Park Hotels & Resorts (NYSE:PK) Sets New 1-Year High on Analyst Upgrade

Park Hotels & Resorts Inc. (NYSE:PK)’s share price hit a new 52-week high on Wednesday after Truist Financial raised their price target on the stock from $12.00 to $13.00. Truist Financial currently has a hold rating on the stock. Park Hotels & Resorts traded as high as $12.43 and last traded at $12.1470, with a volume of 467048 shares traded. The stock had previously closed at $12.00.

A number of other equities research analysts have also recently commented on the company. Cantor Fitzgerald restated a “neutral” rating and set a $12.00 target price on shares of Park Hotels & Resorts in a research report on Wednesday, May 13th. Morgan Stanley upped their price target on Park Hotels & Resorts from $10.00 to $10.50 and gave the stock an “equal weight” rating in a report on Tuesday, May 12th. Wells Fargo & Company dropped their price objective on Park Hotels & Resorts from $11.00 to $10.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 24th. Weiss Ratings raised Park Hotels & Resorts from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, May 20th. Finally, JPMorgan Chase & Co. boosted their price objective on Park Hotels & Resorts from $10.00 to $11.00 and gave the company an “underweight” rating in a research report on Tuesday, February 3rd. One research analyst has rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average target price of $11.65.

Institutional Investors Weigh In On Park Hotels & Resorts

Several large investors have recently bought and sold shares of PK. Principal Securities Inc. lifted its position in shares of Park Hotels & Resorts by 9.5% in the fourth quarter. Principal Securities Inc. now owns 10,684 shares of the financial services provider’s stock valued at $112,000 after acquiring an additional 927 shares in the last quarter. California State Teachers Retirement System raised its stake in Park Hotels & Resorts by 0.5% in the 2nd quarter. California State Teachers Retirement System now owns 192,452 shares of the financial services provider’s stock valued at $1,969,000 after purchasing an additional 968 shares during the last quarter. Advisors Asset Management Inc. lifted its holdings in Park Hotels & Resorts by 0.8% in the 3rd quarter. Advisors Asset Management Inc. now owns 125,051 shares of the financial services provider’s stock valued at $1,386,000 after purchasing an additional 1,038 shares in the last quarter. Fifth Third Bancorp boosted its stake in Park Hotels & Resorts by 68.8% during the 1st quarter. Fifth Third Bancorp now owns 2,604 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 1,061 shares during the last quarter. Finally, Caitlin John LLC grew its holdings in shares of Park Hotels & Resorts by 4.6% during the fourth quarter. Caitlin John LLC now owns 24,774 shares of the financial services provider’s stock worth $259,000 after buying an additional 1,100 shares in the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Park Hotels & Resorts Price Performance

The stock’s 50-day moving average price is $10.97 and its 200 day moving average price is $10.95. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.27. The firm has a market capitalization of $2.46 billion, a price-to-earnings ratio of -11.20, a PEG ratio of 1.57 and a beta of 1.37.

Park Hotels & Resorts (NYSE:PK) last announced its quarterly earnings data on Thursday, April 30th. The financial services provider reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.33). Park Hotels & Resorts had a negative net margin of 8.49% and a negative return on equity of 6.71%. The business had revenue of $622.00 million for the quarter, compared to analysts’ expectations of $609.78 million. During the same period in the prior year, the company posted $0.46 EPS. The firm’s revenue was down 1.3% on a year-over-year basis. Park Hotels & Resorts has set its FY 2026 guidance at 1.740-1.900 EPS. Equities research analysts expect that Park Hotels & Resorts Inc. will post 1.74 earnings per share for the current fiscal year.

Park Hotels & Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, June 30th. This represents a $1.00 dividend on an annualized basis and a yield of 8.2%. Park Hotels & Resorts’s dividend payout ratio (DPR) is presently -91.74%.

Park Hotels & Resorts Company Profile

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.