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

Park Hotels & Resorts Inc. (NYSE:PK) hit 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 equities analysts have issued reports on PK shares. Wall Street Zen raised Park Hotels & Resorts from a “sell” rating to a “hold” rating in a research note on Sunday, March 1st. LADENBURG THALM/SH SH increased their price target on Park Hotels & Resorts from $16.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday. Zacks Research raised Park Hotels & Resorts from a “strong sell” rating to a “hold” rating in a research note on Thursday, February 19th. Truist Financial increased their price target on Park Hotels & Resorts from $12.00 to $13.00 and gave the company a “hold” rating in a research note on Tuesday, May 26th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $12.00 price target on shares of Park Hotels & Resorts in a research note on Wednesday, May 13th. One equities research analyst has rated the stock with a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of $12.68.

Park Hotels & Resorts Price Performance

The business has a 50-day moving average price of $12.00 and a 200 day moving average price of $11.31. The company has a market cap of $2.91 billion, a price-to-earnings ratio of -13.26, a P/E/G ratio of 1.97 and a beta of 1.37. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.27.

Park Hotels & Resorts (NYSE:PK) last announced its quarterly earnings data 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 net margin of 8.49% and a negative return on equity of 6.71%. The company had revenue of $622.00 million for the quarter, compared to analyst estimates of $609.78 million. During the same quarter last year, the company posted $0.46 EPS. 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. As a group, research analysts expect that Park Hotels & Resorts Inc. will post 1.76 earnings per share for the current fiscal year.

Park Hotels & Resorts Dividend Announcement

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

Institutional Trading of Park Hotels & Resorts

Hedge funds have recently modified their holdings of the business. Danske Bank A S purchased a new stake in shares of Park Hotels & Resorts in the third quarter valued at $25,000. Fifth Third Bancorp lifted its holdings in shares of Park Hotels & Resorts by 68.8% in the first quarter. Fifth Third Bancorp now owns 2,604 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 1,061 shares in the last quarter. Advisory Services Network LLC purchased a new stake in shares of Park Hotels & Resorts in the third quarter valued at $34,000. Clearstead Advisors LLC lifted its holdings in shares of Park Hotels & Resorts by 326.4% in the third quarter. Clearstead Advisors LLC now owns 3,198 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 2,448 shares in the last quarter. Finally, Harbor Capital Advisors Inc. lifted its holdings in shares of Park Hotels & Resorts by 293.1% in the fourth quarter. Harbor Capital Advisors Inc. now owns 5,181 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 3,863 shares in the last quarter. Hedge funds and other institutional investors 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.