Park Hotels & Resorts (NYSE:PK) Price Target Raised to $12.00 at Cantor Fitzgerald

Park Hotels & Resorts (NYSE:PK) had its price objective lifted by Cantor Fitzgerald from $11.00 to $12.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

Several other research analysts also recently weighed in on the stock. Zacks Research upgraded shares of Park Hotels & Resorts from a “strong sell” rating to a “hold” rating in a report on Thursday, February 19th. Barclays started coverage on shares of Park Hotels & Resorts in a report on Tuesday, January 6th. They issued an “overweight” rating and a $13.00 target price on the stock. Morgan Stanley set a $10.00 price target on shares of Park Hotels & Resorts in a research report on Friday, January 16th. Evercore cut their price target on Park Hotels & Resorts from $13.00 to $12.00 and set an “in-line” rating for the company in a research note on Thursday, November 20th. Finally, Weiss Ratings downgraded Park Hotels & Resorts from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, February 23rd. Two research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $11.27.

Park Hotels & Resorts Stock Down 0.5%

Shares of NYSE:PK opened at $11.18 on Tuesday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.34 and a current ratio of 1.34. Park Hotels & Resorts has a 52-week low of $8.27 and a 52-week high of $12.43. The business’s 50 day simple moving average is $11.18 and its two-hundred day simple moving average is $11.10. The firm has a market cap of $2.23 billion, a P/E ratio of -7.82 and a beta of 1.40.

Park Hotels & Resorts (NYSE:PK) last released its quarterly earnings data on Thursday, February 19th. The financial services provider reported ($1.04) EPS for the quarter, missing the consensus estimate of $0.46 by ($1.50). Park Hotels & Resorts had a negative net margin of 11.14% and a negative return on equity of 8.56%. The firm had revenue of $629.00 million for the quarter, compared to the consensus estimate of $621.79 million. During the same quarter in the prior year, the firm earned $0.39 EPS. The company’s revenue was up .6% compared to the same quarter last year. Park Hotels & Resorts has set its FY 2026 guidance at 1.730-1.89 EPS. As a group, research analysts forecast that Park Hotels & Resorts will post 2.11 EPS for the current fiscal year.

Park Hotels & Resorts Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.9%. The ex-dividend date is Tuesday, March 31st. Park Hotels & Resorts’s payout ratio is presently -69.93%.

Insider Buying and Selling at Park Hotels & Resorts

In related news, Director Christie B. Kelly purchased 2,949 shares of Park Hotels & Resorts stock in a transaction that occurred on Wednesday, January 14th. The stock was bought at an average price of $11.19 per share, for a total transaction of $32,999.31. Following the completion of the transaction, the director owned 150,501 shares in the company, valued at $1,684,106.19. This represents a 2.00% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in PK. Amundi lifted its position in shares of Park Hotels & Resorts by 1.9% in the 1st quarter. Amundi now owns 115,143 shares of the financial services provider’s stock worth $1,119,000 after purchasing an additional 2,179 shares during the period. Millennium Management LLC increased its holdings in Park Hotels & Resorts by 849.3% during the first quarter. Millennium Management LLC now owns 523,851 shares of the financial services provider’s stock valued at $5,595,000 after buying an additional 468,668 shares during the period. United Services Automobile Association bought a new position in Park Hotels & Resorts in the first quarter worth approximately $152,000. Empowered Funds LLC lifted its holdings in Park Hotels & Resorts by 10.1% during the first quarter. Empowered Funds LLC now owns 22,380 shares of the financial services provider’s stock worth $239,000 after buying an additional 2,058 shares during the period. Finally, Focus Partners Wealth boosted its position in Park Hotels & Resorts by 30.6% during the 1st quarter. Focus Partners Wealth now owns 18,646 shares of the financial services provider’s stock valued at $199,000 after acquiring an additional 4,374 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Park Hotels & Resorts Company Profile

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.