Park Hotels & Resorts (NYSE:PK) Downgraded by StockNews.com to “Sell”

StockNews.com cut shares of Park Hotels & Resorts (NYSE:PK) from a hold rating to a sell rating in a research report released on Monday.

PK has been the subject of several other research reports. Wells Fargo & Company decreased their price objective on Park Hotels & Resorts from $17.00 to $14.50 and set an “equal weight” rating for the company in a report on Friday, September 13th. Wolfe Research downgraded Park Hotels & Resorts from an “outperform” rating to a “peer perform” rating in a report on Thursday, September 26th. Truist Financial dropped their price target on Park Hotels & Resorts from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Wednesday, September 4th. Evercore ISI decreased their price objective on shares of Park Hotels & Resorts from $20.00 to $19.00 and set an “outperform” rating for the company in a research report on Tuesday, August 13th. Finally, UBS Group dropped their target price on shares of Park Hotels & Resorts from $18.00 to $14.00 and set a “neutral” rating on the stock in a research report on Friday, August 16th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $17.05.

Park Hotels & Resorts Price Performance

PK opened at $14.10 on Monday. The firm has a market capitalization of $2.97 billion, a PE ratio of 32.05, a price-to-earnings-growth ratio of 0.69 and a beta of 2.02. The business’s 50-day moving average is $14.48 and its two-hundred day moving average is $15.18. Park Hotels & Resorts has a 1 year low of $11.05 and a 1 year high of $18.05. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.58 and a quick ratio of 1.58.

Park Hotels & Resorts (NYSE:PK) last issued its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.30). The firm had revenue of $686.00 million during the quarter, compared to analysts’ expectations of $694.94 million. Park Hotels & Resorts had a return on equity of 8.77% and a net margin of 11.50%. Research analysts anticipate that Park Hotels & Resorts will post 2.11 earnings per share for the current fiscal year.

Park Hotels & Resorts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a $0.25 dividend. The ex-dividend date was Monday, September 30th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 7.09%. Park Hotels & Resorts’s payout ratio is currently 227.27%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PK. Fidelis Capital Partners LLC acquired a new position in Park Hotels & Resorts in the first quarter valued at approximately $26,000. Quarry LP lifted its stake in shares of Park Hotels & Resorts by 82.1% in the 2nd quarter. Quarry LP now owns 4,118 shares of the financial services provider’s stock valued at $62,000 after purchasing an additional 1,857 shares during the period. Claro Advisors LLC purchased a new stake in Park Hotels & Resorts during the third quarter worth $69,000. FinTrust Capital Advisors LLC grew its position in Park Hotels & Resorts by 260.5% during the first quarter. FinTrust Capital Advisors LLC now owns 5,076 shares of the financial services provider’s stock valued at $89,000 after buying an additional 3,668 shares during the period. Finally, EntryPoint Capital LLC increased its holdings in Park Hotels & Resorts by 53.5% in the first quarter. EntryPoint Capital LLC now owns 6,488 shares of the financial services provider’s stock valued at $113,000 after buying an additional 2,260 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

About Park Hotels & Resorts

Park is one of the largest publicly traded lodging REITs with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value. Park's portfolio currently consists of 43 premium-branded hotels and resorts with over 26,000 rooms primarily located in prime city center and resort locations.