Park Hotels & Resorts (NYSE:PK) Reaches New 1-Year High – Still a Buy?

Shares of Park Hotels & Resorts Inc. (NYSE:PK) hit a new 52-week high on Friday . The company traded as high as $14.16 and last traded at $14.1450, with a volume of 1538452 shares trading hands. The stock had previously closed at $14.04.

Analyst Ratings Changes

PK has been the topic of a number of recent research reports. Barclays raised their price objective on Park Hotels & Resorts from $9.00 to $12.00 and gave the company an “equal weight” rating in a research report on Monday. Zacks Research raised Park Hotels & Resorts from a “strong sell” rating to a “hold” rating in a report on Thursday, February 19th. Weiss Ratings raised Park Hotels & Resorts from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, May 20th. LADENBURG THALM/SH SH initiated coverage on Park Hotels & Resorts in a report on Thursday, March 26th. They issued a “buy” rating and a $16.00 price target for the company. Finally, Morgan Stanley raised their price target on Park Hotels & Resorts from $10.00 to $10.50 and gave the stock an “equal weight” rating in a report on Tuesday, May 12th. One equities research analyst has rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Park Hotels & Resorts currently has a consensus rating of “Reduce” and an average price target of $12.15.

Park Hotels & Resorts Price Performance

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 stock has a market cap of $2.85 billion, a price-to-earnings ratio of -13.00, a P/E/G ratio of 1.84 and a beta of 1.37. The stock has a fifty day moving average of $11.32 and a 200 day moving average of $11.07.

Park Hotels & Resorts (NYSE:PK) last released its earnings results on Thursday, April 30th. The financial services provider reported $0.05 EPS for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $609.78 million. During the same period last year, the firm earned $0.46 EPS. The company’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. On average, analysts expect that Park Hotels & Resorts Inc. will post 1.74 EPS for the current fiscal year.

Park Hotels & Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 7.1%. Park Hotels & Resorts’s payout ratio is -91.74%.

Institutional Investors Weigh In On Park Hotels & Resorts

A number of institutional investors and hedge funds have recently modified their holdings of PK. Sculptor Capital LP lifted its holdings in shares of Park Hotels & Resorts by 154.1% during the second quarter. Sculptor Capital LP now owns 6,534,153 shares of the financial services provider’s stock worth $66,844,000 after purchasing an additional 3,962,304 shares during the period. AQR Capital Management LLC raised its position in Park Hotels & Resorts by 76.7% during the second quarter. AQR Capital Management LLC now owns 7,744,912 shares of the financial services provider’s stock valued at $79,230,000 after acquiring an additional 3,361,382 shares in the last quarter. Bank of America Corp DE raised its position in Park Hotels & Resorts by 34.6% during the second quarter. Bank of America Corp DE now owns 12,870,552 shares of the financial services provider’s stock valued at $131,666,000 after acquiring an additional 3,309,275 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Park Hotels & Resorts during the third quarter valued at approximately $20,905,000. Finally, Donald Smith & CO. Inc. raised its position in Park Hotels & Resorts by 14.2% during the fourth quarter. Donald Smith & CO. Inc. now owns 14,617,921 shares of the financial services provider’s stock valued at $152,903,000 after acquiring an additional 1,813,338 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Park Hotels & Resorts Company Profile

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.