Park Hotels & Resorts (NYSE:PK) Hits New 12-Month High – Still a Buy?

Shares of Park Hotels & Resorts Inc. (NYSE:PK) hit a new 52-week high during trading on Wednesday . The company traded as high as $14.95 and last traded at $14.8190, with a volume of 351318 shares trading hands. The stock had previously closed at $14.48.

Analyst Ratings Changes

PK has been the topic of a number of analyst reports. Barclays boosted their target price on shares of Park Hotels & Resorts from $9.00 to $12.00 and gave the company an “equal weight” rating in a report on Monday, June 1st. Weiss Ratings upgraded Park Hotels & Resorts from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, May 20th. LADENBURG THALM/SH SH boosted their price objective on Park Hotels & Resorts from $16.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, June 16th. Cantor Fitzgerald reissued a “neutral” rating and set a $12.00 price objective on shares of Park Hotels & Resorts in a report on Wednesday, May 13th. Finally, Truist Financial raised their target price on Park Hotels & Resorts from $12.00 to $13.00 and gave the stock a “hold” rating in a research note on Tuesday, May 26th. One investment analyst has rated the stock with a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus price target of $12.95.

Park Hotels & Resorts Stock Performance

The company’s fifty day simple moving average is $13.21 and its 200 day simple moving average is $11.80. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.27. The stock has a market capitalization of $2.95 billion, a P/E ratio of -13.44, a P/E/G ratio of 1.90 and a beta of 1.33.

Park Hotels & Resorts (NYSE:PK) last released its quarterly earnings results on Thursday, April 30th. The financial services provider reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.33). Park Hotels & Resorts had a negative return on equity of 6.71% and a negative net margin of 8.49%.The firm had revenue of $622.00 million during the quarter, compared to the consensus estimate of $609.77 million. During the same period in the previous year, the company posted $0.46 EPS. The company’s revenue for the quarter 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. As a group, sell-side analysts forecast that Park Hotels & Resorts Inc. will post 1.76 earnings per share for the current fiscal year.

Park Hotels & Resorts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 6.8%. The ex-dividend date is Tuesday, June 30th. Park Hotels & Resorts’s dividend payout ratio is currently -91.74%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Danske Bank A S bought a new position in shares of Park Hotels & Resorts in the third quarter worth approximately $25,000. Fifth Third Bancorp increased its stake in Park Hotels & Resorts by 68.8% in the first quarter. Fifth Third Bancorp now owns 2,604 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 1,061 shares during the last quarter. Advisory Services Network LLC purchased a new stake in Park Hotels & Resorts during the third quarter valued at about $34,000. Harbor Capital Advisors Inc. raised its position in Park Hotels & Resorts by 293.1% during the fourth quarter. Harbor Capital Advisors Inc. now owns 5,181 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 3,863 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in Park Hotels & Resorts by 33.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,844 shares of the financial services provider’s stock worth $61,000 after purchasing an additional 1,464 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

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.