Park Hotels & Resorts Inc. (NYSE:PK) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Park Hotels & Resorts Inc. (NYSE:PK) have received an average rating of “Moderate Buy” from the eleven research firms that are currently covering the company, MarketBeat reports. Five analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $18.65.

Several analysts have recently commented on the stock. UBS Group increased their target price on shares of Park Hotels & Resorts from $14.00 to $15.00 and gave the company a “neutral” rating in a report on Monday, November 18th. Jefferies Financial Group reduced their price target on shares of Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating for the company in a research report on Thursday, January 2nd. StockNews.com raised Park Hotels & Resorts from a “sell” rating to a “hold” rating in a report on Tuesday, January 28th. Compass Point dropped their price target on Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Finally, Wells Fargo & Company lifted their price objective on Park Hotels & Resorts from $16.00 to $17.00 and gave the stock an “equal weight” rating in a report on Monday, December 9th.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Creative Planning boosted its position in shares of Park Hotels & Resorts by 39.0% during the 2nd quarter. Creative Planning now owns 26,190 shares of the financial services provider’s stock valued at $392,000 after acquiring an additional 7,348 shares during the last quarter. Truist Financial Corp lifted its position in Park Hotels & Resorts by 129.1% during the second quarter. Truist Financial Corp now owns 53,318 shares of the financial services provider’s stock valued at $799,000 after purchasing an additional 30,043 shares during the last quarter. Sanctuary Advisors LLC purchased a new position in Park Hotels & Resorts in the 2nd quarter worth approximately $204,000. SG Americas Securities LLC bought a new position in shares of Park Hotels & Resorts in the 3rd quarter worth $4,518,000. Finally, Blue Zone Wealth Advisors LLC raised its position in shares of Park Hotels & Resorts by 2.3% during the 3rd quarter. Blue Zone Wealth Advisors LLC now owns 258,600 shares of the financial services provider’s stock valued at $3,646,000 after buying an additional 5,863 shares in the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Park Hotels & Resorts Trading Up 0.1 %

Shares of Park Hotels & Resorts stock opened at $13.50 on Friday. The company has a market capitalization of $2.79 billion, a P/E ratio of 8.60, a price-to-earnings-growth ratio of 5.53 and a beta of 2.02. The stock has a fifty day simple moving average of $14.54 and a 200 day simple moving average of $14.49. Park Hotels & Resorts has a 12-month low of $13.22 and a 12-month high of $18.05. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 1.24.

Park Hotels & Resorts Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a $0.65 dividend. This is a positive change from Park Hotels & Resorts’s previous quarterly dividend of $0.25. This represents a $2.60 dividend on an annualized basis and a dividend yield of 19.27%. The ex-dividend date of this dividend was Tuesday, December 31st. Park Hotels & Resorts’s dividend payout ratio (DPR) is 63.69%.

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.