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 report published on Monday morning.

Several other equities research analysts have also recently issued reports on PK. UBS Group raised their target price on Park Hotels & Resorts from $14.00 to $15.00 and gave the stock a “neutral” rating in a research note on Monday, November 18th. Wells Fargo & Company raised their price objective on 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. 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. Bank of America dropped 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 research report on Monday, October 21st. Finally, Compass Point lowered their price objective on shares of Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Park Hotels & Resorts has a consensus rating of “Moderate Buy” and a consensus target price of $18.55.

Park Hotels & Resorts Price Performance

Park Hotels & Resorts stock opened at $14.07 on Monday. The company has a fifty day simple moving average of $14.87 and a 200-day simple moving average of $14.65. The firm has a market capitalization of $2.90 billion, a price-to-earnings ratio of 8.96, a PEG 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 52-week low of $13.23 and a 52-week high of $18.05.

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

Park Hotels & Resorts Increases Dividend

The firm also recently declared 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 is Tuesday, December 31st. This is a boost from Park Hotels & Resorts’s previous quarterly dividend of $0.25. This represents a $2.60 dividend on an annualized basis and a yield of 18.48%. Park Hotels & Resorts’s dividend payout ratio (DPR) is currently 63.69%.

Institutional Trading of Park Hotels & Resorts

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. purchased a new stake in shares of Park Hotels & Resorts in the 3rd quarter valued at about $33,000. Venturi Wealth Management LLC boosted its holdings in shares of Park Hotels & Resorts by 281.6% in the third quarter. Venturi Wealth Management LLC now owns 3,850 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 2,841 shares during the period. Quarry LP grew its position in shares of Park Hotels & Resorts by 82.1% during the second quarter. Quarry LP now owns 4,118 shares of the financial services provider’s stock worth $62,000 after acquiring an additional 1,857 shares during the last quarter. Claro Advisors LLC purchased a new stake in Park Hotels & Resorts in the 3rd quarter valued at $69,000. Finally, Covestor Ltd boosted its stake in Park Hotels & Resorts by 64.8% during the 3rd quarter. Covestor Ltd now owns 6,894 shares of the financial services provider’s stock worth $97,000 after purchasing an additional 2,711 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

Park Hotels & Resorts Company Profile

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.