDA increased 13%, or nearly $18 million over the prior year period, despite an over $4 million headwind from Royal Palm being closed [20] Market Data and Key Metrics Changes - Hawaii showed signs of recovery, with expectations for multiyear recovery towards prior peak levels, driven by improving leisure transient demand following extensive room renovations [11] - Orlando's Bonnet Creek complex generated a record fourth quarter RevPAR, up nearly 9% year-over-year, driven by a 15% increase in group revenues [12] - New York delivered its highest fourth quarter group revenue in hotel history, up over 8% year-over-year [13] Company Strategy and Development Direction - The company is focused on reshaping and upgrading its portfolio, concentrating ownership in 21 core hotels with superior growth prospects and aggressively exiting non-core assets [5] - The company executed more than $120 million in non-core sales at a blended multiple of 21x, with a strong track record of successfully recycling capital [6] - The company plans to complete its transition to a streamlined portfolio of high-quality hotels located in premium gateway cities and resort markets [17] Management's Comments on Operating Environment and Future Outlook - The U.S. economy remains on relatively firm footing, with modestly higher growth expectations and easing inflation, which should support the U.S. consumer [14] - The company expects a blended RevPAR growth range of flat to +2% for 2026, with expense growth expected to be low single digits [27] - Management remains cautious about potential geopolitical or macroeconomic volatility impacting short-term group pickup trends and international inbound demand [16] Other Important Information - The company invested nearly $300 million across the portfolio in 2025, with plans for a lower level of capital investment for 2026, estimated at $230 million-$260 million [21] - As of year-end 2025, the company's liquidity was approximately $2 billion, including $200 million of cash and $1 billion of available capacity under its revolver [24] - The company returned a total of $245 million of capital in 2025, including $200 million of dividends and $45 million of share repurchases [30] Q&A Session Summary Question: Earnings trajectory for Hawaii properties - Management indicated that Hawaii properties should see mid-single-digit growth in EBITDA, with RevPAR growth expected in the 2% range [36] Question: Sequential change in Hilton Hawaiian Village performance - Management noted a 37% decrease in group pace for Q1, impacting expectations for performance [44] Question: Non-core asset sales and buyer interest - Management confirmed strong interest from various buyer types, including family offices and owner-operators, and emphasized the goal of completing non-core asset sales within 2026 [70] Question: Impact of labor negotiations in New York - Management expressed confidence in reaching a favorable outcome in labor negotiations, with expectations for continued strong performance in New York [92]

FOURTH QUARTER AND FULL YEAR 2025 SUPPLEMENTAL DATA DECEMBER 31, 2025 ABOUT PARK AND SAFE HARBOR DISCLOSURE TABLE OF CONTENTS | Financial Statements | 4 | | --- | --- | | Supplementary Financial Information | 7 | | Outlook and Assumptions | 14 | | Portfolio and Operating Metrics | 18 | | Properties Acquired and Sold | 25 | | Current Supplementary Financial Information | 28 | | Capital Structure | 33 | | Definitions | 35 | | Analyst Coverage | 40 | About Park Hotels & Resorts Inc. Park (NYSE: PK) is one of t ...

Core Insights - Park Hotels & Resorts reported quarterly funds from operations (FFO) of $0.51 per share, exceeding the Zacks Consensus Estimate of $0.48 per share, and up from $0.39 per share a year ago, representing a surprise of +7.14% [1] - The company achieved revenues of $629 million for the quarter ended December 2025, surpassing the Zacks Consensus Estimate by 1.39%, and compared to $625 million in the same quarter last year [2] Financial Performance - Over the last four quarters, Park Hotels & Resorts has surpassed consensus FFO estimates three times [2] - The company has also topped consensus revenue estimates three times in the last four quarters [2] - The current consensus FFO estimate for the upcoming quarter is $0.44 on revenues of $613.5 million, and for the current fiscal year, it is $2.00 on revenues of $2.52 billion [7] Market Performance - Park Hotels & Resorts shares have increased approximately 9.3% since the beginning of the year, while the S&P 500 has gained only 0.5% [3] - The stock currently holds a Zacks Rank 4 (Sell), indicating expectations of underperformance in the near future due to unfavorable estimate revisions prior to the earnings release [6] Industry Context - The REIT and Equity Trust - Other industry, to which Park Hotels & Resorts belongs, is currently ranked in the bottom 32% of over 250 Zacks industries, suggesting potential challenges ahead [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in estimate revisions, which could impact investor sentiment [5]

On February 17, 2026, Connecticut-based H/2 Credit Manager disclosed in a Securities and Exchange Commission filing that it sold 741,040 shares of Park Hotels & Resorts (NYSE:PK), an estimated $7.94 million transaction based on quarterly average pricing. What happened According to a Securities and Exchange Commission (SEC) filing dated February 17, 2026, H/2 Credit Manager LP sold 741,040 shares of Park Hotels & Resorts (NYSE:PK) during the fourth quarter of 2025. The estimated transaction value is $7.94 ...