StockNews.com Lowers Park Hotels & Resorts (NYSE:PK) to Sell

StockNews.com downgraded shares of Park Hotels & Resorts (NYSE:PK) from a hold rating to a sell rating in a report released on Tuesday.

A number of other analysts have also commented on the company. Wells Fargo & Company lifted their price target on Park Hotels & Resorts from $17.00 to $18.00 and gave the company an equal weight rating in a research note on Thursday, March 21st. Barclays lifted their target price on shares of Park Hotels & Resorts from $19.00 to $21.00 and gave the stock an overweight rating in a research report on Friday, March 1st. UBS Group upped their price target on shares of Park Hotels & Resorts from $14.00 to $18.00 and gave the company a neutral rating in a research report on Wednesday, March 6th. Truist Financial upped their price target on shares of Park Hotels & Resorts from $20.00 to $21.00 and gave the company a buy rating in a research report on Thursday, March 14th. Finally, Jefferies Financial Group upgraded shares of 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 report on Tuesday, January 2nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Park Hotels & Resorts currently has a consensus rating of Hold and an average target price of $17.58.

Park Hotels & Resorts Trading Down 2.7 %

PK opened at $16.33 on Tuesday. The company’s 50 day moving average is $16.88 and its 200-day moving average is $15.38. The company has a market cap of $3.44 billion, a P/E ratio of 35.50, a PEG ratio of 0.86 and a beta of 2.03. 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.

Park Hotels & Resorts (NYSE:PK) last posted its earnings results on Tuesday, February 27th. The financial services provider reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.39. Park Hotels & Resorts had a net margin of 3.60% and a return on equity of 2.44%. The firm had revenue of $657.00 million for the quarter, compared to analysts’ expectations of $665.16 million. Equities research analysts predict that Park Hotels & Resorts will post 2.06 earnings per share for the current fiscal year.

Park Hotels & Resorts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, June 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.12%. Park Hotels & Resorts’s payout ratio is presently 217.39%.

Institutional Investors Weigh In On Park Hotels & Resorts

Hedge funds and other institutional investors have recently bought and sold shares of the stock. GraniteShares Advisors LLC bought a new stake in shares of Park Hotels & Resorts during the fourth quarter valued at approximately $1,469,000. FMR LLC increased its stake in Park Hotels & Resorts by 18.2% during the 3rd quarter. FMR LLC now owns 884,843 shares of the financial services provider’s stock valued at $10,901,000 after purchasing an additional 136,434 shares in the last quarter. Vanguard Group Inc. raised its holdings in Park Hotels & Resorts by 1.1% during the third quarter. Vanguard Group Inc. now owns 33,109,654 shares of the financial services provider’s stock worth $407,911,000 after buying an additional 347,812 shares during the last quarter. Landscape Capital Management L.L.C. lifted its stake in shares of Park Hotels & Resorts by 136.4% in the third quarter. Landscape Capital Management L.L.C. now owns 67,690 shares of the financial services provider’s stock valued at $834,000 after buying an additional 39,062 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. increased its position in shares of Park Hotels & Resorts by 200.0% during the third quarter. Adage Capital Partners GP L.L.C. now owns 900,000 shares of the financial services provider’s stock worth $11,088,000 after acquiring an additional 600,000 shares in the last quarter. 92.69% of the stock is owned by institutional investors.

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.