Zacks Investment Research lowered shares of Park Hotels & Resorts (NYSE:PK) from a hold rating to a sell rating in a research report released on Wednesday, Zacks.com reports.

According to Zacks, “Park Hotels & Resorts Inc. is a lodging Real Estate Company. The company operates luxury hotels and resorts in USA and international market. Park Hotels & Resorts Inc. is based in Mc Lean, Virginia. “

A number of other analysts have also recently weighed in on the stock. Capital One Financial assumed coverage on shares of Summit Hotel Properties in a report on Tuesday, June 25th. They set an equal weight rating and a $13.00 price objective on the stock. TheStreet cut shares of Weis Markets from a b- rating to a c+ rating in a report on Wednesday, June 5th. Finally, Deutsche Bank reaffirmed a hold rating and issued a GBX 1,775 ($23.19) target price on shares of in a report on Wednesday, June 26th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $33.00.

PK stock opened at $26.34 on Wednesday. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.57. Park Hotels & Resorts has a twelve month low of $25.30 and a twelve month high of $34.27. The business’s 50 day moving average is $27.61. The firm has a market capitalization of $5.33 billion, a PE ratio of 8.90, a P/E/G ratio of 2.30 and a beta of 1.26.

Park Hotels & Resorts (NYSE:PK) last released its quarterly earnings data on Monday, May 6th. The financial services provider reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.01. Park Hotels & Resorts had a net margin of 15.32% and a return on equity of 7.38%. The company had revenue of $659.00 million for the quarter, compared to analysts’ expectations of $655.79 million. During the same quarter last year, the company earned $0.65 earnings per share. The firm’s revenue for the quarter was down 1.3% on a year-over-year basis. On average, equities analysts predict that Park Hotels & Resorts will post 2.93 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were issued a $0.45 dividend. The ex-dividend date of this dividend was Thursday, June 27th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 6.83%. Park Hotels & Resorts’s payout ratio is 60.81%.

Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. increased its holdings in shares of Park Hotels & Resorts by 14.0% in the 1st quarter. BlackRock Inc. now owns 21,489,474 shares of the financial services provider’s stock valued at $667,891,000 after acquiring an additional 2,635,511 shares during the period. Daiwa Securities Group Inc. increased its stake in Park Hotels & Resorts by 0.9% in the 1st quarter. Daiwa Securities Group Inc. now owns 4,660,699 shares of the financial services provider’s stock valued at $144,855,000 after buying an additional 43,079 shares during the period. AJO LP increased its stake in Park Hotels & Resorts by 97.7% in the 1st quarter. AJO LP now owns 4,199,461 shares of the financial services provider’s stock valued at $130,519,000 after buying an additional 2,075,172 shares during the period. Geode Capital Management LLC increased its stake in Park Hotels & Resorts by 5.5% in the 4th quarter. Geode Capital Management LLC now owns 3,465,458 shares of the financial services provider’s stock valued at $90,408,000 after buying an additional 179,982 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Park Hotels & Resorts by 10.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,106,566 shares of the financial services provider’s stock valued at $80,708,000 after buying an additional 300,624 shares during the period.

About Park Hotels & Resorts

Park is the second largest publicly traded lodging REIT with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value. Park's portfolio consists of 52 premium-branded hotels and resorts with over 30,000 rooms, a substantial portion of which are located in prime United States markets with high barriers to entry.

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