Park Hotels & Resorts (NYSE:PK) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of Park Hotels & Resorts (NYSE:PK) from a sell rating to a hold rating in a report issued on Wednesday.

PK has been the subject of a number of other reports. Jefferies Financial Group raised Park Hotels & Resorts from a hold rating to a buy rating and upped their price target for the company from $14.00 to $21.00 in a research note on Tuesday, January 2nd. Wells Fargo & Company boosted their price objective on Park Hotels & Resorts from $17.00 to $18.00 and gave the company an equal weight rating in a research report on Thursday, March 21st. Barclays boosted their price objective on Park Hotels & Resorts from $19.00 to $21.00 and gave the company an overweight rating in a research report on Friday, March 1st. JPMorgan Chase & Co. raised Park Hotels & Resorts from an underweight rating to a neutral rating and upped their price target for the stock from $11.00 to $16.00 in a research report on Thursday, December 14th. Finally, Truist Financial upped their price target on Park Hotels & Resorts from $20.00 to $21.00 and gave the stock a buy rating in a research report on Thursday, March 14th. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Park Hotels & Resorts currently has a consensus rating of Hold and an average price target of $17.58.

Park Hotels & Resorts Stock Performance

Shares of NYSE:PK opened at $17.49 on Wednesday. The stock has a market capitalization of $3.68 billion, a P/E ratio of 38.02, a P/E/G ratio of 0.68 and a beta of 2.02. Park Hotels & Resorts has a 1-year low of $11.05 and a 1-year high of $18.05. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 1.19. The business has a 50-day moving average price of $16.27 and a two-hundred day moving average price of $14.77.

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

Park Hotels & Resorts Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Friday, March 29th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 5.72%. The ex-dividend date of this dividend is Wednesday, March 27th. This is an increase from Park Hotels & Resorts’s previous quarterly dividend of $0.15. Park Hotels & Resorts’s dividend payout ratio is presently 217.39%.

Institutional Investors Weigh In On Park Hotels & Resorts

Several large investors have recently made changes to their positions in the stock. First Trust Advisors LP increased its position in Park Hotels & Resorts by 1.5% during the 1st quarter. First Trust Advisors LP now owns 47,964 shares of the financial services provider’s stock worth $937,000 after buying an additional 686 shares during the period. Cascade Investment Advisors Inc. increased its position in Park Hotels & Resorts by 1.1% during the 4th quarter. Cascade Investment Advisors Inc. now owns 66,222 shares of the financial services provider’s stock worth $1,013,000 after buying an additional 725 shares during the period. Signaturefd LLC increased its position in Park Hotels & Resorts by 12.7% during the 4th quarter. Signaturefd LLC now owns 6,437 shares of the financial services provider’s stock worth $98,000 after buying an additional 727 shares during the period. Truist Financial Corp grew its holdings in shares of Park Hotels & Resorts by 3.8% during the 4th quarter. Truist Financial Corp now owns 22,335 shares of the financial services provider’s stock worth $342,000 after purchasing an additional 816 shares in the last quarter. Finally, Spire Wealth Management grew its holdings in shares of Park Hotels & Resorts by 20.1% during the 3rd quarter. Spire Wealth Management now owns 5,145 shares of the financial services provider’s stock worth $63,000 after purchasing an additional 860 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

About Park Hotels & Resorts

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.