Park Hotels & Resorts (NYSE:PK) Price Target Raised to $15.00

Park Hotels & Resorts (NYSE:PK) had its price target lifted by Cantor Fitzgerald from $12.00 to $15.00 in a research report report published on Tuesday, Marketbeat Ratings reports. The firm currently has a neutral rating on the financial services provider’s stock.

Other research analysts have also issued research reports about the stock. Barclays raised their target price on shares of Park Hotels & Resorts from $9.00 to $12.00 and gave the company an “equal weight” rating in a research note on Monday, June 1st. JPMorgan Chase & Co. raised their price target on Park Hotels & Resorts from $13.00 to $14.00 and gave the stock an “underweight” rating in a research report on Monday. Morgan Stanley upped their price objective on Park Hotels & Resorts from $10.50 to $11.00 and gave the company an “equal weight” rating in a report on Friday, July 17th. LADENBURG THALM/SH SH lifted their price objective on shares of Park Hotels & Resorts from $16.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, June 16th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and issued a $14.00 target price on shares of Park Hotels & Resorts in a research note on Friday, June 12th. One equities research analyst has rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $13.55.

Park Hotels & Resorts Stock Performance

Shares of Park Hotels & Resorts stock opened at $15.01 on Tuesday. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.53 and a quick ratio of 1.25. The firm has a market cap of $3.02 billion, a P/E ratio of -18.09, a P/E/G ratio of 1.96 and a beta of 1.34. The firm has a 50 day simple moving average of $14.58 and a 200 day simple moving average of $12.38. Park Hotels & Resorts has a fifty-two week low of $9.84 and a fifty-two week high of $15.48.

Park Hotels & Resorts (NYSE:PK) last posted its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $0.24 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.24. The firm had revenue of $680.00 million for the quarter, compared to the consensus estimate of $659.68 million. Park Hotels & Resorts had a negative return on equity of 5.23% and a negative net margin of 6.41%.The business’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.64 EPS. Sell-side analysts predict that Park Hotels & Resorts will post 1.79 earnings per share for the current fiscal year.

Park Hotels & Resorts Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 6.7%. The ex-dividend date is Wednesday, September 30th. Park Hotels & Resorts’s payout ratio is -120.48%.

Institutional Trading of Park Hotels & Resorts

Hedge funds have recently bought and sold shares of the stock. Mitsubishi UFJ Trust & Banking Corp raised its position in Park Hotels & Resorts by 106.9% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 191,712 shares of the financial services provider’s stock valued at $2,005,000 after buying an additional 99,051 shares during the last quarter. Donald Smith & CO. Inc. lifted its stake in Park Hotels & Resorts by 14.2% in the 4th 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. Sivia Capital Partners LLC acquired a new position in Park Hotels & Resorts during the 2nd quarter worth approximately $230,000. Matthew 25 Management Corp boosted its position in Park Hotels & Resorts by 61.1% during the 4th quarter. Matthew 25 Management Corp now owns 765,000 shares of the financial services provider’s stock worth $8,002,000 after acquiring an additional 290,000 shares during the last quarter. Finally, Legal & General Group Plc grew its stake in shares of Park Hotels & Resorts by 15.9% during the 4th quarter. Legal & General Group Plc now owns 1,339,137 shares of the financial services provider’s stock worth $14,007,000 after acquiring an additional 183,882 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

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.