Brokerages Set Park Hotels & Resorts Inc. (NYSE:PK) PT at $17.27

Park Hotels & Resorts Inc. (NYSE:PK) has been given a consensus recommendation of “Hold” by the eleven brokerages that are presently covering the company, Marketbeat Ratings reports. Six analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $17.27.

PK has been the topic of a number of research reports. Barclays upped their price target on shares of Park Hotels & Resorts from $19.00 to $21.00 and gave the stock an “overweight” rating in a research note on Friday, March 1st. Wells Fargo & Company boosted their price target on Park Hotels & Resorts from $17.00 to $18.00 and gave the company an “equal weight” rating in a research note on Thursday, March 21st. Truist Financial raised their price objective on shares of Park Hotels & Resorts from $20.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, March 14th. Citigroup raised shares of Park Hotels & Resorts from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $14.00 to $20.00 in a research report on Friday, March 22nd. Finally, StockNews.com upgraded shares of Park Hotels & Resorts from a “sell” rating to a “hold” rating in a report on Wednesday, May 1st.

Hedge Funds Weigh In On Park Hotels & Resorts

Several hedge funds have recently added to or reduced their stakes in the company. AE Wealth Management LLC acquired a new stake in Park Hotels & Resorts during the 3rd quarter worth $154,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Park Hotels & Resorts by 2.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 86,399 shares of the financial services provider’s stock worth $1,064,000 after acquiring an additional 1,714 shares in the last quarter. Inspire Advisors LLC acquired a new stake in shares of Park Hotels & Resorts during the third quarter worth about $153,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of Park Hotels & Resorts by 5.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 85,069 shares of the financial services provider’s stock valued at $1,048,000 after purchasing an additional 4,720 shares in the last quarter. Finally, Cascade Investment Advisors Inc. grew its position in shares of Park Hotels & Resorts by 7.2% in the 3rd quarter. Cascade Investment Advisors Inc. now owns 65,497 shares of the financial services provider’s stock valued at $807,000 after purchasing an additional 4,375 shares during the period. Institutional investors own 92.69% of the company’s stock.

Park Hotels & Resorts Price Performance

NYSE PK opened at $16.09 on Friday. The company has a current ratio of 1.48, a quick ratio of 1.30 and a debt-to-equity ratio of 1.20. Park Hotels & Resorts has a 1 year low of $11.05 and a 1 year high of $18.05. The company has a market cap of $3.39 billion, a PE ratio of 36.57, a PEG ratio of 0.83 and a beta of 2.03. The stock’s 50-day moving average price is $16.97 and its two-hundred day moving average price is $15.60.

Park Hotels & Resorts (NYSE:PK) last released its quarterly earnings results on Tuesday, February 27th. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.39. Park Hotels & Resorts had a net margin of 3.42% and a return on equity of 3.08%. The business had revenue of $657.00 million for the quarter, compared to analyst estimates of $665.16 million. On average, analysts predict that Park Hotels & Resorts will post 2.06 EPS for the current year.

Park Hotels & Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 6.22%. The ex-dividend date is Friday, June 28th. Park Hotels & Resorts’s payout ratio is presently 227.28%.

About Park Hotels & Resorts

Park is one of the largest publicly traded lodging REITs with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value. Park's portfolio currently consists of 43 premium-branded hotels and resorts with over 26,000 rooms primarily located in prime city center and resort locations.