Park Hotels & Resorts (NYSE:PK) Upgraded to Hold by StockNews.com

StockNews.com upgraded shares of Park Hotels & Resorts (NYSE:PK) from a sell rating to a hold rating in a report published on Wednesday.

Several other research firms also recently commented on PK. JPMorgan Chase & Co. raised shares of Park Hotels & Resorts from an underweight rating to a neutral rating and raised their price objective for the stock from $11.00 to $16.00 in a report on Thursday, December 14th. Jefferies Financial Group raised shares of Park Hotels & Resorts from a hold rating to a buy rating and raised their price target for the company from $14.00 to $21.00 in a report on Tuesday, January 2nd. UBS Group raised their price target on shares of Park Hotels & Resorts from $14.00 to $18.00 and gave the company a neutral rating in a report on Wednesday, March 6th. Wells Fargo & Company raised their price target on shares of Park Hotels & Resorts from $17.00 to $18.00 and gave the company an equal weight rating in a report on Thursday, March 21st. Finally, Citigroup raised shares of Park Hotels & Resorts from a neutral rating to a buy rating and raised their price target for the company from $14.00 to $20.00 in a report on Friday, March 22nd. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of Hold and a consensus target price of $17.58.

Park Hotels & Resorts Stock Up 2.2 %

PK opened at $17.65 on Wednesday. The company has a 50 day moving average of $16.22 and a 200 day moving average of $14.72. The company has a market cap of $3.72 billion, a PE ratio of 38.37, a price-to-earnings-growth ratio of 0.68 and a beta of 2.02. Park Hotels & Resorts has a 12 month low of $11.05 and a 12 month high of $18.05. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 1.19.

Park Hotels & Resorts (NYSE:PK) last released its quarterly earnings data on Tuesday, February 27th. The financial services provider reported $0.88 EPS for the quarter, topping the consensus estimate of $0.49 by $0.39. The company had revenue of $657.00 million during the quarter, compared to the consensus estimate of $665.16 million. Park Hotels & Resorts had a net margin of 3.60% and a return on equity of 2.44%. On average, sell-side analysts expect that Park Hotels & Resorts will post 2 EPS for the current year.

Park Hotels & Resorts Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Friday, March 29th will be paid a dividend of $0.25 per share. The ex-dividend date is Wednesday, March 27th. This represents a $1.00 annualized dividend and a yield of 5.67%. This is a positive change from Park Hotels & Resorts’s previous quarterly dividend of $0.15. Park Hotels & Resorts’s payout ratio is presently 808.70%.

Institutional Investors Weigh In On Park Hotels & Resorts

Several hedge funds have recently bought and sold shares of the business. MetLife Investment Management LLC lifted its stake in shares of Park Hotels & Resorts by 33.4% in the first quarter. MetLife Investment Management LLC now owns 152,902 shares of the financial services provider’s stock worth $2,986,000 after buying an additional 38,302 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of Park Hotels & Resorts by 10.5% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 86,667 shares of the financial services provider’s stock worth $1,693,000 after buying an additional 8,263 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Park Hotels & Resorts by 0.6% in the first quarter. BlackRock Inc. now owns 29,740,571 shares of the financial services provider’s stock worth $580,834,000 after buying an additional 182,269 shares in the last quarter. APG Asset Management N.V. bought a new position in shares of Park Hotels & Resorts in the first quarter worth approximately $857,000. Finally, Great West Life Assurance Co. Can raised its holdings in shares of Park Hotels & Resorts by 5.2% during the first quarter. Great West Life Assurance Co. Can now owns 328,319 shares of the financial services provider’s stock valued at $6,628,000 after purchasing an additional 16,107 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

Park Hotels & Resorts Company Profile

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.