Park Hotels & Resorts Inc. (NYSE:PK) Given Consensus Rating of “Reduce” by Brokerages

Shares of Park Hotels & Resorts Inc. (NYSE:PK) have earned an average rating of “Reduce” from the thirteen brokerages that are currently covering the company, Marketbeat.com reports. Four equities research analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $11.2727.

A number of brokerages have recently weighed in on PK. Morgan Stanley set a $10.00 target price on shares of Park Hotels & Resorts in a research note on Friday. Weiss Ratings cut Park Hotels & Resorts from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, January 12th. Cantor Fitzgerald assumed coverage on Park Hotels & Resorts in a report on Wednesday, October 1st. They issued a “neutral” rating and a $12.00 price objective for the company. UBS Group boosted their target price on shares of Park Hotels & Resorts from $10.00 to $11.00 and gave the company a “neutral” rating in a report on Monday, October 6th. Finally, Zacks Research lowered shares of Park Hotels & Resorts from a “hold” rating to a “strong sell” rating in a research note on Wednesday.

Insider Buying and Selling

In other Park Hotels & Resorts news, Director Christie B. Kelly purchased 2,949 shares of the stock in a transaction that occurred on Wednesday, January 14th. The shares were bought at an average cost of $11.19 per share, with a total value of $32,999.31. Following the acquisition, the director owned 150,501 shares in the company, valued at approximately $1,684,106.19. This trade represents a 2.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On Park Hotels & Resorts

Institutional investors have recently added to or reduced their stakes in the business. Danske Bank A S purchased a new stake in shares of Park Hotels & Resorts in the 3rd quarter valued at approximately $25,000. Parvin Asset Management LLC purchased a new stake in Park Hotels & Resorts in the second quarter valued at $26,000. Bessemer Group Inc. lifted its stake in shares of Park Hotels & Resorts by 359.3% in the 2nd quarter. Bessemer Group Inc. now owns 3,082 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 2,411 shares during the last quarter. Advisory Services Network LLC purchased a new position in shares of Park Hotels & Resorts during the 3rd quarter worth $34,000. Finally, IFP Advisors Inc increased its position in shares of Park Hotels & Resorts by 469.0% during the 2nd quarter. IFP Advisors Inc now owns 3,465 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 2,856 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Park Hotels & Resorts Price Performance

Park Hotels & Resorts stock opened at $11.43 on Friday. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.04 and a quick ratio of 1.04. Park Hotels & Resorts has a one year low of $8.27 and a one year high of $13.90. The firm has a market capitalization of $2.28 billion, a P/E ratio of -163.29 and a beta of 1.44. The business has a fifty day moving average price of $10.75 and a 200-day moving average price of $10.99.

Park Hotels & Resorts (NYSE:PK) last announced its earnings results on Thursday, October 30th. The financial services provider reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.08). The business had revenue of $610.00 million during the quarter, compared to the consensus estimate of $617.05 million. Park Hotels & Resorts had a negative return on equity of 1.25% and a negative net margin of 0.47%.Park Hotels & Resorts’s revenue was down 6.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.49 earnings per share. Park Hotels & Resorts has set its FY 2025 guidance at 1.850-1.970 EPS. As a group, equities research analysts forecast that Park Hotels & Resorts will post 2.11 EPS for the current year.

Park Hotels & Resorts Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were issued a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $1.00 annualized dividend and a dividend yield of 8.7%. Park Hotels & Resorts’s payout ratio is presently -1,428.57%.

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.