Park Hotels & Resorts (NYSE:PK) Price Target Raised to $11.00

Park Hotels & Resorts (NYSE:PK) had its target price lifted by Morgan Stanley from $10.50 to $11.00 in a research report report published on Friday,Benzinga reports. The firm currently has an equal weight rating on the financial services provider’s stock.

A number of other equities research analysts also recently commented on PK. BMO Capital Markets reiterated a “market perform” rating and issued a $14.00 target price on shares of Park Hotels & Resorts in a research report on Friday, June 12th. LADENBURG THALM/SH SH raised their price target on Park Hotels & Resorts from $16.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, June 16th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $12.00 price objective on shares of Park Hotels & Resorts in a research note on Wednesday, May 13th. Wells Fargo & Company upped their price objective on Park Hotels & Resorts from $12.00 to $15.00 and gave the stock an “equal weight” rating in a report on Thursday, June 18th. Finally, 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 research report on Monday, June 1st. One analyst has rated the stock with a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Park Hotels & Resorts currently has an average rating of “Reduce” and a consensus target price of $13.00.

Park Hotels & Resorts Stock Performance

Shares of NYSE PK opened at $14.87 on Friday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.25 and a current ratio of 1.25. The company has a market cap of $2.99 billion, a P/E ratio of -13.64, a P/E/G ratio of 2.00 and a beta of 1.33. The firm’s fifty day moving average is $13.41 and its two-hundred day moving average is $11.88. Park Hotels & Resorts has a 52-week low of $9.84 and a 52-week high of $14.95.

Park Hotels & Resorts (NYSE:PK) last announced its quarterly earnings results on Thursday, April 30th. The financial services provider reported $0.05 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 company had revenue of $622.00 million during the quarter, compared to analysts’ expectations of $609.77 million. During the same quarter in the previous year, the firm earned $0.46 EPS. The firm’s revenue for the quarter was down 1.3% compared to the same quarter last year. Park Hotels & Resorts has set its FY 2026 guidance at 1.740-1.900 EPS. As a group, analysts anticipate that Park Hotels & Resorts will post 1.76 EPS for the current fiscal year.

Park Hotels & Resorts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 6.7%. The ex-dividend date was Tuesday, June 30th. Park Hotels & Resorts’s dividend payout ratio is currently -91.74%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Amundi raised 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 valued at $1,119,000 after purchasing an additional 2,179 shares during the period. Millennium Management LLC lifted its stake in shares of Park Hotels & Resorts by 849.3% in the 1st quarter. Millennium Management LLC now owns 523,851 shares of the financial services provider’s stock valued at $5,595,000 after purchasing an additional 468,668 shares during the last quarter. United Services Automobile Association purchased a new position in shares of Park Hotels & Resorts in the 1st quarter worth approximately $152,000. Empowered Funds LLC boosted its holdings in shares of Park Hotels & Resorts by 10.1% in the 1st quarter. Empowered Funds LLC now owns 22,380 shares of the financial services provider’s stock worth $239,000 after purchasing an additional 2,058 shares during the period. Finally, Focus Partners Wealth increased its position in shares of Park Hotels & Resorts by 30.6% during the 1st quarter. Focus Partners Wealth now owns 18,646 shares of the financial services provider’s stock valued at $199,000 after purchasing an additional 4,374 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

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.