Park Hotels & Resorts (NYSE:PK) Reaches New 52-Week High – Should You Buy?

Park Hotels & Resorts Inc. (NYSE:PK) shares reached a new 52-week high on Friday. The stock traded as high as $16.33 and last traded at $16.2940, with a volume of 646,195 shares changing hands. The stock had previously closed at $15.72.

Analysts Set New Price Targets

PK has been the topic of a number of recent research reports. Wells Fargo & Company raised shares of Park Hotels & Resorts to a “hold” rating in a research note on Thursday, July 23rd. JPMorgan Chase & Co. boosted their target price on shares of Park Hotels & Resorts from $13.00 to $14.00 and gave the stock an “underweight” rating in a research report on Monday, August 10th. Weiss Ratings upgraded shares of Park Hotels & Resorts from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, August 11th. UBS Group raised shares of Park Hotels & Resorts from a “neutral” rating to a “hold” rating in a research report on Monday, September 28th. Finally, Raymond James Financial upgraded Park Hotels & Resorts from a “market perform” rating to a “strong-buy” rating and set a $19.00 price target for the company in a research note on Monday, September 28th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Park Hotels & Resorts presently has an average rating of “Hold” and a consensus target price of $15.91.

Park Hotels & Resorts Stock Performance

The company’s 50-day moving average is $15.31 and its two-hundred day moving average is $13.77. The company has a market capitalization of $3.23 billion, a P/E ratio of -19.38 and a beta of 1.36. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 1.29.

Park Hotels & Resorts (NYSE:PK) last issued its quarterly earnings results on Thursday, August 6th. The financial services provider reported $0.24 EPS for the quarter, meeting analysts’ consensus estimates of $0.24. Park Hotels & Resorts had a negative net margin of 6.41% and a negative return on equity of 5.23%. The business had revenue of $680.00 million for the quarter, compared to analysts’ expectations of $659.68 million. During the same period last year, the business earned $0.64 earnings per share. The business’s quarterly revenue was up 1.2% on a year-over-year basis. Park Hotels & Resorts has set its FY 2026 guidance at 1.900-2.000 EPS. Equities analysts anticipate that Park Hotels & Resorts Inc. will post 1.86 earnings per share for the current fiscal year.

Park Hotels & Resorts Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 6.2%. The ex-dividend date of this dividend was Wednesday, September 30th. Park Hotels & Resorts’s dividend payout ratio is presently -120.48%.

Hedge Funds Weigh In On Park Hotels & Resorts

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in Park Hotels & Resorts in the second quarter worth about $444,311,000. Donald Smith & CO. Inc. purchased a new stake in Park Hotels & Resorts during the 2nd quarter valued at about $207,120,000. Bank of America Corp DE purchased a new stake in Park Hotels & Resorts during the 2nd quarter valued at about $136,488,000. Aegis Financial Corp bought a new stake in Park Hotels & Resorts during the 2nd quarter valued at about $21,735,000. Finally, Bank of New York Mellon Corp bought a new stake in Park Hotels & Resorts during the 2nd quarter valued at about $21,293,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

About Park Hotels & Resorts

Park Hotels & Resorts Inc (NYSE:PK) is a real estate investment trust that owns and leases a portfolio of hotels and resorts. The company focuses primarily on upper-upscale and luxury properties in high-demand business and leisure destinations.

Park’s portfolio includes full-service hotels operating under well-known hospitality brands, including Hilton, Hyatt and Marriott, as well as independent properties. Its hotels provide lodging, food and beverage, meeting and event facilities, resort amenities and other guest services.

Park Hotels & Resorts was formed in 2016 and became an independent, publicly traded company in 2017 after being spun off from Hilton Worldwide Holdings.