Park Hotels & Resorts (NYSE:PK) Hits New 52-Week High – Here’s Why

Park Hotels & Resorts Inc. (NYSE:PK) shares reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $15.02 and last traded at $14.8350, with a volume of 2842948 shares. The stock had previously closed at $14.88.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Cantor Fitzgerald reiterated a “neutral” rating and issued a $12.00 target price on shares of Park Hotels & Resorts in a report on Wednesday, May 13th. Truist Financial boosted their price target on shares of Park Hotels & Resorts from $12.00 to $13.00 and gave the stock a “hold” rating in a report on Tuesday, May 26th. Wells Fargo & Company upped their price objective on shares of Park Hotels & Resorts from $12.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Thursday, June 18th. LADENBURG THALM/SH SH increased their price objective on shares of Park Hotels & Resorts from $16.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, June 16th. Finally, BMO Capital Markets reissued a “market perform” rating and set a $14.00 target price on shares of Park Hotels & Resorts in a research report on Friday, June 12th. One investment analyst has rated the stock with a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Park Hotels & Resorts has a consensus rating of “Reduce” and a consensus price target of $13.00.

Park Hotels & Resorts Trading Down 0.3%

The stock has a market capitalization of $2.99 billion, a PE ratio of -13.61, a price-to-earnings-growth ratio of 2.00 and a beta of 1.33. The firm has a 50-day moving average price of $13.49 and a 200-day moving average price of $11.91. 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 issued its quarterly earnings results on Thursday, April 30th. The financial services provider reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.33). The company had revenue of $622.00 million during the quarter, compared to analysts’ expectations of $609.77 million. Park Hotels & Resorts had a negative return on equity of 6.71% and a negative net margin of 8.49%.Park Hotels & Resorts’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same period last year, the firm posted $0.46 earnings per share. Park Hotels & Resorts has set its FY 2026 guidance at 1.740-1.900 EPS. As a group, equities analysts forecast that Park Hotels & Resorts Inc. will post 1.76 EPS for the current fiscal year.

Park Hotels & Resorts Announces Dividend

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of PK. SG Americas Securities LLC lifted its position in shares of Park Hotels & Resorts by 223.9% during the fourth quarter. SG Americas Securities LLC now owns 762,261 shares of the financial services provider’s stock worth $7,973,000 after acquiring an additional 526,901 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in shares of Park Hotels & Resorts by 106.9% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 191,712 shares of the financial services provider’s stock worth $2,005,000 after acquiring an additional 99,051 shares during the period. Donald Smith & CO. Inc. grew its position in shares of Park Hotels & Resorts by 14.2% in 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 purchasing an additional 1,813,338 shares in the last quarter. Tudor Investment Corp ET AL purchased a new position in shares of Park Hotels & Resorts in the third quarter valued at $950,000. Finally, Sivia Capital Partners LLC bought a new stake in shares of Park Hotels & Resorts during the 2nd quarter valued at $230,000. 92.69% of the stock is owned by institutional investors.

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.