Park Hotels & Resorts (NYSE:PK) Sets New 1-Year Low – Here’s What Happened

Park Hotels & Resorts Inc. (NYSE:PK)’s stock price hit a new 52-week low on Tuesday . The stock traded as low as $12.75 and last traded at $12.75, with a volume of 112372 shares changing hands. The stock had previously closed at $12.94.

Analyst Ratings Changes

Several analysts have recently commented on the stock. StockNews.com downgraded shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research report on Wednesday, February 5th. Compass Point lowered their price objective on Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Jefferies Financial Group cut their target price on Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating for the company in a research report on Thursday, January 2nd. Bank of America lowered their price target on Park Hotels & Resorts from $17.00 to $16.50 and set a “neutral” rating on the stock in a report on Monday, October 21st. Finally, Wells Fargo & Company lifted their price objective on shares of Park Hotels & Resorts from $16.00 to $17.00 and gave the company an “equal weight” rating in a research report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Park Hotels & Resorts currently has an average rating of “Hold” and an average target price of $18.45.

Park Hotels & Resorts Trading Up 0.2 %

The stock has a market cap of $2.68 billion, a P/E ratio of 8.26 and a beta of 2.00. The company has a 50-day moving average price of $14.31 and a two-hundred day moving average price of $14.43. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 1.24.

Park Hotels & Resorts Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a $0.65 dividend. This is a positive change from Park Hotels & Resorts’s previous quarterly dividend of $0.25. This represents a $2.60 dividend on an annualized basis and a yield of 20.05%. The ex-dividend date was Tuesday, December 31st. Park Hotels & Resorts’s dividend payout ratio is 63.69%.

Institutional Trading of Park Hotels & Resorts

Institutional investors and hedge funds have recently made changes to their positions in the business. Harbor Capital Advisors Inc. purchased a new position in Park Hotels & Resorts in the 3rd quarter worth about $33,000. Venturi Wealth Management LLC boosted its position in Park Hotels & Resorts by 281.6% in the 3rd quarter. Venturi Wealth Management LLC now owns 3,850 shares of the financial services provider’s stock valued at $54,000 after buying an additional 2,841 shares during the period. Claro Advisors LLC bought a new position in Park Hotels & Resorts in the 3rd quarter worth about $69,000. Covestor Ltd raised its stake in shares of Park Hotels & Resorts by 64.8% during the third quarter. Covestor Ltd now owns 6,894 shares of the financial services provider’s stock valued at $97,000 after acquiring an additional 2,711 shares in the last quarter. Finally, KBC Group NV boosted its holdings in shares of Park Hotels & Resorts by 34.4% in the third quarter. KBC Group NV now owns 7,360 shares of the financial services provider’s stock valued at $104,000 after purchasing an additional 1,882 shares during the period. 92.69% of the stock is currently owned by institutional investors.

About Park Hotels & Resorts

Park Hotels & Resorts, Inc operates as a real estate investment trust, which owns and operates hotels and resorts. It operates through the Consolidated Hotels and Unconsolidated Hotels segments. Its portfolio of hotels and resorts include the Waldorf Astoria Hotels and Resorts, Conrad Hotels & Resorts, Hilton Hotels & Resorts, DoubleTree by Hilton, Embassy Suites by Hilton, Hilton Garden Inn, Hampton by Hilton, and Curio.