Park Hotels & Resorts (NYSE:PK) Sets New 52-Week High After Analyst Upgrade

Park Hotels & Resorts Inc. (NYSE:PK)’s stock price reached a new 52-week high during mid-day trading on Thursday after JPMorgan Chase & Co. raised their price target on the stock from $14.00 to $16.00. JPMorgan Chase & Co. currently has an underweight rating on the stock. Park Hotels & Resorts traded as high as $17.12 and last traded at $17.0050, with a volume of 5,806,854 shares trading hands. The stock had previously closed at $16.57.

A number of other research firms have also issued reports on PK. Weiss Ratings raised Park Hotels & Resorts from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, August 11th. Raymond James Financial raised Park Hotels & Resorts from a “market perform” rating to a “strong-buy” rating and set a $19.00 price objective for the company in a research report on Monday, September 28th. Cantor Fitzgerald upped their target price on shares of Park Hotels & Resorts from $12.00 to $15.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 11th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $18.00 target price on shares of Park Hotels & Resorts in a research note on Friday, August 14th. Finally, BMO Capital Markets raised shares of Park Hotels & Resorts from a “market perform” rating to an “outperform” rating and raised their target price for the company from $14.00 to $18.00 in a report on Tuesday, September 1st. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $16.09.

Institutional Trading of Park Hotels & Resorts

Institutional investors have recently modified their holdings of the stock. Brown Financial Advisors boosted its stake in Park Hotels & Resorts by 4.4% in the second quarter. Brown Financial Advisors now owns 21,461 shares of the financial services provider’s stock valued at $306,000 after acquiring an additional 901 shares in the last quarter. Parkside Financial Bank & Trust increased its position in shares of Park Hotels & Resorts by 23.9% during the second quarter. Parkside Financial Bank & Trust now owns 5,091 shares of the financial services provider’s stock worth $73,000 after purchasing an additional 982 shares in the last quarter. Versant Capital Management Inc lifted its holdings in shares of Park Hotels & Resorts by 10.5% in the 2nd quarter. Versant Capital Management Inc now owns 10,838 shares of the financial services provider’s stock valued at $154,000 after purchasing an additional 1,030 shares during the last quarter. Fifth Third Bancorp lifted its holdings in shares of Park Hotels & Resorts by 68.8% in the 1st quarter. Fifth Third Bancorp now owns 2,604 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 1,061 shares during the last quarter. Finally, Nissay Asset Management Corp Japan lifted its holdings in shares of Park Hotels & Resorts by 3.7% in the 2nd quarter. Nissay Asset Management Corp Japan now owns 32,684 shares of the financial services provider’s stock valued at $466,000 after purchasing an additional 1,177 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Park Hotels & Resorts Trading Down 1.9%

The stock has a market capitalization of $3.29 billion, a price-to-earnings ratio of -19.69 and a beta of 1.36. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.53 and a current ratio of 1.53. The business has a 50-day moving average of $15.52 and a 200-day moving average of $14.00.

Park Hotels & Resorts (NYSE:PK) last issued its quarterly earnings data on Thursday, August 6th. The financial services provider reported $0.24 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.24. The company had revenue of $680.00 million during 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%. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.64 earnings per share. Park Hotels & Resorts has set its FY 2026 guidance at 1.900-2.000 EPS. As a group, research analysts forecast that Park Hotels & Resorts Inc. will post 1.87 EPS for the current year.

Park Hotels & Resorts Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 6.1%. The ex-dividend date of this dividend was Wednesday, September 30th. Park Hotels & Resorts’s dividend payout ratio (DPR) is presently -120.48%.

About Park Hotels & Resorts

Park Hotels & Resorts Inc (NYSE: PK) is a real estate investment trust focused on owning and operating hotels and resorts. The company’s portfolio includes full-service properties in major business and leisure destinations, with hotels operating under Hilton brands as well as other nationally recognized and independent brands.

Park’s properties provide lodging, food and beverage, meeting and event facilities, and other hospitality services. Its hotels are located primarily in the United States, including gateway cities, convention markets, and resort destinations.

Park Hotels & Resorts was formed in 2017 through a spin-off from Hilton Worldwide Holdings.