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

Park Hotels & Resorts Inc. (NYSE:PK) declared a quarterly dividend on Friday, July 26th, Zacks reports. Investors of record on Monday, September 30th will be paid a dividend of 0.25 per share by the financial services provider on Tuesday, October 15th. This represents a $1.00 annualized dividend and a yield of 6.75%. The ex-dividend date of this dividend is Monday, September 30th.

Park Hotels & Resorts has increased its dividend payment by an average of 10.1% per year over the last three years. Park Hotels & Resorts has a payout ratio of 112.4% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Park Hotels & Resorts to earn $2.20 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 45.5%.

Park Hotels & Resorts Stock Up 0.3 %

Shares of PK stock traded up $0.04 during mid-day trading on Friday, hitting $14.81. The stock had a trading volume of 3,346,621 shares, compared to its average volume of 2,715,785. The firm has a market capitalization of $3.12 billion, a P/E ratio of 33.66, a price-to-earnings-growth ratio of 0.73 and a beta of 2.02. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.58 and a quick ratio of 1.58. Park Hotels & Resorts has a 12-month low of $11.05 and a 12-month high of $18.05. The firm’s 50-day moving average is $14.56 and its two-hundred day moving average is $15.51.

Park Hotels & Resorts (NYSE:PK) last issued its earnings results on Wednesday, July 31st. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.30). The business had revenue of $686.00 million for the quarter, compared to the consensus estimate of $694.94 million. Park Hotels & Resorts had a return on equity of 8.77% and a net margin of 11.50%. On average, analysts predict that Park Hotels & Resorts will post 2.11 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PK has been the subject of several recent research reports. Wells Fargo & Company reduced their price target on Park Hotels & Resorts from $17.00 to $14.50 and set an “equal weight” rating for the company in a research report on Friday, September 13th. Truist Financial reduced their target price on shares of Park Hotels & Resorts from $20.00 to $18.00 and set a “buy” rating for the company in a report on Wednesday, September 4th. Wolfe Research downgraded shares of Park Hotels & Resorts from an “outperform” rating to a “peer perform” rating in a research report on Thursday. Evercore ISI reduced their price objective on shares of 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, UBS Group lowered their target price on shares of Park Hotels & Resorts from $18.00 to $14.00 and set a “neutral” rating for the company in a research note on Friday, August 16th. Eight investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $17.05.

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.