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

Park Hotels & Resorts Inc. (NYSE:PK) has been assigned an average rating of “Reduce” from the thirteen brokerages that are presently covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $11.4545.

PK has been the topic of a number of recent research reports. Wells Fargo & Company reduced their price objective on shares of Park Hotels & Resorts from $11.00 to $10.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 24th. Barclays reissued an “equal weight” rating and set a $9.00 price target (down from $13.00) on shares of Park Hotels & Resorts in a research report on Tuesday, April 7th. Morgan Stanley set a $10.00 price target on shares of Park Hotels & Resorts in a research report on Friday, January 16th. Cantor Fitzgerald lifted their price target on shares of Park Hotels & Resorts from $11.00 to $12.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 3rd. Finally, Truist Financial lifted their price target on shares of Park Hotels & Resorts from $11.00 to $12.00 and gave the stock a “hold” rating in a research report on Thursday, March 26th.

Hedge Funds Weigh In On Park Hotels & Resorts

Hedge funds and other institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its position in shares of Park Hotels & Resorts by 21.2% during the third quarter. JPMorgan Chase & Co. now owns 3,634,643 shares of the financial services provider’s stock worth $40,272,000 after purchasing an additional 636,049 shares in the last quarter. SAM Advisors LLC bought a new position in shares of Park Hotels & Resorts during the third quarter worth $2,212,000. Citigroup Inc. boosted its position in shares of Park Hotels & Resorts by 13.9% during the third quarter. Citigroup Inc. now owns 1,636,353 shares of the financial services provider’s stock worth $18,131,000 after purchasing an additional 199,405 shares in the last quarter. Private Management Group Inc. boosted its position in shares of Park Hotels & Resorts by 6.2% during the third quarter. Private Management Group Inc. now owns 3,185,571 shares of the financial services provider’s stock worth $35,296,000 after purchasing an additional 186,713 shares in the last quarter. Finally, Matthew 25 Management Corp boosted its position in shares of Park Hotels & Resorts by 368.0% during the third quarter. Matthew 25 Management Corp now owns 475,000 shares of the financial services provider’s stock worth $5,263,000 after purchasing an additional 373,500 shares in the last quarter. 92.69% of the stock is owned by institutional investors.

Park Hotels & Resorts Price Performance

Shares of PK stock opened at $11.23 on Tuesday. Park Hotels & Resorts has a 52-week low of $9.57 and a 52-week high of $12.39. The stock has a market cap of $2.26 billion, a PE ratio of -7.85 and a beta of 1.39. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.34 and a current ratio of 1.34. The firm’s 50 day moving average price is $10.92 and its two-hundred day moving average price is $10.89.

Park Hotels & Resorts (NYSE:PK) last announced its quarterly earnings data on Thursday, February 19th. The financial services provider reported ($1.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $629.00 million during the quarter, compared to the consensus estimate of $621.79 million. During the same period in the previous year, the business posted $0.39 earnings per share. Park Hotels & Resorts’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, analysts forecast that Park Hotels & Resorts will post 1.76 EPS for the current year.

Park Hotels & Resorts Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were given 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 of this dividend was Tuesday, March 31st. Park Hotels & Resorts’s dividend payout ratio (DPR) is currently -69.93%.

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.