StockNews.com Downgrades Park Hotels & Resorts (NYSE:PK) to Sell

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

Several other equities analysts have also issued reports on PK. Compass Point decreased their price objective on Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Wells Fargo & Company upped their price target on shares of Park Hotels & Resorts from $16.00 to $17.00 and gave the company an “equal weight” rating in a report on Monday, December 9th. Jefferies Financial Group dropped their price objective on shares of Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. Bank of America reduced their target price on shares of Park Hotels & Resorts from $17.00 to $16.50 and set a “neutral” rating for the company in a research note on Monday, October 21st. Finally, UBS Group dropped their price target on Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating on the stock in a research note on Monday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $18.45.

Park Hotels & Resorts Trading Down 0.2 %

PK opened at $13.08 on Wednesday. Park Hotels & Resorts has a twelve month low of $12.80 and a twelve month high of $18.05. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.51 and a current ratio of 1.51. The firm has a market cap of $2.70 billion, a PE ratio of 8.33 and a beta of 2.00. The firm’s fifty day moving average is $14.45 and its two-hundred day moving average is $14.46.

Park Hotels & Resorts Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 19.89%. The ex-dividend date of this dividend was Tuesday, December 31st. This is a positive change from Park Hotels & Resorts’s previous quarterly dividend of $0.25. Park Hotels & Resorts’s dividend payout ratio is presently 63.69%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Creative Planning raised its stake in shares of Park Hotels & Resorts by 39.0% during the 2nd quarter. Creative Planning now owns 26,190 shares of the financial services provider’s stock worth $392,000 after purchasing an additional 7,348 shares in the last quarter. Truist Financial Corp raised its position in Park Hotels & Resorts by 129.1% during the second quarter. Truist Financial Corp now owns 53,318 shares of the financial services provider’s stock worth $799,000 after acquiring an additional 30,043 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in Park Hotels & Resorts in the second quarter valued at $204,000. CWM LLC grew its position in shares of Park Hotels & Resorts by 98.4% in the 3rd quarter. CWM LLC now owns 111,611 shares of the financial services provider’s stock valued at $1,574,000 after acquiring an additional 55,353 shares during the period. Finally, Pensionfund DSM Netherlands grew its position in shares of Park Hotels & Resorts by 19.2% in the 3rd quarter. Pensionfund DSM Netherlands now owns 62,038 shares of the financial services provider’s stock valued at $875,000 after acquiring an additional 10,000 shares during the period. 92.69% of the stock is currently owned by institutional investors.

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.