Park Hotels & Resorts (NYSE:PK) Upgraded at StockNews.com

StockNews.com upgraded shares of Park Hotels & Resorts (NYSE:PK) from a sell rating to a hold rating in a research note released on Monday morning.

A number of other equities research analysts also recently weighed in on the company. Truist Financial cut their target price on Park Hotels & Resorts from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th. Compass Point cut 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 target price on Park Hotels & Resorts from $16.00 to $17.00 and gave the stock an “equal weight” rating in a report on Monday, December 9th. Bank of America cut their price target on shares of Park Hotels & Resorts from $17.00 to $16.50 and set a “neutral” rating for the company in a report on Monday, October 21st. Finally, UBS Group lifted their price objective on shares of Park Hotels & Resorts from $14.00 to $15.00 and gave the stock a “neutral” rating in a research note on Monday, November 18th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Park Hotels & Resorts currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.55.

Park Hotels & Resorts Price Performance

Shares of NYSE PK opened at $14.71 on Monday. The firm’s 50-day simple moving average is $14.86 and its 200 day simple moving average is $14.65. The stock has a market cap of $3.04 billion, a P/E ratio of 9.37, a P/E/G ratio of 6.90 and a beta of 2.03. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 1.24. Park Hotels & Resorts has a fifty-two week low of $13.23 and a fifty-two week high of $18.05.

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

Park Hotels & Resorts Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 17.68%. 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 (DPR) is presently 63.69%.

Institutional Trading of Park Hotels & Resorts

Several large investors have recently added to or reduced their stakes in PK. Algert Global LLC boosted its position in shares of Park Hotels & Resorts by 48.6% in the second quarter. Algert Global LLC now owns 752,273 shares of the financial services provider’s stock worth $11,269,000 after buying an additional 245,973 shares during the period. Quantbot Technologies LP boosted its position in Park Hotels & Resorts by 95.7% during the 2nd quarter. Quantbot Technologies LP now owns 367,900 shares of the financial services provider’s stock worth $5,511,000 after acquiring an additional 179,884 shares during the period. XTX Topco Ltd grew its stake in Park Hotels & Resorts by 420.7% during the 3rd quarter. XTX Topco Ltd now owns 89,168 shares of the financial services provider’s stock valued at $1,257,000 after acquiring an additional 72,044 shares in the last quarter. National Bank of Canada FI increased its holdings in shares of Park Hotels & Resorts by 70.9% in the 2nd quarter. National Bank of Canada FI now owns 223,600 shares of the financial services provider’s stock valued at $3,298,000 after purchasing an additional 92,800 shares during the period. Finally, AQR Capital Management LLC lifted its position in shares of Park Hotels & Resorts by 287.7% in the second 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 in the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

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.