Park Hotels & Resorts (NYSE:PK) Receives “Equal Weight” Rating from Barclays

Barclays reaffirmed their equal weight rating on shares of Park Hotels & Resorts (NYSE:PK) in a research note released on Tuesday, Marketbeat Ratings reports. Barclays currently has a $9.00 target price on the financial services provider’s stock, down from their previous target price of $13.00.

A number of other research analysts also recently issued reports on PK. Cantor Fitzgerald raised their price target on Park Hotels & Resorts from $11.00 to $12.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 3rd. Zacks Research upgraded Park Hotels & Resorts from a “strong sell” rating to a “hold” rating in a research note on Thursday, February 19th. Truist Financial raised their price target on Park Hotels & Resorts from $11.00 to $12.00 and gave the stock a “hold” rating in a research note on Thursday, March 26th. JPMorgan Chase & Co. raised their price target on Park Hotels & Resorts from $10.00 to $11.00 and gave the stock an “underweight” rating in a research note on Tuesday, February 3rd. Finally, Wells Fargo & Company decreased their price objective on Park Hotels & Resorts from $11.00 to $10.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 24th. Two research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $11.33.

Park Hotels & Resorts Trading Down 1.2%

NYSE:PK opened at $10.26 on Tuesday. The stock’s 50 day moving average price is $10.93 and its 200 day moving average price is $10.89. The company has a market capitalization of $2.07 billion, a PE ratio of -7.18 and a beta of 1.39. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 1.25. Park Hotels & Resorts has a 52-week low of $8.27 and a 52-week high of $12.39.

Park Hotels & Resorts (NYSE:PK) last released 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). The firm had revenue of $629.00 million for the quarter, compared to analysts’ expectations of $621.79 million. Park Hotels & Resorts had a negative return on equity of 8.56% and a negative net margin of 11.14%.The company’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.39 EPS. Park Hotels & Resorts has set its FY 2026 guidance at 1.730-1.89 EPS. On average, research analysts anticipate that Park Hotels & Resorts will post 2.11 EPS for the current year.

Park Hotels & Resorts Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 9.7%. The ex-dividend date of this dividend is Tuesday, March 31st. Park Hotels & Resorts’s dividend payout ratio (DPR) is presently -69.93%.

Insiders Place Their Bets

In related news, Director Christie B. Kelly acquired 2,949 shares of the firm’s stock in a transaction on Wednesday, January 14th. The stock was bought at an average cost of $11.19 per share, with a total value of $32,999.31. Following the transaction, the director owned 150,501 shares of the company’s stock, valued at $1,684,106.19. The trade was a 2.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 2.50% of the company’s stock.

Institutional Trading of Park Hotels & Resorts

A number of hedge funds have recently added to or reduced their stakes in PK. Amundi lifted its position in Park Hotels & Resorts by 1.9% during the 1st quarter. Amundi now owns 115,143 shares of the financial services provider’s stock worth $1,119,000 after acquiring an additional 2,179 shares during the period. Millennium Management LLC lifted its holdings in shares of Park Hotels & Resorts by 849.3% in the 1st 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 acquired a new stake in shares of Park Hotels & Resorts in the 1st quarter valued at approximately $152,000. Empowered Funds LLC lifted its holdings in shares of Park Hotels & Resorts by 10.1% in the 1st quarter. Empowered Funds LLC now owns 22,380 shares of the financial services provider’s stock valued at $239,000 after buying an additional 2,058 shares during the period. Finally, Focus Partners Wealth lifted its holdings in shares of Park Hotels & Resorts by 30.6% in the 1st quarter. Focus Partners Wealth now owns 18,646 shares of the financial services provider’s stock valued at $199,000 after buying an additional 4,374 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.