Park Hotels & Resorts (NYSE:PK) Reaches New 1-Year High – Here’s Why

Park Hotels & Resorts Inc. (NYSE:PK)’s share price reached a new 52-week high on Friday . The stock traded as high as $14.60 and last traded at $14.4730, with a volume of 91577 shares traded. The stock had previously closed at $14.36.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PK. Weiss Ratings raised Park Hotels & Resorts from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, May 20th. Wells Fargo & Company raised their price target on Park Hotels & Resorts from $10.00 to $12.00 and gave the company an “equal weight” rating in a report on Monday, June 1st. Truist Financial lifted their price target on Park Hotels & Resorts from $12.00 to $13.00 and gave the company a “hold” rating in a research report on Tuesday, May 26th. Cantor Fitzgerald reissued a “neutral” rating and set a $12.00 price objective on shares of Park Hotels & Resorts in a report on Wednesday, May 13th. Finally, LADENBURG THALM/SH SH assumed coverage on shares of Park Hotels & Resorts in a research report on Thursday, March 26th. They issued a “buy” rating and a $16.00 price objective on the stock. One research analyst has rated the stock with a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $12.15.

Park Hotels & Resorts Stock Up 1.3%

The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.27. The stock has a 50-day simple moving average of $11.67 and a two-hundred day simple moving average of $11.21. The firm has a market cap of $2.93 billion, a PE ratio of -13.34, a P/E/G ratio of 1.90 and a beta of 1.37.

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

Park Hotels & Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $1.00 annualized dividend and a yield of 6.9%. Park Hotels & Resorts’s dividend payout ratio is currently -91.74%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Parallel Advisors LLC lifted its holdings in shares of Park Hotels & Resorts by 21.8% in the 1st quarter. Parallel Advisors LLC now owns 51,726 shares of the financial services provider’s stock worth $545,000 after acquiring an additional 9,250 shares during the last quarter. NewEdge Advisors LLC bought a new position in shares of Park Hotels & Resorts during the 1st quarter valued at $430,000. Amundi raised its position in Park Hotels & Resorts by 20.2% in the 1st quarter. Amundi now owns 138,431 shares of the financial services provider’s stock worth $1,458,000 after purchasing an additional 23,245 shares during the period. Parvin Asset Management LLC raised its position in Park Hotels & Resorts by 112.6% in the 1st quarter. Parvin Asset Management LLC now owns 19,400 shares of the financial services provider’s stock worth $204,000 after purchasing an additional 10,275 shares during the period. Finally, California State Teachers Retirement System lifted its stake in Park Hotels & Resorts by 26.2% in the first quarter. California State Teachers Retirement System now owns 242,707 shares of the financial services provider’s stock worth $2,556,000 after purchasing an additional 50,421 shares during the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

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.