Park Hotels & Resorts Inc. (NYSE:PK) Plans $0.25 Quarterly Dividend

Park Hotels & Resorts Inc. (NYSE:PK) declared a quarterly dividend on Friday, April 19th, Zacks reports. Investors of record on Friday, June 28th will be given a dividend of 0.25 per share by the financial services provider on Monday, July 15th. This represents a $1.00 annualized dividend and a yield of 6.83%. The ex-dividend date is Friday, June 28th.

Park Hotels & Resorts has increased its dividend by an average of 10.1% annually over the last three years. Park Hotels & Resorts has a payout ratio of 108.7% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Park Hotels & Resorts to earn $2.22 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 45.0%.

Park Hotels & Resorts Trading Down 0.5 %

Park Hotels & Resorts stock traded down $0.08 during mid-day trading on Wednesday, hitting $14.64. The stock had a trading volume of 407,797 shares, compared to its average volume of 2,735,732. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 1.20. Park Hotels & Resorts has a 12 month low of $11.05 and a 12 month high of $18.05. The stock has a market capitalization of $3.08 billion, a PE ratio of 33.30, a P/E/G ratio of 0.72 and a beta of 2.01. The stock has a 50-day simple moving average of $15.76 and a two-hundred day simple moving average of $16.14.

Park Hotels & Resorts (NYSE:PK) last issued its earnings results on Tuesday, April 30th. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.17). Park Hotels & Resorts had a return on equity of 3.08% and a net margin of 3.42%. The company had revenue of $639.00 million for the quarter, compared to the consensus estimate of $630.46 million. As a group, sell-side analysts forecast that Park Hotels & Resorts will post 2.11 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PK. StockNews.com raised Park Hotels & Resorts from a “sell” rating to a “hold” rating in a research report on Wednesday, May 1st. Wells Fargo & Company lifted their target price on Park Hotels & Resorts from $17.00 to $18.00 and gave the company an “equal weight” rating in a research report on Thursday, March 21st. Barclays lifted their target price on Park Hotels & Resorts from $21.00 to $22.00 and gave the company an “overweight” rating in a research report on Friday, May 24th. Wedbush reissued a “neutral” rating and issued a $17.00 target price on shares of Park Hotels & Resorts in a research report on Tuesday, May 28th. Finally, UBS Group lifted their target price on Park Hotels & Resorts from $14.00 to $18.00 and gave the company a “neutral” rating in a research report on Wednesday, March 6th. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $17.83.

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.