Wells Fargo & Company Lowers Park Hotels & Resorts (NYSE:PK) Price Target to $14.00

Park Hotels & Resorts (NYSE:PK) had its target price trimmed by Wells Fargo & Company from $17.00 to $14.00 in a report issued on Tuesday morning,Benzinga reports. The firm currently has an equal weight rating on the financial services provider’s stock.

PK has been the subject of a number of other reports. Jefferies Financial Group dropped their price target on Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. UBS Group dropped their price objective on Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating for the company in a report on Monday, February 3rd. Bank of America reduced their target price 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. StockNews.com raised Park Hotels & Resorts from a “sell” rating to a “hold” rating in a research note on Thursday, February 13th. Finally, Compass Point cut their price target on shares of 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. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.15.

Park Hotels & Resorts Stock Up 2.3 %

Shares of NYSE PK opened at $13.18 on Tuesday. Park Hotels & Resorts has a 52-week low of $12.56 and a 52-week high of $18.05. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.51 and a current ratio of 1.51. The business has a fifty day moving average of $13.96 and a two-hundred day moving average of $14.34. The stock has a market cap of $2.72 billion, a PE ratio of 8.39 and a beta of 2.00.

Park Hotels & Resorts Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 19.73%. This is an increase from Park Hotels & Resorts’s previous quarterly dividend of $0.25. The ex-dividend date was Tuesday, December 31st. Park Hotels & Resorts’s dividend payout ratio is presently 63.69%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Norges Bank bought a new position in shares of Park Hotels & Resorts in the 4th quarter valued at $41,087,000. Deutsche Bank AG lifted its holdings in Park Hotels & Resorts by 809.3% during the 4th quarter. Deutsche Bank AG now owns 2,415,621 shares of the financial services provider’s stock worth $33,988,000 after buying an additional 2,149,972 shares during the period. Landmark Investment Partners L.P. bought a new stake in shares of Park Hotels & Resorts in the 4th quarter valued at about $21,342,000. Donald Smith & CO. Inc. increased its stake in shares of Park Hotels & Resorts by 22.5% in the third quarter. Donald Smith & CO. Inc. now owns 8,077,286 shares of the financial services provider’s stock valued at $113,890,000 after buying an additional 1,484,295 shares during the period. Finally, Invesco Ltd. raised its position in shares of Park Hotels & Resorts by 84.0% during the fourth quarter. Invesco Ltd. now owns 2,837,917 shares of the financial services provider’s stock worth $39,929,000 after acquiring an additional 1,295,548 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

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.