Park Hotels & Resorts (NYSE:PK) Given New $12.00 Price Target at Truist Financial

Park Hotels & Resorts (NYSE:PK) had its price target upped by Truist Financial from $11.00 to $12.00 in a report released on Thursday,Benzinga reports. They currently have a hold rating on the financial services provider’s stock.

PK has been the topic of several other research reports. Zacks Research raised shares of Park Hotels & Resorts from a “strong sell” rating to a “hold” rating in a research note on Thursday, February 19th. Cantor Fitzgerald increased their target price on shares of Park Hotels & Resorts from $11.00 to $12.00 and gave the company a “neutral” rating in a research report on Tuesday, March 3rd. JPMorgan Chase & Co. raised their price target on shares of Park Hotels & Resorts from $10.00 to $11.00 and gave the stock an “underweight” rating in a research note on Tuesday, February 3rd. LADENBURG THALM/SH SH initiated coverage on shares of Park Hotels & Resorts in a research report on Thursday. They set a “buy” rating and a $16.00 price target on the stock. Finally, Morgan Stanley set a $10.00 target price on shares of Park Hotels & Resorts in a research note on Friday, January 16th. Three investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $11.67.

Park Hotels & Resorts Price Performance

Shares of Park Hotels & Resorts stock opened at $10.70 on Thursday. The stock has a market capitalization of $2.15 billion, a P/E ratio of -7.48 and a beta of 1.40. The business has a 50 day simple moving average of $11.07 and a two-hundred day simple moving average of $10.99. Park Hotels & Resorts has a 12 month low of $8.27 and a 12 month high of $12.39. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.34 and a quick ratio of 1.34.

Park Hotels & Resorts (NYSE:PK) last issued its quarterly earnings results 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 return on equity of 8.56% and a negative net margin of 11.14%.The firm had revenue of $629.00 million during the quarter, compared to analyst estimates of $621.79 million. During the same period in the prior year, the firm earned $0.39 earnings per share. The business’s revenue was up .6% on a year-over-year basis. Park Hotels & Resorts has set its FY 2026 guidance at 1.730-1.89 EPS. As a group, analysts predict that Park Hotels & Resorts will post 2.11 EPS for the current fiscal year.

Park Hotels & Resorts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be given a $0.25 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $1.00 dividend on an annualized basis and a yield of 9.4%. Park Hotels & Resorts’s payout ratio is currently -69.93%.

Insider Activity at Park Hotels & Resorts

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

Institutional Trading of Park Hotels & Resorts

Hedge funds and other institutional investors have recently modified their holdings of the business. Hsbc Holdings PLC raised its holdings in Park Hotels & Resorts by 9.2% in the 4th quarter. Hsbc Holdings PLC now owns 373,679 shares of the financial services provider’s stock valued at $3,908,000 after buying an additional 31,628 shares during the period. Rockefeller Capital Management L.P. boosted its stake in Park Hotels & Resorts by 49.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 11,636 shares of the financial services provider’s stock worth $122,000 after buying an additional 3,826 shares during the period. Corient Private Wealth LLC increased its position in shares of Park Hotels & Resorts by 16.5% during the fourth quarter. Corient Private Wealth LLC now owns 152,355 shares of the financial services provider’s stock valued at $1,594,000 after acquiring an additional 21,523 shares during the last quarter. Kera Capital Partners Inc. increased its position in shares of Park Hotels & Resorts by 17.3% during the fourth quarter. Kera Capital Partners Inc. now owns 17,105 shares of the financial services provider’s stock valued at $187,000 after acquiring an additional 2,522 shares during the last quarter. Finally, Invesco Ltd. raised its stake in shares of Park Hotels & Resorts by 28.2% in the 4th quarter. Invesco Ltd. now owns 2,260,448 shares of the financial services provider’s stock valued at $23,644,000 after acquiring an additional 497,665 shares during the period. 92.69% of the stock is owned by institutional investors and hedge funds.

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.