Park Hotels & Resorts (NYSE:PK) Hits New 52-Week High – Here’s Why

Park Hotels & Resorts Inc. (NYSE:PK)’s share price hit a new 52-week high during trading on Wednesday . The company traded as high as $14.95 and last traded at $14.8190, with a volume of 351318 shares changing hands. The stock had previously closed at $14.48.

Analyst Ratings Changes

Several equities analysts have weighed in on PK shares. Weiss Ratings raised Park Hotels & Resorts from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, May 20th. LADENBURG THALM/SH SH raised their price objective on shares of Park Hotels & Resorts from $16.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, June 16th. Barclays lifted their price objective on shares of Park Hotels & Resorts from $9.00 to $12.00 and gave the company an “equal weight” rating in a report on Monday, June 1st. Morgan Stanley upped their target price on shares of Park Hotels & Resorts from $10.00 to $10.50 and gave the stock an “equal weight” rating in a research note on Tuesday, May 12th. Finally, BMO Capital Markets reiterated a “market perform” rating and set a $14.00 target price on shares of Park Hotels & Resorts in a report on Friday, June 12th. One equities research analyst has rated the stock with a Buy rating, ten have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price of $12.95.

Park Hotels & Resorts Price Performance

The company has a 50 day moving average of $13.34 and a 200 day moving average of $11.85. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.25 and a current ratio of 1.25. The stock has a market capitalization of $2.94 billion, a price-to-earnings ratio of -13.41, a PEG ratio of 1.95 and a beta of 1.33.

Park Hotels & Resorts (NYSE:PK) last posted its quarterly earnings results on Thursday, April 30th. The financial services provider reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.33). The company had revenue of $622.00 million during the quarter, compared to analyst estimates of $609.77 million. Park Hotels & Resorts had a negative net margin of 8.49% and a negative return on equity of 6.71%. Park Hotels & Resorts’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.46 EPS. Park Hotels & Resorts has set its FY 2026 guidance at 1.740-1.900 EPS. As a group, equities research analysts anticipate that Park Hotels & Resorts Inc. will post 1.76 EPS for the current year.

Park Hotels & Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $1.00 annualized dividend and a yield of 6.8%. Park Hotels & Resorts’s dividend payout ratio (DPR) is -91.74%.

Institutional Investors Weigh In On Park Hotels & Resorts

A number of large investors have recently modified their holdings of the company. Gradient Investments LLC grew its stake in shares of Park Hotels & Resorts by 11.3% during the second quarter. Gradient Investments LLC now owns 246,702 shares of the financial services provider’s stock worth $3,516,000 after purchasing an additional 24,982 shares in the last quarter. Chapin Davis Inc. lifted its holdings in Park Hotels & Resorts by 12.3% during the 2nd quarter. Chapin Davis Inc. now owns 13,200 shares of the financial services provider’s stock worth $188,000 after buying an additional 1,450 shares during the last quarter. Post Resch Tallon Group Inc. lifted its holdings in Park Hotels & Resorts by 24.0% during the 2nd quarter. Post Resch Tallon Group Inc. now owns 34,318 shares of the financial services provider’s stock worth $489,000 after buying an additional 6,648 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Park Hotels & Resorts by 17.2% during the 2nd quarter. GAMMA Investing LLC now owns 14,045 shares of the financial services provider’s stock worth $200,000 after acquiring an additional 2,064 shares in the last quarter. Finally, Versant Capital Management Inc increased its holdings in shares of Park Hotels & Resorts by 10.5% in the 2nd quarter. Versant Capital Management Inc now owns 10,838 shares of the financial services provider’s stock valued at $154,000 after acquiring an additional 1,030 shares during the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

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.