StockNews.com upgraded shares of Park Hotels & Resorts (NYSE:PK – Free Report) from a sell rating to a hold rating in a research note published on Wednesday morning.
PK has been the topic of several other reports. Barclays lifted their price objective on shares of Park Hotels & Resorts from $19.00 to $21.00 and gave the stock an overweight rating in a research report on Friday, March 1st. UBS Group upped their price target on Park Hotels & Resorts from $14.00 to $18.00 and gave the company a neutral rating in a research report on Wednesday, March 6th. Jefferies Financial Group upgraded Park Hotels & Resorts from a hold rating to a buy rating and raised their price objective for the stock from $14.00 to $21.00 in a research report on Tuesday, January 2nd. Citigroup raised Park Hotels & Resorts from a neutral rating to a buy rating and lifted their target price for the company from $14.00 to $20.00 in a research note on Friday, March 22nd. Finally, Wells Fargo & Company increased their price target on shares of Park Hotels & Resorts from $17.00 to $18.00 and gave the stock an equal weight rating in a research report on Thursday, March 21st. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Park Hotels & Resorts currently has an average rating of Hold and a consensus price target of $17.27.
Check Out Our Latest Research Report on Park Hotels & Resorts
Park Hotels & Resorts Stock Performance
Park Hotels & Resorts (NYSE:PK – Get Free Report) last posted its quarterly earnings data on Tuesday, February 27th. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.39. Park Hotels & Resorts had a return on equity of 3.08% and a net margin of 3.42%. The firm had revenue of $657.00 million for the quarter, compared to the consensus estimate of $665.16 million. As a group, sell-side analysts forecast that Park Hotels & Resorts will post 2.06 earnings per share for the current fiscal year.
Park Hotels & Resorts Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 6.22%. The ex-dividend date of this dividend is Friday, June 28th. Park Hotels & Resorts’s dividend payout ratio (DPR) is presently 227.28%.
Institutional Investors Weigh In On Park Hotels & Resorts
Several institutional investors and hedge funds have recently modified their holdings of PK. Fidelis Capital Partners LLC bought a new stake in Park Hotels & Resorts during the first quarter worth approximately $26,000. Raleigh Capital Management Inc. bought a new stake in shares of Park Hotels & Resorts during the 4th quarter worth $35,000. YHB Investment Advisors Inc. bought a new stake in shares of Park Hotels & Resorts during the 1st quarter worth $40,000. FNY Investment Advisers LLC acquired a new position in Park Hotels & Resorts in the 4th quarter valued at $42,000. Finally, Spire Wealth Management raised its holdings in Park Hotels & Resorts by 20.1% in the 3rd quarter. Spire Wealth Management now owns 5,145 shares of the financial services provider’s stock worth $63,000 after acquiring an additional 860 shares during the period. Institutional investors and hedge funds 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.
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