Brokerages Set Park Hotels & Resorts Inc. (NYSE:PK) PT at $11.55

Shares of Park Hotels & Resorts Inc. (NYSE:PK) have received an average rating of “Reduce” from the twelve ratings firms that are currently covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and one has given a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $11.65.

PK has been the subject of a number of recent analyst reports. Wells Fargo & Company lowered their price target on Park Hotels & Resorts from $11.00 to $10.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 24th. Weiss Ratings raised Park Hotels & Resorts from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, May 20th. Barclays reaffirmed an “equal weight” rating and issued a $9.00 price target (down from $13.00) on shares of Park Hotels & Resorts in a research note on Tuesday, April 7th. Wall Street Zen raised Park Hotels & Resorts from a “sell” rating to a “hold” rating in a research note on Sunday, March 1st. Finally, JPMorgan Chase & Co. upped their price target on Park Hotels & Resorts from $10.00 to $11.00 and gave the company an “underweight” rating in a research note on Tuesday, February 3rd.

Hedge Funds Weigh In On Park Hotels & Resorts

Several institutional investors and hedge funds have recently modified their holdings of PK. Danske Bank A S bought a new stake in Park Hotels & Resorts during the 3rd quarter worth approximately $25,000. Fifth Third Bancorp increased 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 in the last quarter. Advisory Services Network LLC bought a new stake in Park Hotels & Resorts during the 3rd quarter worth approximately $34,000. Clearstead Advisors LLC increased its stake in Park Hotels & Resorts by 326.4% during the 3rd quarter. Clearstead Advisors LLC now owns 3,198 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 2,448 shares in the last quarter. Finally, Harbor Capital Advisors Inc. increased its stake in Park Hotels & Resorts by 293.1% during the 4th quarter. Harbor Capital Advisors Inc. now owns 5,181 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 3,863 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Park Hotels & Resorts Stock Performance

Shares of NYSE:PK opened at $12.13 on Friday. The stock has a market capitalization of $2.44 billion, a P/E ratio of -11.12, a P/E/G ratio of 1.66 and a beta of 1.37. Park Hotels & Resorts has a 1-year low of $9.84 and a 1-year high of $12.43. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.27. The business has a 50-day moving average price of $11.07 and a two-hundred day moving average price of $10.98.

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

Park Hotels & Resorts Dividend Announcement

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

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.