StockNews.com Lowers Park Hotels & Resorts (NYSE:PK) to Sell

StockNews.com lowered shares of Park Hotels & Resorts (NYSE:PK) from a hold rating to a sell rating in a research report released on Saturday.

Several other research firms also recently commented on PK. Citigroup upgraded Park Hotels & Resorts from a neutral rating to a buy rating and increased their target price for the company from $14.00 to $20.00 in a research report on Friday, March 22nd. Barclays increased their target price on Park Hotels & Resorts from $19.00 to $21.00 and gave the company an overweight rating in a research report on Friday, March 1st. Wells Fargo & Company increased their target price on Park Hotels & Resorts from $17.00 to $18.00 and gave the company an equal weight rating in a research report on Thursday, March 21st. UBS Group increased their target price on Park Hotels & Resorts from $14.00 to $18.00 and gave the company a neutral rating in a research report on Wednesday, March 6th. Finally, Jefferies Financial Group upgraded Park Hotels & Resorts from a hold rating to a buy rating and increased their target price for the company from $14.00 to $21.00 in a research report on Tuesday, January 2nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Park Hotels & Resorts presently has an average rating of Hold and an average price target of $17.58.

Park Hotels & Resorts Price Performance

Shares of PK stock opened at $16.78 on Friday. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 1.19. Park Hotels & Resorts has a twelve month low of $11.05 and a twelve month high of $18.05. The company has a market cap of $3.53 billion, a P/E ratio of 36.48, a P/E/G ratio of 0.66 and a beta of 2.03. The business has a fifty day simple moving average of $16.68 and a 200 day simple moving average of $15.18.

Park Hotels & Resorts (NYSE:PK) last announced its quarterly earnings data on Tuesday, February 27th. The financial services provider reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.39. Park Hotels & Resorts had a return on equity of 2.44% and a net margin of 3.60%. The business had revenue of $657.00 million during the quarter, compared to the consensus estimate of $665.16 million. On average, sell-side analysts forecast that Park Hotels & Resorts will post 2 EPS for the current fiscal year.

Park Hotels & Resorts Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.00 annualized dividend and a yield of 5.96%. This is a boost from Park Hotels & Resorts’s previous quarterly dividend of $0.15. Park Hotels & Resorts’s dividend payout ratio (DPR) is currently 217.39%.

Institutional Investors Weigh In On Park Hotels & Resorts

Several large investors have recently added to or reduced their stakes in the business. First Trust Advisors LP grew its stake in Park Hotels & Resorts by 1.5% during the first quarter. First Trust Advisors LP now owns 47,964 shares of the financial services provider’s stock worth $937,000 after purchasing an additional 686 shares during the period. Cascade Investment Advisors Inc. grew its stake in Park Hotels & Resorts by 1.1% in the fourth quarter. Cascade Investment Advisors Inc. now owns 66,222 shares of the financial services provider’s stock valued at $1,013,000 after acquiring an additional 725 shares during the period. Signaturefd LLC grew its stake in Park Hotels & Resorts by 12.7% in the fourth quarter. Signaturefd LLC now owns 6,437 shares of the financial services provider’s stock valued at $98,000 after acquiring an additional 727 shares during the period. Truist Financial Corp grew its stake in Park Hotels & Resorts by 3.8% in the fourth quarter. Truist Financial Corp now owns 22,335 shares of the financial services provider’s stock valued at $342,000 after acquiring an additional 816 shares during the period. Finally, Spire Wealth Management grew its stake in Park Hotels & Resorts by 20.1% in the third quarter. Spire Wealth Management now owns 5,145 shares of the financial services provider’s stock valued at $63,000 after acquiring an additional 860 shares during the period. Institutional investors and hedge funds 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.