Park Hotels & Resorts Inc. (NYSE:PK) Receives $17.58 Average PT from Analysts

Park Hotels & Resorts Inc. (NYSE:PK) has been assigned a consensus rating of “Hold” from the eleven ratings firms that are currently covering the stock, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $17.58.

Several equities research analysts have commented on PK shares. Wells Fargo & Company boosted their price objective on Park Hotels & Resorts from $17.00 to $18.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 21st. JPMorgan Chase & Co. upgraded Park Hotels & Resorts from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $11.00 to $16.00 in a report on Thursday, December 14th. Barclays boosted their target price on Park Hotels & Resorts from $19.00 to $21.00 and gave the stock an “overweight” rating in a report on Friday, March 1st. Truist Financial boosted their target price on Park Hotels & Resorts from $20.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, March 14th. Finally, UBS Group boosted their target price on Park Hotels & Resorts from $14.00 to $18.00 and gave the stock a “neutral” rating in a report on Wednesday, March 6th.

Park Hotels & Resorts Trading Down 2.7 %

Shares of NYSE:PK opened at $17.15 on Monday. Park Hotels & Resorts has a 12-month low of $11.05 and a 12-month high of $18.05. The business’s fifty day simple moving average is $16.52 and its 200-day simple moving average is $15.04. The company has a market capitalization of $3.61 billion, a PE ratio of 37.28, a P/E/G ratio of 0.69 and a beta of 2.03. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 1.19.

Park Hotels & Resorts (NYSE:PK) last posted its quarterly earnings data on Tuesday, February 27th. The financial services provider reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.39. Park Hotels & Resorts had a return on equity of 2.44% and a net margin of 3.60%. The firm had revenue of $657.00 million during the quarter, compared to analysts’ expectations of $665.16 million. As a group, equities research analysts predict that Park Hotels & Resorts will post 2 earnings per share for the current fiscal year.

Park Hotels & Resorts Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Friday, March 29th will be paid a dividend of $0.25 per share. This is an increase from Park Hotels & Resorts’s previous quarterly dividend of $0.15. The ex-dividend date is Wednesday, March 27th. This represents a $1.00 annualized dividend and a dividend yield of 5.83%. Park Hotels & Resorts’s dividend payout ratio is 217.39%.

Institutional Investors Weigh In On Park Hotels & Resorts

Several hedge funds have recently made changes to their positions in the business. Goldman Sachs Group Inc. lifted its position in Park Hotels & Resorts by 54.6% in the second quarter. Goldman Sachs Group Inc. now owns 11,358,377 shares of the financial services provider’s stock valued at $145,614,000 after purchasing an additional 4,010,239 shares during the period. Norges Bank acquired a new stake in Park Hotels & Resorts in the fourth quarter valued at about $31,745,000. Millennium Management LLC acquired a new stake in Park Hotels & Resorts in the second quarter valued at about $24,904,000. JPMorgan Chase & Co. lifted its position in Park Hotels & Resorts by 107.7% in the first quarter. JPMorgan Chase & Co. now owns 3,517,709 shares of the financial services provider’s stock valued at $43,479,000 after purchasing an additional 1,824,085 shares during the period. Finally, Los Angeles Capital Management LLC lifted its position in Park Hotels & Resorts by 601.1% in the first quarter. Los Angeles Capital Management LLC now owns 2,111,004 shares of the financial services provider’s stock valued at $36,921,000 after purchasing an additional 1,809,886 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

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.