Park Hotels & Resorts (NYSE:PK) PT Lowered to $14.50

Park Hotels & Resorts (NYSE:PK) had its price target trimmed by Wells Fargo & Company from $17.00 to $14.50 in a research report sent to investors on Friday morning, Benzinga reports. The brokerage currently has an equal weight rating on the financial services provider’s stock.

Other research analysts have also recently issued research reports about the stock. Barclays upped their target price on shares of Park Hotels & Resorts from $21.00 to $22.00 and gave the stock an overweight rating in a research report on Friday, May 24th. Wedbush reissued a neutral rating and issued a $17.00 price objective on shares of Park Hotels & Resorts in a report on Tuesday, May 28th. Evercore ISI cut their target price on Park Hotels & Resorts from $20.00 to $19.00 and set an outperform rating on the stock in a research note on Tuesday, August 13th. Truist Financial reduced their price target on Park Hotels & Resorts from $20.00 to $18.00 and set a buy rating for the company in a research report on Wednesday, September 4th. Finally, UBS Group lowered their price target on Park Hotels & Resorts from $18.00 to $14.00 and set a neutral rating on the stock in a report on Friday, August 16th. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $16.96.

Park Hotels & Resorts Trading Up 1.9 %

NYSE:PK opened at $14.04 on Friday. The firm has a market capitalization of $2.93 billion, a P/E ratio of 31.91, a P/E/G ratio of 0.66 and a beta of 2.02. The business has a 50 day simple moving average of $14.51 and a 200 day simple moving average of $15.63. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.58 and a quick ratio of 1.58. Park Hotels & Resorts has a 12-month low of $11.05 and a 12-month high of $18.05.

Park Hotels & Resorts (NYSE:PK) last posted its earnings results on Wednesday, July 31st. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.30). The company had revenue of $686.00 million during the quarter, compared to the consensus estimate of $694.94 million. Park Hotels & Resorts had a net margin of 11.50% and a return on equity of 8.77%. Equities research analysts predict that Park Hotels & Resorts will post 2.11 EPS for the current year.

Park Hotels & Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 7.12%. The ex-dividend date is Monday, September 30th. Park Hotels & Resorts’s payout ratio is currently 227.28%.

Institutional Investors Weigh In On Park Hotels & Resorts

Institutional investors and hedge funds have recently bought and sold shares of the business. Epoch Investment Partners Inc. grew its stake in shares of Park Hotels & Resorts by 135.7% in the 1st quarter. Epoch Investment Partners Inc. now owns 1,391,881 shares of the financial services provider’s stock worth $24,344,000 after purchasing an additional 801,372 shares during the last quarter. Acadian Asset Management LLC grew its position in Park Hotels & Resorts by 492.7% in the first quarter. Acadian Asset Management LLC now owns 54,345 shares of the financial services provider’s stock worth $950,000 after buying an additional 45,176 shares during the last quarter. Norges Bank bought a new position in shares of Park Hotels & Resorts in the fourth quarter valued at $31,745,000. Los Angeles Capital Management LLC increased its holdings in shares of Park Hotels & Resorts by 601.1% in the first quarter. Los Angeles Capital Management LLC now owns 2,111,004 shares of the financial services provider’s stock valued at $36,921,000 after buying an additional 1,809,886 shares in the last quarter. Finally, Diversified Trust Co acquired a new stake in shares of Park Hotels & Resorts during the 2nd quarter valued at $599,000. 92.69% of the stock is owned by institutional investors and hedge funds.

Park Hotels & Resorts Company Profile

Park is one of the largest publicly traded lodging REITs with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value. Park's portfolio currently consists of 43 premium-branded hotels and resorts with over 26,000 rooms primarily located in prime city center and resort locations.