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 released on Wednesday morning.

Several other equities analysts have also weighed in on PK. Jefferies Financial Group upgraded shares of Park Hotels & Resorts from a hold rating to a buy rating and upped their price target for the company from $14.00 to $21.00 in a research note on Tuesday, January 2nd. Barclays upped their price target on shares of Park Hotels & Resorts from $19.00 to $21.00 and gave the company an overweight rating in a research note on Friday, March 1st. Truist Financial upped their price target on shares of Park Hotels & Resorts from $20.00 to $21.00 and gave the company a buy rating in a research note on Thursday, March 14th. Citigroup upgraded shares of Park Hotels & Resorts from a neutral rating to a buy rating and upped their price target for the company from $14.00 to $20.00 in a research note on Friday, March 22nd. Finally, UBS Group upped their price target 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. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Park Hotels & Resorts currently has an average rating of Hold and an average target price of $17.58.

Park Hotels & Resorts Stock Performance

Shares of PK stock opened at $15.98 on Wednesday. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 1.19. The company’s fifty day simple moving average is $16.97 and its 200-day simple moving average is $15.52. Park Hotels & Resorts has a 12 month low of $11.05 and a 12 month high of $18.05. The firm has a market cap of $3.36 billion, a PE ratio of 36.32, a P/E/G ratio of 0.83 and a beta of 2.02.

Park Hotels & Resorts (NYSE:PK) last posted its quarterly earnings results 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 net margin of 3.42% and a return on equity of 3.05%. The firm had revenue of $657.00 million for the quarter, compared to analyst estimates of $665.16 million. Equities research analysts expect that Park Hotels & Resorts will post 2.06 EPS for the current fiscal year.

Park Hotels & Resorts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.00 dividend on an annualized basis and a yield of 6.26%. Park Hotels & Resorts’s dividend payout ratio (DPR) is presently 227.28%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Retirement Systems of Alabama raised its holdings in Park Hotels & Resorts by 0.3% during the 1st quarter. Retirement Systems of Alabama now owns 263,688 shares of the financial services provider’s stock worth $4,612,000 after purchasing an additional 693 shares during the last quarter. Cascade Investment Advisors Inc. grew its position in shares of Park Hotels & Resorts by 1.1% during the 4th quarter. Cascade Investment Advisors Inc. now owns 66,222 shares of the financial services provider’s stock worth $1,013,000 after buying an additional 725 shares during the period. Signaturefd LLC grew its position in shares of Park Hotels & Resorts by 12.7% during the 4th quarter. Signaturefd LLC now owns 6,437 shares of the financial services provider’s stock worth $98,000 after buying an additional 727 shares during the period. Truist Financial Corp grew its position in shares of Park Hotels & Resorts by 3.8% during the 4th quarter. Truist Financial Corp now owns 22,335 shares of the financial services provider’s stock worth $342,000 after buying an additional 816 shares during the period. Finally, Spire Wealth Management grew its position in shares of Park Hotels & Resorts by 20.1% during the 3rd quarter. Spire Wealth Management now owns 5,145 shares of the financial services provider’s stock worth $63,000 after buying an additional 860 shares during the period. 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.