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

Shares of Park Hotels & Resorts Inc. (NYSE:PK) hit a new 52-week high on Tuesday after JPMorgan Chase & Co. raised their price target on the stock from $11.00 to $13.00. JPMorgan Chase & Co. currently has an underweight rating on the stock. Park Hotels & Resorts traded as high as $15.02 and last traded at $14.8350, with a volume of 2842948 shares changing hands. The stock had previously closed at $14.88.

PK has been the topic of a number of other reports. Morgan Stanley lifted their target price on shares of Park Hotels & Resorts from $10.50 to $11.00 and gave the stock an “equal weight” rating in a research note on Friday, July 17th. Barclays raised their price target on shares of Park Hotels & Resorts from $9.00 to $12.00 and gave the stock an “equal weight” rating in a report on Monday, June 1st. LADENBURG THALM/SH SH lifted their price target on shares of Park Hotels & Resorts from $16.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, June 16th. BMO Capital Markets reiterated a “market perform” rating and issued a $14.00 price objective on shares of Park Hotels & Resorts in a report on Friday, June 12th. Finally, Wells Fargo & Company increased their price objective on Park Hotels & Resorts from $12.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Thursday, June 18th. One investment analyst has rated the stock with a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Park Hotels & Resorts presently has an average rating of “Reduce” and an average price target of $13.18.

Institutional Investors Weigh In On Park Hotels & Resorts

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Gradient Investments LLC lifted its stake in Park Hotels & Resorts by 11.3% during the 2nd quarter. Gradient Investments LLC now owns 246,702 shares of the financial services provider’s stock worth $3,516,000 after acquiring an additional 24,982 shares in the last quarter. Chapin Davis Inc. grew its position in Park Hotels & Resorts by 12.3% in the 2nd quarter. Chapin Davis Inc. now owns 13,200 shares of the financial services provider’s stock valued at $188,000 after acquiring an additional 1,450 shares in the last quarter. Post Resch Tallon Group Inc. increased its stake in Park Hotels & Resorts by 24.0% during the second quarter. Post Resch Tallon Group Inc. now owns 34,318 shares of the financial services provider’s stock worth $489,000 after purchasing an additional 6,648 shares during the period. GAMMA Investing LLC increased its stake in Park Hotels & Resorts by 17.2% during the second quarter. GAMMA Investing LLC now owns 14,045 shares of the financial services provider’s stock worth $200,000 after purchasing an additional 2,064 shares during the period. Finally, Versant Capital Management Inc lifted its position in shares of Park Hotels & Resorts by 10.5% during the second quarter. Versant Capital Management Inc now owns 10,838 shares of the financial services provider’s stock worth $154,000 after purchasing an additional 1,030 shares in the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

Park Hotels & Resorts Price Performance

The company’s 50-day moving average price is $13.66 and its 200-day moving average price is $11.97. 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 cap of $3.03 billion, a price-to-earnings ratio of -13.82, a PEG ratio of 2.01 and a beta of 1.33.

Park Hotels & Resorts (NYSE:PK) last released its earnings results on Thursday, April 30th. The financial services provider reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $622.00 million during the quarter, compared to analysts’ expectations of $609.77 million. During the same quarter last year, the business posted $0.46 earnings per share. The company’s revenue for the quarter 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. On average, equities research analysts forecast that Park Hotels & Resorts Inc. will post 1.77 EPS for the current year.

Park Hotels & Resorts Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 6.6%. The ex-dividend date of this dividend was Tuesday, June 30th. Park Hotels & Resorts’s dividend payout ratio (DPR) 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.