Park Hotels & Resorts (NYSE:PK) Reaches New 1-Year High – Still a Buy?

Park Hotels & Resorts Inc. (NYSE:PK)’s stock price reached a new 52-week high on Friday . The stock traded as high as $14.16 and last traded at $14.1450, with a volume of 1538452 shares changing hands. The stock had previously closed at $14.04.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Cantor Fitzgerald restated a “neutral” rating and set a $12.00 price target on shares of Park Hotels & Resorts in a report on Wednesday, May 13th. Wall Street Zen upgraded Park Hotels & Resorts from a “sell” rating to a “hold” rating in a report on Sunday, March 1st. Wells Fargo & Company lifted their target price on Park Hotels & Resorts from $10.00 to $12.00 and gave the stock an “equal weight” rating in a research report on Monday. LADENBURG THALM/SH SH assumed coverage on Park Hotels & Resorts in a research report on Thursday, March 26th. They set a “buy” rating and a $16.00 target price for the company. Finally, Truist Financial lifted their target price on Park Hotels & Resorts from $12.00 to $13.00 and gave the stock a “hold” rating in a research report on Tuesday, May 26th. One investment analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average price target of $12.15.

Park Hotels & Resorts Stock Performance

The firm has a market capitalization of $2.85 billion, a P/E ratio of -13.00, a P/E/G ratio of 1.84 and a beta of 1.37. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.25 and a quick ratio of 1.25. The firm has a 50-day moving average price of $11.32 and a two-hundred day moving average price of $11.07.

Park Hotels & Resorts (NYSE:PK) last announced its quarterly earnings results on Thursday, April 30th. The financial services provider reported $0.05 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.33). The firm had revenue of $622.00 million for the quarter, compared to analysts’ expectations of $609.78 million. Park Hotels & Resorts had a negative net margin of 8.49% and a negative return on equity of 6.71%. The business’s quarterly revenue was down 1.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.46 EPS. Park Hotels & Resorts has set its FY 2026 guidance at 1.740-1.900 EPS. On average, analysts forecast that Park Hotels & Resorts Inc. will post 1.74 EPS for the current fiscal year.

Park Hotels & Resorts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be paid a dividend of $0.25 per share. The ex-dividend date is Tuesday, June 30th. This represents a $1.00 annualized dividend and a dividend yield of 7.1%. Park Hotels & Resorts’s dividend payout ratio (DPR) is currently -91.74%.

Hedge Funds Weigh In On Park Hotels & Resorts

Several institutional investors have recently made changes to their positions in PK. Sculptor Capital LP increased its stake in shares of Park Hotels & Resorts by 154.1% during the second quarter. Sculptor Capital LP now owns 6,534,153 shares of the financial services provider’s stock valued at $66,844,000 after buying an additional 3,962,304 shares during the period. AQR Capital Management LLC boosted its position in Park Hotels & Resorts by 76.7% during the second quarter. AQR Capital Management LLC now owns 7,744,912 shares of the financial services provider’s stock valued at $79,230,000 after purchasing an additional 3,361,382 shares in the last quarter. Bank of America Corp DE boosted its position in Park Hotels & Resorts by 34.6% during the second quarter. Bank of America Corp DE now owns 12,870,552 shares of the financial services provider’s stock valued at $131,666,000 after purchasing an additional 3,309,275 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Park Hotels & Resorts during the third quarter valued at about $20,905,000. Finally, Donald Smith & CO. Inc. boosted its position in Park Hotels & Resorts by 14.2% during the fourth quarter. Donald Smith & CO. Inc. now owns 14,617,921 shares of the financial services provider’s stock valued at $152,903,000 after purchasing an additional 1,813,338 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

About Park Hotels & Resorts

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.