Park Hotels & Resorts (NYSE:PK) Price Target Raised to $12.00

Park Hotels & Resorts (NYSE:PK) had its price objective lifted by Cantor Fitzgerald from $11.00 to $12.00 in a report published on Tuesday morning,Benzinga reports. The brokerage currently has a neutral rating on the financial services provider’s stock.

Other equities research analysts have also issued research reports about the company. Barclays initiated coverage on Park Hotels & Resorts in a research note on Tuesday, January 6th. They issued an “overweight” rating and a $13.00 price objective for the company. Wells Fargo & Company decreased their price target on shares of Park Hotels & Resorts from $12.00 to $11.00 and set an “equal weight” rating for the company in a research note on Monday, December 1st. Wall Street Zen raised shares of Park Hotels & Resorts from a “sell” rating to a “hold” rating in a research report on Sunday, March 1st. JPMorgan Chase & Co. lifted their price objective on shares of Park Hotels & Resorts from $10.00 to $11.00 and gave the stock an “underweight” rating in a research report on Tuesday, February 3rd. Finally, Truist Financial dropped their target price on Park Hotels & Resorts from $12.00 to $11.00 and set a “hold” rating on the stock in a report on Tuesday, February 3rd. Two research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Park Hotels & Resorts currently has an average rating of “Reduce” and an average price target of $11.27.

Park Hotels & Resorts Price Performance

Shares of PK opened at $11.30 on Tuesday. The company has a market cap of $2.26 billion, a P/E ratio of -7.90 and a beta of 1.40. Park Hotels & Resorts has a fifty-two week low of $8.27 and a fifty-two week high of $12.43. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 1.25. The firm’s 50 day moving average price is $11.20 and its 200 day moving average price is $11.10.

Park Hotels & Resorts (NYSE:PK) last posted its quarterly earnings results on Thursday, February 19th. The financial services provider reported ($1.04) EPS for the quarter, missing the consensus estimate of $0.46 by ($1.50). The business had revenue of $629.00 million during the quarter, compared to analyst estimates of $621.79 million. Park Hotels & Resorts had a negative return on equity of 8.56% and a negative net margin of 11.14%.The business’s revenue was up .6% on a year-over-year basis. During the same quarter last year, the firm earned $0.39 EPS. Park Hotels & Resorts has set its FY 2026 guidance at 1.730-1.89 EPS. On average, research analysts forecast that Park Hotels & Resorts will post 2.11 earnings per share for the current fiscal year.

Park Hotels & Resorts Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 8.8%. The ex-dividend date is Tuesday, March 31st. Park Hotels & Resorts’s dividend payout ratio is currently -69.93%.

Insider Activity at Park Hotels & Resorts

In other news, Director Christie B. Kelly bought 2,949 shares of Park Hotels & Resorts stock in a transaction dated Wednesday, January 14th. The stock was acquired at an average cost of $11.19 per share, with a total value of $32,999.31. Following the acquisition, the director owned 150,501 shares of the company’s stock, valued at approximately $1,684,106.19. This trade represents a 2.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Amundi boosted its holdings in shares of Park Hotels & Resorts by 1.9% in the first quarter. Amundi now owns 115,143 shares of the financial services provider’s stock valued at $1,119,000 after acquiring an additional 2,179 shares during the period. Millennium Management LLC raised its position in Park Hotels & Resorts by 849.3% in the 1st quarter. Millennium Management LLC now owns 523,851 shares of the financial services provider’s stock valued at $5,595,000 after purchasing an additional 468,668 shares during the last quarter. United Services Automobile Association acquired a new stake in Park Hotels & Resorts during the 1st quarter worth $152,000. Empowered Funds LLC boosted its stake in Park Hotels & Resorts by 10.1% during the 1st quarter. Empowered Funds LLC now owns 22,380 shares of the financial services provider’s stock worth $239,000 after purchasing an additional 2,058 shares during the period. Finally, Focus Partners Wealth grew its position in Park Hotels & Resorts by 30.6% during the 1st quarter. Focus Partners Wealth now owns 18,646 shares of the financial services provider’s stock worth $199,000 after purchasing an additional 4,374 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Park Hotels & Resorts Company Profile

Park Hotels & Resorts Inc is a publicly traded real estate investment trust (REIT) specializing in luxury and upper-upscale hospitality properties. The company’s primary business activity involves owning and leasing premier hotels and resorts across major urban and resort destinations. Through long-term management and franchise agreements with leading hotel operators, Park generates revenue from room nights, food and beverage offerings, meetings and events, and ancillary services.

Since its spin-off from Hilton Worldwide in January 2017, Park Hotels & Resorts has assembled a diversified portfolio of more than 60 properties.