Park Hotels & Resorts (NYSE:PK) Reaches New 1-Year Low – Here’s Why

Park Hotels & Resorts Inc. (NYSE:PK)’s stock price reached a new 52-week low during trading on Thursday . The stock traded as low as $9.70 and last traded at $9.83, with a volume of 1039798 shares traded. The stock had previously closed at $10.87.

Analyst Ratings Changes

Several analysts have weighed in on PK shares. Wells Fargo & Company cut their price objective on Park Hotels & Resorts from $17.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 18th. Truist Financial reduced their price target on Park Hotels & Resorts from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Friday, March 21st. Jefferies Financial Group dropped their target price 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. StockNews.com downgraded shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research report on Friday, February 21st. Finally, UBS Group lowered their price target on shares of Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating for the company in a research report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $17.72.

Park Hotels & Resorts Stock Down 3.3 %

The company has a market cap of $1.90 billion, a P/E ratio of 9.31, a P/E/G ratio of 1.51 and a beta of 1.73. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.19 and a quick ratio of 1.51. The company’s 50-day moving average is $12.14 and its two-hundred day moving average is $13.71.

Park Hotels & Resorts (NYSE:PK) last announced its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.01). Park Hotels & Resorts had a net margin of 8.16% and a return on equity of 5.63%. The business had revenue of $625.00 million for the quarter, compared to the consensus estimate of $609.05 million. As a group, equities analysts predict that Park Hotels & Resorts Inc. will post 2.11 earnings per share for the current fiscal year.

Park Hotels & Resorts Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.25 per share. The ex-dividend date is Monday, March 31st. This represents a $1.00 dividend on an annualized basis and a yield of 10.64%. Park Hotels & Resorts’s dividend payout ratio (DPR) is 99.01%.

Hedge Funds Weigh In On Park Hotels & Resorts

Several hedge funds and other institutional investors have recently modified their holdings of the company. Versant Capital Management Inc increased its position in Park Hotels & Resorts by 11,039.1% during the first quarter. Versant Capital Management Inc now owns 2,562 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 2,539 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Park Hotels & Resorts in the 4th quarter worth approximately $7,769,000. GF Fund Management CO. LTD. bought a new position in shares of Park Hotels & Resorts in the 4th quarter worth approximately $53,000. Twinbeech Capital LP boosted its holdings in shares of Park Hotels & Resorts by 396.7% in the fourth quarter. Twinbeech Capital LP now owns 86,333 shares of the financial services provider’s stock worth $1,215,000 after buying an additional 68,950 shares during the last quarter. Finally, Two Sigma Advisers LP grew its position in Park Hotels & Resorts by 59.1% during the fourth quarter. Two Sigma Advisers LP now owns 28,000 shares of the financial services provider’s stock valued at $394,000 after buying an additional 10,400 shares during the period. 92.69% of the stock is owned by institutional investors.

Park Hotels & Resorts Company Profile

Park Hotels & Resorts, Inc operates as a real estate investment trust, which owns and operates hotels and resorts. It operates through the Consolidated Hotels and Unconsolidated Hotels segments. Its portfolio of hotels and resorts include the Waldorf Astoria Hotels and Resorts, Conrad Hotels & Resorts, Hilton Hotels & Resorts, DoubleTree by Hilton, Embassy Suites by Hilton, Hilton Garden Inn, Hampton by Hilton, and Curio.