Park Hotels & Resorts (NYSE:PK) Sets New 1-Year High on Analyst Upgrade

Park Hotels & Resorts Inc. (NYSE:PK) shares hit a new 52-week high during mid-day trading on Wednesday after Truist Financial raised their price target on the stock from $12.00 to $13.00. Truist Financial currently has a hold rating on the stock. Park Hotels & Resorts traded as high as $12.43 and last traded at $12.1470, with a volume of 467048 shares. The stock had previously closed at $12.00.

A number of other brokerages have also issued reports on PK. Weiss Ratings raised shares of Park Hotels & Resorts from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, May 20th. Zacks Research upgraded shares of Park Hotels & Resorts from a “strong sell” rating to a “hold” rating in a report on Thursday, February 19th. Wells Fargo & Company dropped their price target on shares of Park Hotels & Resorts from $11.00 to $10.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 24th. Barclays restated an “equal weight” rating and set a $9.00 price target (down from $13.00) on shares of Park Hotels & Resorts in a report on Tuesday, April 7th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Park Hotels & Resorts from $10.00 to $11.00 and gave the company an “underweight” rating in a research report on Tuesday, February 3rd. One analyst has rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $11.65.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Sculptor Capital LP boosted its stake in Park Hotels & Resorts by 154.1% during the second quarter. Sculptor Capital LP now owns 6,534,153 shares of the financial services provider’s stock worth $66,844,000 after buying an additional 3,962,304 shares during the period. AQR Capital Management LLC boosted its position in shares of Park Hotels & Resorts by 76.7% during the 2nd quarter. AQR Capital Management LLC now owns 7,744,912 shares of the financial services provider’s stock worth $79,230,000 after purchasing an additional 3,361,382 shares during the period. Bank of America Corp DE increased its holdings in Park Hotels & Resorts by 34.6% in the 2nd quarter. Bank of America Corp DE now owns 12,870,552 shares of the financial services provider’s stock valued at $131,666,000 after purchasing an additional 3,309,275 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Park Hotels & Resorts during the third quarter worth $20,905,000. Finally, Donald Smith & CO. Inc. lifted its stake in Park Hotels & Resorts by 14.2% during the fourth quarter. Donald Smith & CO. Inc. now owns 14,617,921 shares of the financial services provider’s stock worth $152,903,000 after purchasing an additional 1,813,338 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Park Hotels & Resorts Stock Performance

The firm has a 50-day moving average price of $10.97 and a 200 day moving average price of $10.95. The firm has a market capitalization of $2.46 billion, a PE ratio of -11.20, a price-to-earnings-growth ratio of 1.57 and a beta of 1.37. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.27.

Park Hotels & Resorts (NYSE:PK) last posted its quarterly earnings data on Thursday, April 30th. The financial services provider reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.33). Park Hotels & Resorts had a negative net margin of 8.49% and a negative return on equity of 6.71%. The firm had revenue of $622.00 million during the quarter, compared to analysts’ expectations of $609.78 million. During the same quarter in the prior year, the firm posted $0.46 EPS. Park Hotels & Resorts’s quarterly revenue was down 1.3% compared to the same quarter last year. Park Hotels & Resorts has set its FY 2026 guidance at 1.740-1.900 EPS. Research analysts expect that Park Hotels & Resorts Inc. will post 1.74 earnings per share for the current year.

Park Hotels & Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 8.2%. The ex-dividend date of this dividend is Tuesday, June 30th. Park Hotels & Resorts’s dividend payout ratio is currently -91.74%.

Park Hotels & Resorts Company Profile

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.