Park Hotels & Resorts Inc (NYSE:PK)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $24.18, but opened at $25.34. Park Hotels & Resorts shares last traded at $26.07, with a volume of 6,630,500 shares changing hands.
Several equities analysts have recently commented on PK shares. Capital One Financial started coverage on shares of Park Hotels & Resorts in a research report on Tuesday, June 25th. They issued an “overweight” rating and a $34.00 target price for the company. UBS Group set a $24.00 target price on shares of Park Hotels & Resorts and gave the company a “hold” rating in a research report on Friday, August 16th. Citigroup dropped their target price on shares of Park Hotels & Resorts from $31.00 to $25.00 and set a “neutral” rating for the company in a research report on Thursday, September 5th. TheStreet cut shares of Park Hotels & Resorts from a “b-” rating to a “c” rating in a research report on Wednesday, June 5th. Finally, Zacks Investment Research cut shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $30.82.
The stock’s 50-day moving average is $24.50 and its 200-day moving average is $28.48. The firm has a market capitalization of $5.10 billion, a price-to-earnings ratio of 8.81, a PEG ratio of 2.24 and a beta of 1.31. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 0.56.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 6.90%. The ex-dividend date is Friday, September 27th. Park Hotels & Resorts’s dividend payout ratio is 60.81%.
A number of hedge funds have recently added to or reduced their stakes in PK. Meridian Wealth Management LLC bought a new stake in Park Hotels & Resorts during the 1st quarter worth approximately $32,000. Advisory Services Network LLC grew its holdings in Park Hotels & Resorts by 68.5% during the 2nd quarter. Advisory Services Network LLC now owns 1,436 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 584 shares during the last quarter. Golden State Wealth Management LLC grew its holdings in Park Hotels & Resorts by 188.7% during the 2nd quarter. Golden State Wealth Management LLC now owns 1,836 shares of the financial services provider’s stock worth $50,000 after acquiring an additional 1,200 shares during the last quarter. Penserra Capital Management LLC bought a new stake in Park Hotels & Resorts during the 1st quarter worth approximately $56,000. Finally, NEXT Financial Group Inc grew its holdings in Park Hotels & Resorts by 4,000.0% during the 2nd quarter. NEXT Financial Group Inc now owns 2,050 shares of the financial services provider’s stock worth $56,000 after acquiring an additional 2,000 shares during the last quarter.
About Park Hotels & Resorts (NYSE:PK)
Park is the second largest publicly traded lodging REIT with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value. Park's portfolio consists of 52 premium-branded hotels and resorts with over 30,000 rooms, a substantial portion of which are located in prime United States markets with high barriers to entry.
Recommended Story: Trading Stocks – What are percentage gainers?
Receive News & Ratings for Park Hotels & Resorts Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Park Hotels & Resorts and related companies with MarketBeat.com's FREE daily email newsletter.