Park Hotels & Resorts (NYSE:PK) Given New $10.00 Price Target at Wells Fargo & Company

Park Hotels & Resorts (NYSE:PK) had its target price decreased by Wells Fargo & Company from $11.00 to $10.00 in a research note issued to investors on Tuesday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the financial services provider’s stock.

Several other equities analysts also recently weighed in on PK. Weiss Ratings downgraded Park Hotels & Resorts from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, February 23rd. Wall Street Zen upgraded Park Hotels & Resorts from a “sell” rating to a “hold” rating in a research report on Sunday, March 1st. Zacks Research raised Park Hotels & Resorts from a “strong sell” rating to a “hold” rating in a research note on Thursday, February 19th. Truist Financial dropped their price objective on Park Hotels & Resorts from $12.00 to $11.00 and set a “hold” rating for the company in a research report on Tuesday, February 3rd. Finally, Barclays assumed coverage on shares of Park Hotels & Resorts in a research note on Tuesday, January 6th. They issued an “overweight” rating and a $13.00 target price for the company. Two investment 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 MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $11.18.

Park Hotels & Resorts Stock Down 0.2%

Shares of NYSE PK opened at $10.41 on Tuesday. Park Hotels & Resorts has a 12-month low of $8.27 and a 12-month high of $12.39. The company has a market capitalization of $2.10 billion, a PE ratio of -7.28 and a beta of 1.40. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.34 and a quick ratio of 1.34. The firm’s 50-day moving average is $11.10 and its two-hundred day moving average is $10.99.

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

Park Hotels & Resorts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders 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 9.6%. The ex-dividend date of this dividend is Tuesday, March 31st. Park Hotels & Resorts’s dividend payout ratio is currently -69.93%.

Insider Activity

In other Park Hotels & Resorts news, Director Christie B. Kelly purchased 2,949 shares of the firm’s stock in a transaction on Wednesday, January 14th. The shares were purchased at an average cost of $11.19 per share, with a total value of $32,999.31. Following the purchase, the director owned 150,501 shares in the company, valued at approximately $1,684,106.19. This represents a 2.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 2.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of PK. Donald Smith & CO. Inc. increased its position in Park Hotels & Resorts by 14.2% during the fourth quarter. Donald Smith & CO. Inc. now owns 14,617,921 shares of the financial services provider’s stock worth $152,903,000 after purchasing an additional 1,813,338 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of Park Hotels & Resorts by 1.6% in 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 purchasing an additional 203,922 shares during the last quarter. AQR Capital Management LLC boosted its holdings 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 valued at $79,230,000 after purchasing an additional 3,361,382 shares during the last quarter. Sculptor Capital LP grew its stake in shares of Park Hotels & Resorts by 154.1% during the 2nd quarter. Sculptor Capital LP now owns 6,534,153 shares of the financial services provider’s stock valued at $66,844,000 after buying an additional 3,962,304 shares during the period. Finally, Allianz Asset Management GmbH increased its holdings in shares of Park Hotels & Resorts by 29.9% during the 3rd quarter. Allianz Asset Management GmbH now owns 4,447,474 shares of the financial services provider’s stock worth $49,278,000 after buying an additional 1,023,400 shares during the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

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.