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

Shares of Park Hotels & Resorts Inc. (NYSE:PK) reached a new 52-week low on Monday . The stock traded as low as $13.02 and last traded at $12.85, with a volume of 13315 shares trading hands. The stock had previously closed at $13.49.

Wall Street Analyst Weigh In

PK has been the subject of several recent research reports. 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 report on Thursday, October 31st. Wells Fargo & Company lifted their price objective on Park Hotels & Resorts from $16.00 to $17.00 and gave the company an “equal weight” rating in a report on Monday, December 9th. UBS Group lifted their price objective on Park Hotels & Resorts from $14.00 to $15.00 and gave the company a “neutral” rating in a report on Monday, November 18th. Jefferies Financial Group cut their target price on Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating on the stock in a research note on Thursday, January 2nd. Finally, Bank of America cut their target price on Park Hotels & Resorts from $17.00 to $16.50 and set a “neutral” rating on the stock in a research note on Monday, October 21st. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $18.65.

Park Hotels & Resorts Price Performance

The company has a market capitalization of $2.68 billion, a price-to-earnings ratio of 8.28 and a beta of 2.00. The stock has a fifty day simple moving average of $14.54 and a 200-day simple moving average of $14.48. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.51 and a quick ratio of 1.51.

Park Hotels & Resorts Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a $0.65 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This is an increase from Park Hotels & Resorts’s previous quarterly dividend of $0.25. This represents a $2.60 dividend on an annualized basis and a yield of 20.01%. Park Hotels & Resorts’s payout ratio is presently 63.69%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Harbor Capital Advisors Inc. acquired a new position in shares of Park Hotels & Resorts during the 3rd quarter worth approximately $33,000. Venturi Wealth Management LLC raised its stake in Park Hotels & Resorts by 281.6% in the 3rd quarter. Venturi Wealth Management LLC now owns 3,850 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 2,841 shares during the last quarter. Claro Advisors LLC acquired a new position in Park Hotels & Resorts in the 3rd quarter valued at $69,000. Covestor Ltd raised its stake in Park Hotels & Resorts by 64.8% in the 3rd quarter. Covestor Ltd now owns 6,894 shares of the financial services provider’s stock valued at $97,000 after purchasing an additional 2,711 shares during the last quarter. Finally, KBC Group NV raised its stake in Park Hotels & Resorts by 34.4% in the 3rd quarter. KBC Group NV now owns 7,360 shares of the financial services provider’s stock valued at $104,000 after purchasing an additional 1,882 shares during the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

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.