Park Hotels & Resorts (NYSE:PK) Reaches New 52-Week High – Time to Buy?

Park Hotels & Resorts Inc. (NYSE:PK) shares reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $14.95 and last traded at $14.4550, with a volume of 5187960 shares changing hands. The stock had previously closed at $14.69.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Zacks Research upgraded Park Hotels & Resorts from a “strong sell” rating to a “hold” rating in a report on Thursday, February 19th. BMO Capital Markets restated a “market perform” rating and issued a $14.00 target price on shares of Park Hotels & Resorts in a report on Friday, June 12th. Barclays increased their target price on Park Hotels & Resorts from $9.00 to $12.00 and gave the company an “equal weight” rating in a report on Monday, June 1st. Weiss Ratings upgraded Park Hotels & Resorts from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, May 20th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $12.00 price objective on shares of Park Hotels & Resorts in a report on Wednesday, May 13th. One investment analyst has rated the stock with a Buy rating, ten have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Park Hotels & Resorts currently has a consensus rating of “Reduce” and an average target price of $12.68.

Park Hotels & Resorts Trading Down 1.6%

The company has a debt-to-equity ratio of 1.27, a current ratio of 1.25 and a quick ratio of 1.25. The company has a fifty day moving average of $12.00 and a 200-day moving average of $11.31. The firm has a market capitalization of $2.91 billion, a PE ratio of -13.26, a price-to-earnings-growth ratio of 1.97 and a beta of 1.37.

Park Hotels & Resorts (NYSE:PK) last announced its quarterly earnings data on Thursday, April 30th. The financial services provider reported $0.05 earnings per share (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 firm had revenue of $622.00 million for the quarter, compared to analysts’ expectations of $609.78 million. During the same quarter in the prior year, the business posted $0.46 earnings per share. Park Hotels & Resorts’s revenue was down 1.3% on a year-over-year basis. Park Hotels & Resorts has set its FY 2026 guidance at 1.740-1.900 EPS. On average, sell-side analysts anticipate that Park Hotels & Resorts Inc. will post 1.76 earnings per share for the current fiscal year.

Park Hotels & Resorts Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 6.9%. The ex-dividend date of this dividend is Tuesday, June 30th. Park Hotels & Resorts’s dividend payout ratio is presently -91.74%.

Hedge Funds Weigh In On Park Hotels & Resorts

Several hedge funds have recently bought and sold shares of PK. Amundi increased its position in Park Hotels & Resorts by 1.9% during the first quarter. Amundi now owns 115,143 shares of the financial services provider’s stock worth $1,119,000 after buying an additional 2,179 shares during the last quarter. Millennium Management LLC increased its position in Park Hotels & Resorts by 849.3% during the first quarter. Millennium Management LLC now owns 523,851 shares of the financial services provider’s stock worth $5,595,000 after buying an additional 468,668 shares during the last quarter. United Services Automobile Association acquired a new position in Park Hotels & Resorts during the first quarter worth $152,000. Empowered Funds LLC increased its position in Park Hotels & Resorts by 10.1% during the first quarter. Empowered Funds LLC now owns 22,380 shares of the financial services provider’s stock worth $239,000 after buying an additional 2,058 shares during the last quarter. Finally, Focus Partners Wealth increased its position in Park Hotels & Resorts by 30.6% during the first quarter. Focus Partners Wealth now owns 18,646 shares of the financial services provider’s stock worth $199,000 after buying an additional 4,374 shares during the last quarter. 92.69% of the stock is 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.