Park Hotels & Resorts Inc. (NYSE:PK) to Issue Quarterly Dividend of $0.25

Park Hotels & Resorts Inc. (NYSE:PK) declared a quarterly dividend on Thursday, February 20th, Wall Street Journal reports. Shareholders of record on Monday, March 31st will be given a dividend of 0.25 per share by the financial services provider on Tuesday, April 15th. This represents a $1.00 dividend on an annualized basis and a yield of 7.68%. The ex-dividend date is Monday, March 31st.

Park Hotels & Resorts has a dividend payout ratio of 111.1% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Park Hotels & Resorts to earn $2.22 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 45.0%.

Park Hotels & Resorts Stock Down 0.5 %

Park Hotels & Resorts stock opened at $13.03 on Friday. The firm has a market cap of $2.69 billion, a price-to-earnings ratio of 12.90, a P/E/G ratio of 1.52 and a beta of 2.00. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.51 and a quick ratio of 1.51. Park Hotels & Resorts has a fifty-two week low of $12.56 and a fifty-two week high of $18.05. The firm has a fifty day moving average price of $13.82 and a two-hundred day moving average price of $14.31.

Park Hotels & Resorts (NYSE:PK) last released its earnings results on Wednesday, February 19th. The financial services provider reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.01). The firm had revenue of $625.00 million for the quarter, compared to analyst estimates of $609.05 million. Park Hotels & Resorts had a return on equity of 5.58% and a net margin of 8.16%. As a group, analysts forecast that Park Hotels & Resorts will post 2.11 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on PK shares. Compass Point reduced their target price on shares of Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Jefferies Financial Group reduced their target price on shares of Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating for the company in a research note on Thursday, January 2nd. StockNews.com cut shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research note on Friday. UBS Group reduced their target price on shares of Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating for the company in a research note on Monday, February 3rd. Finally, Wells Fargo & Company reduced their target price on shares of Park Hotels & Resorts from $17.00 to $14.00 and set an “equal weight” rating for the company in a research note on Tuesday. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Park Hotels & Resorts currently has a consensus rating of “Hold” and a consensus target price of $18.15.

About Park Hotels & Resorts

Park Hotels & Resorts, Inc operates as a real estate investment trust, which owns and operates hotels and resorts. It operates through the Consolidated Hotels and Unconsolidated Hotels segments. Its portfolio of hotels and resorts include the Waldorf Astoria Hotels and Resorts, Conrad Hotels & Resorts, Hilton Hotels & Resorts, DoubleTree by Hilton, Embassy Suites by Hilton, Hilton Garden Inn, Hampton by Hilton, and Curio.