Park Hotels & Resorts (NYSE:PK) Price Target Cut to $16.50 by Analysts at Bank of America

Park Hotels & Resorts (NYSE:PK) had its price target lowered by Bank of America from $17.00 to $16.50 in a research report report published on Monday, Benzinga reports. The brokerage currently has a neutral rating on the financial services provider’s stock.

A number of other equities analysts have also issued reports on PK. UBS Group decreased their target price on shares of Park Hotels & Resorts from $18.00 to $14.00 and set a “neutral” rating for the company in a research report on Friday, August 16th. Wells Fargo & Company decreased their target price on shares of Park Hotels & Resorts from $17.00 to $14.50 and set an “equal weight” rating for the company in a research report on Friday, September 13th. Truist Financial decreased their target price on shares of 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. StockNews.com lowered shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research report on Monday, October 14th. Finally, Wolfe Research lowered shares of Park Hotels & Resorts from an “outperform” rating to a “peer perform” rating in a research report on Thursday, September 26th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Park Hotels & Resorts has a consensus rating of “Hold” and a consensus target price of $17.36.

Park Hotels & Resorts Stock Down 2.2 %

Shares of NYSE:PK opened at $13.67 on Monday. The stock has a market capitalization of $2.86 billion, a price-to-earnings ratio of 9.49, a price-to-earnings-growth ratio of 0.68 and a beta of 2.02. Park Hotels & Resorts has a 1-year low of $11.05 and a 1-year high of $18.05. The company’s fifty day moving average is $14.47 and its two-hundred day moving average is $15.07. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.58 and a current ratio of 1.58.

Park Hotels & Resorts (NYSE:PK) last released its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $0.30 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.30). The firm had revenue of $686.00 million for the quarter, compared to the consensus estimate of $694.94 million. Park Hotels & Resorts had a return on equity of 8.77% and a net margin of 11.50%. Equities analysts anticipate that Park Hotels & Resorts will post 2.09 EPS for the current year.

Park Hotels & Resorts Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 7.32%. The ex-dividend date was Monday, September 30th. Park Hotels & Resorts’s dividend payout ratio is presently 69.44%.

Institutional Trading of Park Hotels & Resorts

A number of hedge funds have recently bought and sold shares of PK. Fidelis Capital Partners LLC purchased a new stake in Park Hotels & Resorts during the first quarter valued at about $26,000. Quarry LP lifted its stake in Park Hotels & Resorts by 82.1% during the second quarter. Quarry LP now owns 4,118 shares of the financial services provider’s stock valued at $62,000 after buying an additional 1,857 shares in the last quarter. Claro Advisors LLC purchased a new stake in Park Hotels & Resorts during the third quarter valued at about $69,000. FinTrust Capital Advisors LLC lifted its position in shares of Park Hotels & Resorts by 260.5% in the first quarter. FinTrust Capital Advisors LLC now owns 5,076 shares of the financial services provider’s stock worth $89,000 after purchasing an additional 3,668 shares in the last quarter. Finally, EntryPoint Capital LLC lifted its position in shares of Park Hotels & Resorts by 53.5% in the first quarter. EntryPoint Capital LLC now owns 6,488 shares of the financial services provider’s stock worth $113,000 after purchasing an additional 2,260 shares in the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

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.