Brokerages Set Park Hotels & Resorts Inc. (NYSE:PK) PT at $17.05

Shares of Park Hotels & Resorts Inc. (NYSE:PK) have earned a consensus recommendation of “Hold” from the twelve research firms that are presently covering the stock, MarketBeat.com reports. Seven analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $17.05.

Several equities research analysts have recently commented on the stock. Truist Financial reduced their price target 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. 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. UBS Group dropped their target price on Park Hotels & Resorts from $18.00 to $14.00 and set a “neutral” rating on the stock in a research report on Friday, August 16th. Wolfe Research downgraded Park Hotels & Resorts from an “outperform” rating to a “peer perform” rating in a report on Thursday, September 26th. Finally, Wells Fargo & Company decreased their price objective on Park Hotels & Resorts from $17.00 to $14.50 and set an “equal weight” rating for the company in a research note on Friday, September 13th.

Park Hotels & Resorts Price Performance

PK opened at $14.10 on Monday. 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 business has a fifty day moving average of $14.52 and a 200 day moving average of $15.42. Park Hotels & Resorts has a 52-week low of $11.05 and a 52-week high of $18.05. The stock has a market cap of $2.95 billion, a P/E ratio of 32.05, a PEG ratio of 0.71 and a beta of 2.02.

Park Hotels & Resorts (NYSE:PK) last announced its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.30). The company had revenue of $686.00 million for the quarter, compared to the consensus estimate of $694.94 million. Park Hotels & Resorts had a net margin of 11.50% and a return on equity of 8.77%. As a group, sell-side analysts anticipate that Park Hotels & Resorts will post 2.11 EPS 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. Investors of record on Monday, September 30th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.00 annualized dividend and a dividend yield of 7.09%. Park Hotels & Resorts’s dividend payout ratio (DPR) is presently 227.28%.

Institutional Trading of Park Hotels & Resorts

A number of hedge funds have recently modified their holdings of the stock. Fidelis Capital Partners LLC acquired a new position in shares of Park Hotels & Resorts in the 1st quarter valued at $26,000. Raleigh Capital Management Inc. purchased a new stake in shares of Park Hotels & Resorts during the 4th quarter worth about $35,000. YHB Investment Advisors Inc. acquired a new stake in shares of Park Hotels & Resorts during the 1st quarter valued at about $40,000. Quarry LP increased its stake in shares of Park Hotels & Resorts by 82.1% in the 2nd quarter. Quarry LP now owns 4,118 shares of the financial services provider’s stock valued at $62,000 after purchasing an additional 1,857 shares in the last quarter. Finally, FinTrust Capital Advisors LLC raised its holdings in Park Hotels & Resorts by 260.5% in the 1st quarter. FinTrust Capital Advisors LLC now owns 5,076 shares of the financial services provider’s stock worth $89,000 after purchasing an additional 3,668 shares during the period. Hedge funds and other institutional investors own 92.69% of the company’s stock.

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.