Park Hotels & Resorts Inc. (NYSE:PK) Receives $17.27 Average Price Target from Brokerages

Shares of Park Hotels & Resorts Inc. (NYSE:PK) have been given a consensus rating of “Hold” by the eleven analysts that are presently covering the company, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $17.27.

A number of equities analysts have issued reports on PK shares. UBS Group raised their target price on shares of Park Hotels & Resorts from $14.00 to $18.00 and gave the stock a “neutral” rating in a report on Wednesday, March 6th. Citigroup upgraded Park Hotels & Resorts from a “neutral” rating to a “buy” rating and raised their target price for the company from $14.00 to $20.00 in a research note on Friday, March 22nd. Truist Financial lifted their price objective 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. Barclays upped 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. Finally, StockNews.com raised Park Hotels & Resorts from a “sell” rating to a “hold” rating in a report on Wednesday, May 1st.

Hedge Funds Weigh In On Park Hotels & Resorts

Several hedge funds have recently made changes to their positions in PK. Norges Bank acquired a new position in Park Hotels & Resorts in the fourth quarter worth approximately $31,745,000. Los Angeles Capital Management LLC boosted its holdings in shares of Park Hotels & Resorts by 601.1% in the first quarter. Los Angeles Capital Management LLC now owns 2,111,004 shares of the financial services provider’s stock worth $36,921,000 after buying an additional 1,809,886 shares during the period. Donald Smith & CO. Inc. raised its holdings in shares of Park Hotels & Resorts by 36.0% during the fourth quarter. Donald Smith & CO. Inc. now owns 6,529,666 shares of the financial services provider’s stock valued at $99,904,000 after acquiring an additional 1,728,921 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of Park Hotels & Resorts by 3,694.6% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 1,355,522 shares of the financial services provider’s stock valued at $20,739,000 after acquiring an additional 1,319,800 shares in the last quarter. Finally, SG Americas Securities LLC boosted its stake in Park Hotels & Resorts by 15,714.0% in the 1st quarter. SG Americas Securities LLC now owns 1,301,019 shares of the financial services provider’s stock worth $22,755,000 after purchasing an additional 1,292,792 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

Park Hotels & Resorts Trading Down 1.6 %

Shares of NYSE PK opened at $16.13 on Friday. The stock has a market capitalization of $3.40 billion, a P/E ratio of 36.65, a PEG ratio of 0.83 and a beta of 2.03. The stock’s 50 day moving average price is $16.98 and its two-hundred day moving average price is $15.67. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 1.20. Park Hotels & Resorts has a 52-week low of $11.05 and a 52-week high of $18.05.

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 (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.39. Park Hotels & Resorts had a return on equity of 3.08% and a net margin of 3.42%. The firm had revenue of $657.00 million for the quarter, compared to analysts’ expectations of $665.16 million. On average, analysts anticipate that Park Hotels & Resorts will post 2.06 earnings per share for the current fiscal year.

Park Hotels & Resorts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 6.20%. The ex-dividend date is Friday, June 28th. Park Hotels & Resorts’s dividend payout ratio (DPR) is presently 227.28%.

Park Hotels & Resorts Company Profile

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.