Park Hotels & Resorts Inc. (NYSE:PK) Receives $17.27 Average PT from Brokerages

Park Hotels & Resorts Inc. (NYSE:PK) has been given an average recommendation of “Hold” by the eleven analysts that are presently covering the firm, Marketbeat reports. Six research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $17.27.

PK has been the topic of several research analyst reports. UBS Group upped their target price on shares of Park Hotels & Resorts from $14.00 to $18.00 and gave the company a “neutral” rating in a research note on Wednesday, March 6th. Citigroup upgraded shares of Park Hotels & Resorts from a “neutral” rating to a “buy” rating and increased their price objective for the company from $14.00 to $20.00 in a research report on Friday, March 22nd. StockNews.com raised shares of Park Hotels & Resorts from a “sell” rating to a “hold” rating in a research report on Wednesday, May 1st. Wells Fargo & Company raised their price target on Park Hotels & Resorts from $17.00 to $18.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 21st. Finally, Truist Financial upped their price objective on Park Hotels & Resorts from $20.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, March 14th.

Institutional Investors Weigh In On Park Hotels & Resorts

A number of institutional investors and hedge funds have recently bought and sold shares of PK. State Board of Administration of Florida Retirement System grew its position in shares of Park Hotels & Resorts by 0.8% during the first quarter. State Board of Administration of Florida Retirement System now owns 275,379 shares of the financial services provider’s stock worth $4,816,000 after purchasing an additional 2,185 shares in the last quarter. Entropy Technologies LP purchased a new stake in Park Hotels & Resorts during the 1st quarter valued at approximately $1,497,000. Russell Investments Group Ltd. raised its position in shares of Park Hotels & Resorts by 19.5% during the first quarter. Russell Investments Group Ltd. now owns 562,900 shares of the financial services provider’s stock valued at $9,846,000 after buying an additional 91,983 shares during the last quarter. ClariVest Asset Management LLC purchased a new position in shares of Park Hotels & Resorts in the first quarter worth $1,240,000. Finally, SG Americas Securities LLC boosted its position in shares of Park Hotels & Resorts by 15,714.0% during the first quarter. SG Americas Securities LLC now owns 1,301,019 shares of the financial services provider’s stock worth $22,755,000 after acquiring an additional 1,292,792 shares during the last quarter. 92.69% of the stock is owned by institutional investors.

Park Hotels & Resorts Stock Up 1.0 %

NYSE:PK opened at $15.96 on Friday. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.48 and a current ratio of 1.48. The firm has a market cap of $3.36 billion, a P/E ratio of 36.26, a P/E/G ratio of 0.83 and a beta of 2.03. Park Hotels & Resorts has a fifty-two week low of $11.05 and a fifty-two week high of $18.05. The firm has a 50-day simple moving average of $16.95 and a two-hundred day simple moving average of $15.67.

Park Hotels & Resorts (NYSE:PK) last posted its quarterly earnings results on Tuesday, February 27th. The financial services provider reported $0.88 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 firm had revenue of $657.00 million for the quarter, compared to analysts’ expectations of $665.16 million. Analysts predict that Park Hotels & Resorts will post 2.06 earnings per share for the current fiscal year.

Park Hotels & Resorts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.00 annualized dividend and a dividend yield of 6.27%. Park Hotels & Resorts’s payout ratio is 227.27%.

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.