Park Hotels & Resorts (NYSE:PK) Hits New 52-Week Low – Should You Sell?

Park Hotels & Resorts Inc. (NYSE:PK)’s stock price reached a new 52-week low on Tuesday . The stock traded as low as $12.75 and last traded at $12.75, with a volume of 112372 shares changing hands. The stock had previously closed at $12.94.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on PK shares. UBS Group lowered their price objective on shares of Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating on the stock in a research note on Monday, February 3rd. StockNews.com upgraded Park Hotels & Resorts from a “sell” rating to a “hold” rating in a research note on Thursday. Wells Fargo & Company lifted their target price on Park Hotels & Resorts from $16.00 to $17.00 and gave the stock an “equal weight” rating in a research note on Monday, December 9th. Bank of America dropped their price target on Park Hotels & Resorts from $17.00 to $16.50 and set a “neutral” rating on the stock in a research note on Monday, October 21st. Finally, Compass Point reduced their price objective on shares of Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Park Hotels & Resorts presently has an average rating of “Moderate Buy” and an average target price of $18.45.

Park Hotels & Resorts Trading Down 1.8 %

The company has a market capitalization of $2.63 billion, a price-to-earnings ratio of 8.10 and a beta of 2.00. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.51 and a quick ratio of 1.51. The business’s 50-day moving average price is $14.20 and its two-hundred day moving average price is $14.40.

Park Hotels & Resorts Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a dividend of $0.65 per share. This is an increase from Park Hotels & Resorts’s previous quarterly dividend of $0.25. This represents a $2.60 annualized dividend and a dividend yield of 20.44%. The ex-dividend date was Tuesday, December 31st. Park Hotels & Resorts’s dividend payout ratio is currently 63.69%.

Institutional Investors Weigh In On Park Hotels & Resorts

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Harbor Capital Advisors Inc. bought a new stake in shares of Park Hotels & Resorts during the third quarter worth about $33,000. Venturi Wealth Management LLC grew its stake in Park Hotels & Resorts by 281.6% during the third quarter. Venturi Wealth Management LLC now owns 3,850 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 2,841 shares during the period. Quadrant Capital Group LLC grew its position in shares of Park Hotels & Resorts by 38.4% during the 4th quarter. Quadrant Capital Group LLC now owns 4,814 shares of the financial services provider’s stock worth $68,000 after buying an additional 1,335 shares during the period. Claro Advisors LLC bought a new stake in shares of Park Hotels & Resorts in the 3rd quarter valued at $69,000. Finally, Covestor Ltd lifted its position in shares of Park Hotels & Resorts by 64.8% during the 3rd quarter. Covestor Ltd now owns 6,894 shares of the financial services provider’s stock valued at $97,000 after acquiring an additional 2,711 shares during the period. 92.69% of the stock is owned by institutional investors.

About Park Hotels & Resorts

Park Hotels & Resorts, Inc operates as a real estate investment trust, which owns and operates hotels and resorts. It operates through the Consolidated Hotels and Unconsolidated Hotels segments. Its portfolio of hotels and resorts include the Waldorf Astoria Hotels and Resorts, Conrad Hotels & Resorts, Hilton Hotels & Resorts, DoubleTree by Hilton, Embassy Suites by Hilton, Hilton Garden Inn, Hampton by Hilton, and Curio.