Park Hotels & Resorts (NYSE:PK) Sets New 52-Week High After Analyst Upgrade

Shares of Park Hotels & Resorts Inc. (NYSE:PK) reached a new 52-week high during trading on Thursday after JPMorgan Chase & Co. raised their price target on the stock from $14.00 to $16.00. JPMorgan Chase & Co. currently has an underweight rating on the stock. Park Hotels & Resorts traded as high as $17.12 and last traded at $17.0050, with a volume of 5,806,854 shares changing hands. The stock had previously closed at $16.57.

A number of other analysts also recently weighed in on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $18.00 price target on shares of Park Hotels & Resorts in a report on Friday, August 14th. UBS Group upgraded shares of Park Hotels & Resorts from a “neutral” rating to a “hold” rating in a research report on Monday, September 28th. Wells Fargo & Company raised shares of Park Hotels & Resorts to a “hold” rating in a research note on Thursday, July 23rd. Truist Financial boosted their price objective on shares of Park Hotels & Resorts from $13.00 to $17.00 and gave the company a “hold” rating in a research report on Thursday, September 10th. Finally, Morgan Stanley boosted their price objective on shares of Park Hotels & Resorts from $11.00 to $13.00 and gave the company an “equal weight” rating in a research report on Monday, October 12th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $16.09.

Hedge Funds Weigh In On Park Hotels & Resorts

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Brown Financial Advisors boosted its position in Park Hotels & Resorts by 4.4% in the second quarter. Brown Financial Advisors now owns 21,461 shares of the financial services provider’s stock valued at $306,000 after buying an additional 901 shares in the last quarter. Parkside Financial Bank & Trust grew its stake in shares of Park Hotels & Resorts by 23.9% during the second quarter. Parkside Financial Bank & Trust now owns 5,091 shares of the financial services provider’s stock worth $73,000 after buying an additional 982 shares during the last quarter. Versant Capital Management Inc grew its stake 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 buying an additional 1,030 shares during the last quarter. Fifth Third Bancorp grew its stake in shares of Park Hotels & Resorts by 68.8% during the first quarter. Fifth Third Bancorp now owns 2,604 shares of the financial services provider’s stock worth $27,000 after buying an additional 1,061 shares during the last quarter. Finally, Nissay Asset Management Corp Japan grew its stake in shares of Park Hotels & Resorts by 3.7% during the second quarter. Nissay Asset Management Corp Japan now owns 32,684 shares of the financial services provider’s stock worth $466,000 after buying an additional 1,177 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

Park Hotels & Resorts Stock Down 1.9%

The firm’s fifty day moving average price is $15.49 and its 200-day moving average price is $13.98. The company has a market capitalization of $3.36 billion, a price-to-earnings ratio of 8.45 and a beta of 1.36. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.53 and a quick ratio of 1.53.

Park Hotels & Resorts (NYSE:PK) last announced its quarterly earnings results on Thursday, August 6th. The financial services provider reported $0.24 EPS for the quarter, meeting analysts’ consensus estimates of $0.24. Park Hotels & Resorts had a negative return on equity of 5.23% and a negative net margin of 6.41%. The company had revenue of $680.00 million during the quarter, compared to analysts’ expectations of $659.68 million. During the same period in the prior year, the company earned $0.64 EPS. Park Hotels & Resorts’s revenue was up 1.2% compared to the same quarter last year. Park Hotels & Resorts has set its FY 2026 guidance at 1.900-2.000 EPS. Sell-side analysts expect that Park Hotels & Resorts Inc. will post 1.87 earnings per share for the current fiscal year.

Park Hotels & Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were given a $0.25 dividend. The ex-dividend date was Wednesday, September 30th. This represents a $1.00 annualized dividend and a yield of 6.0%. Park Hotels & Resorts’s dividend payout ratio (DPR) is currently -120.48%.

About Park Hotels & Resorts

Park Hotels & Resorts Inc (NYSE: PK) is a real estate investment trust focused on owning and operating hotels and resorts. The company’s portfolio includes full-service properties in major business and leisure destinations, with hotels operating under Hilton brands as well as other nationally recognized and independent brands.

Park’s properties provide lodging, food and beverage, meeting and event facilities, and other hospitality services. Its hotels are located primarily in the United States, including gateway cities, convention markets, and resort destinations.

Park Hotels & Resorts was formed in 2017 through a spin-off from Hilton Worldwide Holdings.