Park Hotels & Resorts (NYSE:PK) Price Target Lowered to $18.00 at Truist Financial

Park Hotels & Resorts (NYSE:PK) had its price objective cut by Truist Financial from $20.00 to $18.00 in a report published on Wednesday, Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

A number of other equities research analysts have also recently commented on the company. UBS Group decreased their price target on Park Hotels & Resorts from $18.00 to $14.00 and set a neutral rating on the stock in a report on Friday, August 16th. Evercore ISI dropped their price target 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. Barclays lifted their price objective on shares of Park Hotels & Resorts from $21.00 to $22.00 and gave the company an overweight rating in a research report on Friday, May 24th. Finally, Wedbush restated a neutral rating and set a $17.00 target price on shares of Park Hotels & Resorts in a research report on Tuesday, May 28th. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Park Hotels & Resorts has a consensus rating of Hold and a consensus price target of $17.25.

Park Hotels & Resorts Stock Down 1.8 %

NYSE PK opened at $14.44 on Wednesday. Park Hotels & Resorts has a 52 week low of $11.05 and a 52 week high of $18.05. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 1.23. The company has a market capitalization of $3.02 billion, a P/E ratio of 32.82, a price-to-earnings-growth ratio of 0.74 and a beta of 2.02. The stock’s 50-day moving average price is $14.62 and its 200-day moving average price is $15.73.

Park Hotels & Resorts (NYSE:PK) last issued its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.30). The firm had revenue of $686.00 million for the quarter, compared to analysts’ expectations of $694.94 million. Park Hotels & Resorts had a net margin of 11.50% and a return on equity of 8.77%. On average, equities research analysts predict that Park Hotels & Resorts will post 2.1 earnings per share for the current year.

Park Hotels & Resorts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.93%. Park Hotels & Resorts’s dividend payout ratio (DPR) is presently 227.28%.

Institutional Investors Weigh In On Park Hotels & Resorts

Several large investors have recently added to or reduced their stakes in the stock. Fidelis Capital Partners LLC purchased a new stake in shares of Park Hotels & Resorts in the first quarter valued at $26,000. Raleigh Capital Management Inc. purchased a new stake in Park Hotels & Resorts in the 4th quarter worth about $35,000. YHB Investment Advisors Inc. bought a new stake in Park Hotels & Resorts in the first quarter worth about $40,000. Quarry LP boosted its position in shares of Park Hotels & Resorts by 82.1% during the second quarter. Quarry LP now owns 4,118 shares of the financial services provider’s stock valued at $62,000 after buying an additional 1,857 shares during the period. Finally, FinTrust Capital Advisors LLC grew its stake in shares of Park Hotels & Resorts by 260.5% during the first quarter. FinTrust Capital Advisors LLC now owns 5,076 shares of the financial services provider’s stock valued at $89,000 after buying an additional 3,668 shares during the last quarter. 92.69% of the stock is 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.