Park Hotels & Resorts Inc. (NYSE:PK) Receives $18.55 Average PT from Analysts

Park Hotels & Resorts Inc. (NYSE:PK) has received an average rating of “Moderate Buy” from the eleven ratings firms that are presently covering the company, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $18.55.

A number of equities analysts have weighed in on PK shares. Truist Financial reduced their price target on Park Hotels & Resorts from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th. Compass Point decreased their target price 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. Bank of America cut their price target on shares of Park Hotels & Resorts from $17.00 to $16.50 and set a “neutral” rating on the stock in a research report on Monday, October 21st. Wells Fargo & Company raised their price objective on Park Hotels & Resorts from $16.00 to $17.00 and gave the company an “equal weight” rating in a report on Monday, December 9th. Finally, UBS Group upped their target price on Park Hotels & Resorts from $14.00 to $15.00 and gave the stock a “neutral” rating in a report on Monday, November 18th.

Hedge Funds Weigh In On Park Hotels & Resorts

Several large investors have recently modified their holdings of PK. Algert Global LLC grew its stake in Park Hotels & Resorts by 48.6% in the 2nd quarter. Algert Global LLC now owns 752,273 shares of the financial services provider’s stock valued at $11,269,000 after buying an additional 245,973 shares during the last quarter. Quantbot Technologies LP grew its position in shares of Park Hotels & Resorts by 95.7% in the second quarter. Quantbot Technologies LP now owns 367,900 shares of the financial services provider’s stock valued at $5,511,000 after purchasing an additional 179,884 shares during the last quarter. XTX Topco Ltd increased its stake in shares of Park Hotels & Resorts by 420.7% during the third quarter. XTX Topco Ltd now owns 89,168 shares of the financial services provider’s stock worth $1,257,000 after purchasing an additional 72,044 shares during the period. National Bank of Canada FI lifted its holdings in Park Hotels & Resorts by 70.9% during the 2nd quarter. National Bank of Canada FI now owns 223,600 shares of the financial services provider’s stock worth $3,298,000 after purchasing an additional 92,800 shares during the last quarter. Finally, AQR Capital Management LLC boosted its stake in Park Hotels & Resorts by 287.7% in the 2nd quarter. AQR Capital Management LLC now owns 5,252,853 shares of the financial services provider’s stock valued at $77,217,000 after purchasing an additional 3,897,889 shares during the period. 92.69% of the stock is owned by institutional investors.

Park Hotels & Resorts Trading Down 7.0 %

Shares of NYSE:PK opened at $14.41 on Friday. The firm has a market cap of $2.97 billion, a price-to-earnings ratio of 9.18, a PEG ratio of 6.90 and a beta of 2.03. Park Hotels & Resorts has a 12 month low of $13.23 and a 12 month high of $18.05. The company’s fifty day simple moving average is $14.76 and its 200 day simple moving average is $14.68. 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 (NYSE:PK) last released its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.21). The firm had revenue of $649.00 million during the quarter, compared to analyst estimates of $646.15 million. Park Hotels & Resorts had a net margin of 12.66% and a return on equity of 9.63%. The business’s revenue for the quarter was down 4.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.51 EPS. As a group, research analysts forecast that Park Hotels & Resorts will post 1.96 EPS for the current fiscal year.

Park Hotels & Resorts Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.65 per share. This is an increase from Park Hotels & Resorts’s previous quarterly dividend of $0.25. This represents a $2.60 annualized dividend and a dividend yield of 18.04%. The ex-dividend date of this dividend is Tuesday, December 31st. Park Hotels & Resorts’s payout ratio is currently 63.69%.

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.