Park Hotels & Resorts Inc. (NYSE:PK) Given Consensus Rating of “Hold” by Analysts

Park Hotels & Resorts Inc. (NYSE:PK) has been given an average recommendation of “Hold” by the thirteen ratings firms that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, eleven have given a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $13.5455.

A number of brokerages have recently issued reports on PK. Truist Financial increased their price objective on shares of Park Hotels & Resorts from $12.00 to $13.00 and gave the stock a “hold” rating in a research note on Tuesday, May 26th. LADENBURG THALM/SH SH lifted their price objective on Park Hotels & Resorts from $16.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, June 16th. Cantor Fitzgerald upped their target price on shares of Park Hotels & Resorts from $12.00 to $15.00 and gave the company a “neutral” rating in a research report on Tuesday. Morgan Stanley raised their price target on Park Hotels & Resorts from $10.50 to $11.00 and gave the stock an “equal weight” rating in a research report on Friday, July 17th. Finally, Weiss Ratings upgraded Park Hotels & Resorts from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday.

Park Hotels & Resorts Stock Performance

Shares of NYSE PK opened at $14.81 on Thursday. Park Hotels & Resorts has a 12-month low of $9.84 and a 12-month high of $15.48. The firm has a 50 day moving average of $14.56 and a 200 day moving average of $12.36. The company has a current ratio of 1.53, a quick ratio of 1.25 and a debt-to-equity ratio of 1.29. The firm has a market capitalization of $2.98 billion, a price-to-earnings ratio of -17.84, a price-to-earnings-growth ratio of 1.90 and a beta of 1.34.

Park Hotels & Resorts (NYSE:PK) last announced its earnings results on Wednesday, August 5th. The financial services provider reported $0.24 EPS for the quarter, hitting analysts’ consensus estimates of $0.24. The company had revenue of $680.00 million for the quarter, compared to analysts’ expectations of $659.68 million. Park Hotels & Resorts had a negative return on equity of 5.23% and a negative net margin of 6.41%.Park Hotels & Resorts’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period last year, the firm earned $0.64 EPS. On average, research analysts anticipate that Park Hotels & Resorts will post 1.79 earnings per share for the current year.

Park Hotels & Resorts Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.8%. Park Hotels & Resorts’s dividend payout ratio (DPR) is -120.48%.

Institutional Trading of Park Hotels & Resorts

Several institutional investors and hedge funds have recently made changes to their positions in PK. Principal Securities Inc. raised its stake in Park Hotels & Resorts by 9.5% in the fourth quarter. Principal Securities Inc. now owns 10,684 shares of the financial services provider’s stock worth $112,000 after buying an additional 927 shares in the last quarter. California State Teachers Retirement System grew its stake in shares of Park Hotels & Resorts by 0.5% during the second quarter. California State Teachers Retirement System now owns 192,452 shares of the financial services provider’s stock worth $1,969,000 after acquiring an additional 968 shares during the last quarter. Versant Capital Management Inc grew its position in Park Hotels & Resorts by 10.5% during the 2nd quarter. Versant Capital Management Inc now owns 10,838 shares of the financial services provider’s stock worth $154,000 after purchasing an additional 1,030 shares during the last quarter. Fifth Third Bancorp grew its holdings in shares of Park Hotels & Resorts by 68.8% during the first quarter. Fifth Third Bancorp now owns 2,604 shares of the financial services provider’s stock valued at $27,000 after buying an additional 1,061 shares during the last quarter. Finally, Caitlin John LLC increased its holdings in shares of Park Hotels & Resorts by 4.6% in the fourth quarter. Caitlin John LLC now owns 24,774 shares of the financial services provider’s stock valued at $259,000 after purchasing an additional 1,100 shares during the period. 92.69% of the stock is currently owned by institutional investors.

About Park Hotels & Resorts

Park Hotels & Resorts Inc is a publicly traded real estate investment trust (REIT) specializing in luxury and upper-upscale hospitality properties. The company’s primary business activity involves owning and leasing premier hotels and resorts across major urban and resort destinations. Through long-term management and franchise agreements with leading hotel operators, Park generates revenue from room nights, food and beverage offerings, meetings and events, and ancillary services.

Since its spin-off from Hilton Worldwide in January 2017, Park Hotels & Resorts has assembled a diversified portfolio of more than 60 properties.