Park Hotels & Resorts (NYSE:PK) Downgraded by StockNews.com

StockNews.com cut shares of Park Hotels & Resorts (NYSE:PK) from a hold rating to a sell rating in a research note published on Tuesday morning.

Several other analysts also recently commented on the stock. Citigroup raised shares of Park Hotels & Resorts from a neutral rating to a buy rating and raised their price objective for the stock from $14.00 to $20.00 in a research report on Friday, March 22nd. Truist Financial lifted their price target on shares of Park Hotels & Resorts from $20.00 to $21.00 and gave the company a buy rating in a research note on Thursday, March 14th. UBS Group raised their target price on Park Hotels & Resorts from $14.00 to $18.00 and gave the company a neutral rating in a research note on Wednesday, March 6th. Barclays boosted their target price on Park Hotels & Resorts from $19.00 to $21.00 and gave the company an overweight rating in a research report on Friday, March 1st. Finally, Wells Fargo & Company raised their price objective on Park Hotels & Resorts from $17.00 to $18.00 and gave the company an equal weight rating in a research note on Thursday, March 21st. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of Hold and a consensus price target of $17.58.

Park Hotels & Resorts Price Performance

Shares of NYSE PK opened at $16.73 on Tuesday. The company has a market capitalization of $3.52 billion, a PE ratio of 36.37, a P/E/G ratio of 0.61 and a beta of 2.03. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 1.19. Park Hotels & Resorts has a twelve month low of $11.05 and a twelve month high of $18.05. The firm has a fifty day simple moving average of $16.82 and a 200 day simple moving average of $15.36.

Park Hotels & Resorts (NYSE:PK) last issued its quarterly earnings results on Tuesday, February 27th. The financial services provider reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.39. Park Hotels & Resorts had a return on equity of 2.44% and a net margin of 3.60%. The firm had revenue of $657.00 million during the quarter, compared to the consensus estimate of $665.16 million. On average, sell-side analysts forecast that Park Hotels & Resorts will post 2.06 EPS for the current year.

Park Hotels & Resorts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.00 annualized dividend and a yield of 5.98%. Park Hotels & Resorts’s dividend payout ratio (DPR) is currently 217.39%.

Institutional Trading of Park Hotels & Resorts

Institutional investors and hedge funds have recently made changes to their positions in the company. Raleigh Capital Management Inc. purchased a new position in Park Hotels & Resorts during the fourth quarter worth about $35,000. FNY Investment Advisers LLC bought a new position in shares of Park Hotels & Resorts during the 4th quarter worth approximately $42,000. Spire Wealth Management lifted its position in shares of Park Hotels & Resorts by 20.1% during the 3rd quarter. Spire Wealth Management now owns 5,145 shares of the financial services provider’s stock worth $63,000 after buying an additional 860 shares in the last quarter. Covestor Ltd boosted its stake in shares of Park Hotels & Resorts by 31.5% in the 3rd quarter. Covestor Ltd now owns 5,596 shares of the financial services provider’s stock worth $69,000 after buying an additional 1,340 shares during the last quarter. Finally, Signaturefd LLC grew its holdings in shares of Park Hotels & Resorts by 12.7% in the fourth quarter. Signaturefd LLC now owns 6,437 shares of the financial services provider’s stock valued at $98,000 after acquiring an additional 727 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Park Hotels & Resorts Company Profile

Park is one of the largest publicly traded lodging REITs with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value. Park's portfolio currently consists of 43 premium-branded hotels and resorts with over 26,000 rooms primarily located in prime city center and resort locations.