Park Hotels & Resorts (NYSE:PK) Earns Overweight Rating from Analysts at Barclays

Barclays assumed coverage on shares of Park Hotels & Resorts (NYSE:PK) in a report published on Tuesday, MarketBeat reports. The firm issued an overweight rating and a $13.00 target price on the financial services provider’s stock.

Several other research analysts also recently weighed in on PK. Cantor Fitzgerald initiated coverage on shares of Park Hotels & Resorts in a research note on Wednesday, October 1st. They issued a “neutral” rating and a $12.00 target price for the company. Evercore ISI decreased their price objective on shares of Park Hotels & Resorts from $13.00 to $12.00 and set an “in-line” rating for the company in a research report on Thursday, November 20th. Citigroup lowered Park Hotels & Resorts from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $13.00 to $12.00 in a research report on Tuesday, September 9th. Wells Fargo & Company cut their price target on Park Hotels & Resorts from $12.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Monday, December 1st. Finally, Truist Financial raised their price objective on Park Hotels & Resorts from $11.00 to $12.00 and gave the company a “hold” rating in a research note on Thursday, December 4th. Two analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $11.27.

Park Hotels & Resorts Trading Up 4.5%

Shares of PK opened at $11.14 on Tuesday. Park Hotels & Resorts has a 12 month low of $8.27 and a 12 month high of $14.11. The stock’s 50-day moving average is $10.61 and its two-hundred day moving average is $10.95. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.04 and a quick ratio of 1.04. The stock has a market cap of $2.23 billion, a PE ratio of -159.14 and a beta of 1.44.

Park Hotels & Resorts (NYSE:PK) last released its quarterly earnings results on Thursday, October 30th. The financial services provider reported $0.35 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.08). The company had revenue of $610.00 million for the quarter, compared to analyst estimates of $617.05 million. Park Hotels & Resorts had a negative return on equity of 1.25% and a negative net margin of 0.47%.The business’s revenue was down 6.0% on a year-over-year basis. During the same period last year, the firm posted $0.49 earnings per share. Park Hotels & Resorts has set its FY 2025 guidance at 1.850-1.970 EPS. Equities analysts forecast that Park Hotels & Resorts will post 2.11 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 Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be paid a dividend of $0.25 per share. The ex-dividend date is Wednesday, December 31st. This represents a $1.00 annualized dividend and a yield of 9.0%. Park Hotels & Resorts’s dividend payout ratio is presently -1,428.57%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Bank of America Corp DE raised its position in shares of Park Hotels & Resorts by 1.6% during the 3rd quarter. Bank of America Corp DE now owns 13,074,474 shares of the financial services provider’s stock valued at $144,865,000 after acquiring an additional 203,922 shares in the last quarter. Donald Smith & CO. Inc. raised its holdings in shares of Park Hotels & Resorts by 4.0% during the second quarter. Donald Smith & CO. Inc. now owns 12,044,177 shares of the financial services provider’s stock worth $123,212,000 after purchasing an additional 466,857 shares during the period. AQR Capital Management LLC lifted its position in shares of Park Hotels & Resorts by 76.7% in the 2nd quarter. AQR Capital Management LLC now owns 7,744,912 shares of the financial services provider’s stock worth $79,230,000 after buying an additional 3,361,382 shares during the last quarter. Sculptor Capital LP lifted its position in shares of Park Hotels & Resorts by 154.1% in the 2nd quarter. Sculptor Capital LP now owns 6,534,153 shares of the financial services provider’s stock worth $66,844,000 after buying an additional 3,962,304 shares during the last quarter. Finally, Allianz Asset Management GmbH boosted its holdings in shares of Park Hotels & Resorts by 29.9% in the 3rd quarter. Allianz Asset Management GmbH now owns 4,447,474 shares of the financial services provider’s stock valued at $49,278,000 after buying an additional 1,023,400 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

About Park Hotels & Resorts

Park Hotels & Resorts Inc is a publicly traded real estate investment trust (REIT) specializing in luxury and upper-upscale hospitality properties. The company’s primary business activity involves owning and leasing premier hotels and resorts across major urban and resort destinations. Through long-term management and franchise agreements with leading hotel operators, Park generates revenue from room nights, food and beverage offerings, meetings and events, and ancillary services.

Since its spin-off from Hilton Worldwide in January 2017, Park Hotels & Resorts has assembled a diversified portfolio of more than 60 properties.