Park Hotels & Resorts Inc. (NYSE:PK) Given Consensus Rating of “Hold” by Brokerages

Park Hotels & Resorts Inc. (NYSE:PK) has been assigned a consensus rating of “Hold” from the fourteen ratings firms that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, eleven have issued a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $14.0833.

Several brokerages have commented on PK. Wells Fargo & Company raised Park Hotels & Resorts to a “hold” rating in a report on Thursday, July 23rd. Morgan Stanley upped their target price on Park Hotels & Resorts from $10.50 to $11.00 and gave the stock an “equal weight” rating in a research note on Friday, July 17th. Cantor Fitzgerald increased their target price on Park Hotels & Resorts from $12.00 to $15.00 and gave the company a “neutral” rating in a research report on Tuesday, August 11th. Weiss Ratings raised shares of Park Hotels & Resorts from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, August 11th. Finally, LADENBURG THALM/SH SH boosted their price target on shares of Park Hotels & Resorts from $16.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, June 16th.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. BlackRock Inc. acquired a new stake in Park Hotels & Resorts in the 2nd quarter worth about $444,311,000. Donald Smith & CO. Inc. increased its stake in Park Hotels & Resorts by 14.2% during the 4th quarter. Donald Smith & CO. Inc. now owns 14,617,921 shares of the financial services provider’s stock worth $152,903,000 after buying an additional 1,813,338 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of Park Hotels & Resorts by 1.6% during the third quarter. Bank of America Corp DE now owns 13,074,474 shares of the financial services provider’s stock valued at $144,865,000 after acquiring an additional 203,922 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of 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 acquiring an additional 3,361,382 shares during the last quarter. Finally, Sculptor Capital LP lifted its position in shares of Park Hotels & Resorts by 154.1% in 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 acquiring an additional 3,962,304 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Park Hotels & Resorts Price Performance

NYSE:PK opened at $15.84 on Monday. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.53 and a quick ratio of 1.53. The company has a 50 day moving average price of $14.86 and a 200-day moving average price of $12.74. Park Hotels & Resorts has a 1-year low of $9.84 and a 1-year high of $16.20. The firm has a market cap of $3.19 billion, a price-to-earnings ratio of -19.08, a price-to-earnings-growth ratio of 2.06 and a beta of 1.34.

Park Hotels & Resorts (NYSE:PK) last posted its earnings results on Wednesday, August 5th. The financial services provider reported $0.24 EPS for the quarter, meeting analysts’ consensus estimates of $0.24. The firm had revenue of $680.00 million for the quarter, compared to analysts’ expectations of $659.68 million. Park Hotels & Resorts had a negative return on equity of 5.23% and a negative net margin of 6.41%.The company’s quarterly revenue was up 1.2% on a year-over-year basis. During the same period last year, the firm earned $0.64 EPS. Equities research analysts forecast that Park Hotels & Resorts will post 1.83 EPS for the current year.

Park Hotels & Resorts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be given a $0.25 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $1.00 annualized dividend and a dividend yield of 6.3%. Park Hotels & Resorts’s dividend payout ratio (DPR) is -120.48%.

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.