Park Hotels & Resorts Inc. (NYSE:PK) Receives Average Rating of “Hold” from Brokerages

Shares of Park Hotels & Resorts Inc. (NYSE:PK) have received an average recommendation of “Hold” from the eight ratings firms that are presently covering the stock, MarketBeat reports. Five research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $15.78.

Several research firms have commented on PK. Wolfe Research began coverage on shares of Park Hotels & Resorts in a report on Wednesday, September 27th. They issued an “outperform” rating and a $16.00 price target on the stock. HSBC started coverage on shares of Park Hotels & Resorts in a report on Monday, October 23rd. They issued a “hold” rating and a $13.00 price target for the company. Wedbush assumed coverage on Park Hotels & Resorts in a research report on Tuesday, October 3rd. They set a “neutral” rating and a $13.00 price target for the company. Barclays upgraded shares of Park Hotels & Resorts from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $16.00 to $19.00 in a report on Monday, November 6th. Finally, StockNews.com began coverage on shares of Park Hotels & Resorts in a research report on Thursday, October 5th. They set a “sell” rating on the stock.

Insider Activity at Park Hotels & Resorts

In other news, Director Geoffrey Garrett sold 14,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $12.83, for a total value of $179,620.00. Following the completion of the transaction, the director now owns 31,777 shares of the company’s stock, valued at $407,698.91. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.26% of the stock is currently owned by company insiders.

Institutional Trading of Park Hotels & Resorts

Several hedge funds have recently modified their holdings of PK. Mitsubishi UFJ Trust & Banking Corp grew its holdings in Park Hotels & Resorts by 102.0% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 4,026 shares of the financial services provider’s stock worth $50,000 after acquiring an additional 2,033 shares in the last quarter. Spire Wealth Management raised its stake in Park Hotels & Resorts by 1,254.0% in the first quarter. Spire Wealth Management now owns 4,265 shares of the financial services provider’s stock valued at $53,000 after buying an additional 3,950 shares in the last quarter. Covestor Ltd lifted its holdings in Park Hotels & Resorts by 614.1% during the 2nd quarter. Covestor Ltd now owns 4,256 shares of the financial services provider’s stock worth $55,000 after buying an additional 3,660 shares during the last quarter. Parallel Advisors LLC boosted its position in shares of Park Hotels & Resorts by 76.1% during the 1st quarter. Parallel Advisors LLC now owns 4,749 shares of the financial services provider’s stock worth $59,000 after acquiring an additional 2,052 shares in the last quarter. Finally, Quadrant Capital Group LLC increased its holdings in shares of Park Hotels & Resorts by 35.2% in the 2nd quarter. Quadrant Capital Group LLC now owns 4,617 shares of the financial services provider’s stock valued at $59,000 after acquiring an additional 1,201 shares during the last quarter. 91.40% of the stock is currently owned by institutional investors and hedge funds.

Park Hotels & Resorts Price Performance

Shares of NYSE PK opened at $14.07 on Friday. The business’s 50 day moving average price is $12.38 and its 200 day moving average price is $12.85. The firm has a market cap of $2.95 billion, a P/E ratio of -52.11, a P/E/G ratio of 0.87 and a beta of 1.91. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 1.14. Park Hotels & Resorts has a 52 week low of $10.70 and a 52 week high of $15.38.

Park Hotels & Resorts Announces Dividend

The company also recently announced a None dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 29th will be paid a dividend of $0.77 per share. The ex-dividend date of this dividend is Thursday, December 28th. Park Hotels & Resorts’s payout ratio is -222.22%.

Park Hotels & Resorts Company Profile

Park is one of the largest publicly-traded lodging REITs with a diverse portfolio of iconic and market-leading hotels and resorts with significant underlying real estate value. Park's portfolio currently consists of 43 premium-branded hotels and resorts (excluding the Hilton San Francisco Hotels) with over 26,000 rooms primarily located in prime city center and resort locations.