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

Park Hotels & Resorts Inc. (NYSE:PK) has received an average recommendation of “Reduce” from the thirteen analysts that are covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $12.9545.

PK has been the subject of several recent research reports. Wells Fargo & Company raised their price target on shares of Park Hotels & Resorts from $12.00 to $15.00 and gave the company an “equal weight” rating in a research report on Thursday, June 18th. Weiss Ratings upgraded Park Hotels & Resorts from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, May 20th. BMO Capital Markets reiterated a “market perform” rating and issued a $14.00 target price on shares of Park Hotels & Resorts in a report on Friday, June 12th. Cantor Fitzgerald reissued a “neutral” rating and set a $12.00 target price on shares of Park Hotels & Resorts in a research note on Wednesday, May 13th. Finally, LADENBURG THALM/SH SH upped their price target on Park Hotels & Resorts from $16.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, June 16th.

Park Hotels & Resorts Trading Up 0.1%

PK stock traded up $0.01 during midday trading on Friday, hitting $14.15. 3,378,707 shares of the company’s stock were exchanged, compared to its average volume of 5,290,614. Park Hotels & Resorts has a 1-year low of $9.84 and a 1-year high of $14.95. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.27. The stock has a market capitalization of $2.85 billion, a PE ratio of -12.99, a P/E/G ratio of 1.90 and a beta of 1.33. The business has a 50-day simple moving average of $13.09 and a two-hundred day simple moving average of $11.74.

Park Hotels & Resorts (NYSE:PK) last issued its quarterly earnings data 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). Park Hotels & Resorts had a negative return on equity of 6.71% and a negative net margin of 8.49%.The company had revenue of $622.00 million during the quarter, compared to analyst estimates of $609.77 million. During the same quarter in the prior year, the company posted $0.46 earnings per share. The business’s revenue was down 1.3% compared to the same quarter last year. Park Hotels & Resorts has set its FY 2026 guidance at 1.740-1.900 EPS. On average, sell-side analysts predict that Park Hotels & Resorts will post 1.76 EPS for the current fiscal year.

Park Hotels & Resorts Announces Dividend

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

Institutional Trading of Park Hotels & Resorts

A number of hedge funds and other institutional investors have recently bought and sold shares of PK. Danske Bank A S purchased a new position in shares of Park Hotels & Resorts in the 3rd quarter valued at about $25,000. Fifth Third Bancorp lifted its stake in Park Hotels & Resorts by 68.8% during the first quarter. Fifth Third Bancorp now owns 2,604 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 1,061 shares during the last quarter. Advisory Services Network LLC acquired a new position in Park Hotels & Resorts in the third quarter valued at approximately $34,000. Harbor Capital Advisors Inc. increased its stake in Park Hotels & Resorts by 293.1% in the fourth quarter. Harbor Capital Advisors Inc. now owns 5,181 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 3,863 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in Park Hotels & Resorts by 33.4% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,844 shares of the financial services provider’s stock valued at $61,000 after purchasing an additional 1,464 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

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.