Park Hotels & Resorts Inc. (NYSE:PK) Receives Average Rating of “Hold” from Brokerages

Park Hotels & Resorts Inc. (NYSE:PK) has received a consensus rating of “Hold” from the twelve analysts that are presently covering the company, Marketbeat reports. Seven analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $17.05.

Several brokerages have weighed in on PK. UBS Group lowered their price target on shares of Park Hotels & Resorts from $18.00 to $14.00 and set a “neutral” rating on the stock in a report on Friday, August 16th. Wolfe Research downgraded shares of Park Hotels & Resorts from an “outperform” rating to a “peer perform” rating in a report on Thursday, September 26th. Wells Fargo & Company decreased their price target on Park Hotels & Resorts from $17.00 to $14.50 and set an “equal weight” rating on the stock in a report on Friday, September 13th. Evercore ISI dropped their price objective on Park Hotels & Resorts from $20.00 to $19.00 and set an “outperform” rating for the company in a research note on Tuesday, August 13th. Finally, Truist Financial cut their target price on Park Hotels & Resorts from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th.

Institutional Investors Weigh In On Park Hotels & Resorts

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Epoch Investment Partners Inc. increased its position in shares of Park Hotels & Resorts by 135.7% during the 1st quarter. Epoch Investment Partners Inc. now owns 1,391,881 shares of the financial services provider’s stock valued at $24,344,000 after purchasing an additional 801,372 shares during the last quarter. Acadian Asset Management LLC increased its position in Park Hotels & Resorts by 492.7% during the first quarter. Acadian Asset Management LLC now owns 54,345 shares of the financial services provider’s stock valued at $950,000 after acquiring an additional 45,176 shares during the last quarter. Los Angeles Capital Management LLC increased its position in Park Hotels & Resorts by 601.1% during the first quarter. Los Angeles Capital Management LLC now owns 2,111,004 shares of the financial services provider’s stock valued at $36,921,000 after acquiring an additional 1,809,886 shares during the last quarter. Diversified Trust Co purchased a new stake in shares of Park Hotels & Resorts in the second quarter valued at $599,000. Finally, ClariVest Asset Management LLC bought a new stake in shares of Park Hotels & Resorts in the 1st quarter worth about $1,240,000. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Park Hotels & Resorts Trading Up 2.8 %

Shares of Park Hotels & Resorts stock opened at $14.44 on Monday. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.58 and a quick ratio of 1.58. The stock has a market capitalization of $3.02 billion, a PE ratio of 32.82, a P/E/G ratio of 0.68 and a beta of 2.02. Park Hotels & Resorts has a 1-year low of $11.05 and a 1-year high of $18.05. The company’s fifty day simple moving average is $14.49 and its 200-day simple moving average is $15.36.

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

Park Hotels & Resorts Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.00 annualized dividend and a yield of 6.93%. Park Hotels & Resorts’s dividend payout ratio is currently 227.28%.

Park Hotels & Resorts Company Profile

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.