Park Hotels & Resorts (NYSE:PK) Reaches New 12-Month Low – What’s Next?

Park Hotels & Resorts Inc. (NYSE:PK)’s stock price hit a new 52-week low during mid-day trading on Friday . The company traded as low as $13.22 and last traded at $13.40, with a volume of 218038 shares trading hands. The stock had previously closed at $13.55.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PK. Jefferies Financial Group decreased their target price on Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating for the company in a research note on Thursday, January 2nd. Wolfe Research lowered Park Hotels & Resorts from an “outperform” rating to a “peer perform” rating in a report on Thursday, September 26th. 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. UBS Group raised their price objective on shares of Park Hotels & Resorts from $14.00 to $15.00 and gave the company a “neutral” rating in a research note on Monday, November 18th. Finally, Wells Fargo & Company boosted their target price on shares of Park Hotels & Resorts from $16.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Park Hotels & Resorts presently has an average rating of “Hold” and a consensus target price of $18.65.

Park Hotels & Resorts Trading Up 1.7 %

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 firm has a fifty day simple moving average of $14.85 and a two-hundred day simple moving average of $14.59. The firm has a market capitalization of $2.84 billion, a P/E ratio of 8.78, a price-to-earnings-growth ratio of 6.90 and a beta of 2.02.

Park Hotels & Resorts (NYSE:PK) last released its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $0.26 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.21). Park Hotels & Resorts had a return on equity of 9.63% and a net margin of 12.66%. The business had revenue of $649.00 million during the quarter, compared to the consensus estimate of $646.15 million. During the same period last year, the business posted $0.51 earnings per share. The firm’s quarterly revenue was down 4.4% on a year-over-year basis. On average, equities research analysts anticipate that Park Hotels & Resorts Inc. will post 1.96 earnings per share for the current fiscal 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 paid a $0.65 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This is a boost from Park Hotels & Resorts’s previous quarterly dividend of $0.25. This represents a $2.60 annualized dividend and a yield of 18.87%. Park Hotels & Resorts’s dividend payout ratio is currently 63.69%.

Institutional Investors Weigh In On Park Hotels & Resorts

A number of institutional investors and hedge funds have recently bought and sold shares of PK. Donald Smith & CO. Inc. increased its holdings in shares of Park Hotels & Resorts by 22.5% in 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 buying an additional 1,484,295 shares during the last quarter. AQR Capital Management LLC grew its position in 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 acquiring an additional 3,897,889 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Park Hotels & Resorts by 18.4% in the third quarter. JPMorgan Chase & Co. now owns 3,488,097 shares of the financial services provider’s stock valued at $49,182,000 after acquiring an additional 540,920 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Park Hotels & Resorts by 3.8% during the second quarter. Dimensional Fund Advisors LP now owns 3,113,325 shares of the financial services provider’s stock valued at $46,638,000 after purchasing an additional 115,391 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Park Hotels & Resorts by 2.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,902,728 shares of the financial services provider’s stock worth $40,928,000 after purchasing an additional 66,093 shares during the last quarter. 92.69% of the stock is owned by hedge funds and other 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.