Park Hotels & Resorts Inc. (NYSE:PK) Receives $18.55 Average PT from Brokerages

Shares of Park Hotels & Resorts Inc. (NYSE:PK) have received an average rating of “Moderate Buy” from the eleven research firms that are currently covering the company, MarketBeat.com reports. Five analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $18.55.

PK has been the topic of a number of analyst reports. Truist Financial decreased their target price on shares of Park Hotels & Resorts from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Wednesday, September 4th. StockNews.com downgraded shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. Bank of America lowered their price objective on shares of Park Hotels & Resorts from $17.00 to $16.50 and set a “neutral” rating for the company in a research note on Monday, October 21st. Wolfe Research lowered Park Hotels & Resorts from an “outperform” rating to a “peer perform” rating in a research report on Thursday, September 26th. Finally, Wells Fargo & Company upped their price target on Park Hotels & Resorts from $16.00 to $17.00 and gave the stock an “equal weight” rating in a research note on Monday, December 9th.

Institutional Trading of Park Hotels & Resorts

Hedge funds have recently modified their holdings of the company. AQR Capital Management LLC raised its position in Park Hotels & Resorts by 287.7% in the 2nd quarter. AQR Capital Management LLC now owns 5,252,853 shares of the financial services provider’s stock worth $77,217,000 after purchasing an additional 3,897,889 shares during the last quarter. Jupiter Asset Management Ltd. lifted its stake in shares of Park Hotels & Resorts by 286.9% during the second quarter. Jupiter Asset Management Ltd. now owns 2,597,091 shares of the financial services provider’s stock valued at $38,904,000 after acquiring an additional 1,925,850 shares during the period. Donald Smith & CO. Inc. raised its holdings in Park Hotels & Resorts by 22.5% during the 3rd quarter. Donald Smith & CO. Inc. now owns 8,077,286 shares of the financial services provider’s stock worth $113,890,000 after purchasing an additional 1,484,295 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Park Hotels & Resorts by 321.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,409,574 shares of the financial services provider’s stock valued at $19,875,000 after buying an additional 1,075,255 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in Park Hotels & Resorts by 345.9% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,035,082 shares of the financial services provider’s stock valued at $14,595,000 after acquiring an additional 802,939 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

Park Hotels & Resorts Stock Up 0.7 %

Shares of NYSE PK opened at $15.39 on Friday. Park Hotels & Resorts has a 1 year low of $13.23 and a 1 year high of $18.05. The company has a market capitalization of $3.18 billion, a price-to-earnings ratio of 9.87, a price-to-earnings-growth ratio of 6.90 and a beta of 2.03. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.51 and a quick ratio of 1.51. The business has a 50-day moving average of $14.70 and a two-hundred day moving average of $14.68.

Park Hotels & Resorts (NYSE:PK) last issued its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.21). The firm had revenue of $649.00 million for the quarter, compared to analysts’ expectations of $646.15 million. Park Hotels & Resorts had a return on equity of 9.63% and a net margin of 12.66%. The business’s revenue for the quarter was down 4.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.51 EPS. On average, analysts forecast that Park Hotels & Resorts will post 1.96 earnings per share for the current fiscal year.

Park Hotels & Resorts Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 16.89%. This is a boost from Park Hotels & Resorts’s previous quarterly dividend of $0.25. The ex-dividend date is Tuesday, December 31st. Park Hotels & Resorts’s dividend payout ratio is 63.69%.

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.