Park Hotels & Resorts Inc. (NYSE:PK) Given Consensus Rating of “Reduce” by Brokerages

Shares of Park Hotels & Resorts Inc. (NYSE:PK) have been assigned an average recommendation of “Reduce” from the eleven analysts that are currently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $11.10.

PK has been the topic of a number of recent analyst reports. UBS Group upped their target price on shares of Park Hotels & Resorts from $10.00 to $11.00 and gave the company a “neutral” rating in a research report on Monday, October 6th. Cantor Fitzgerald began coverage on shares of Park Hotels & Resorts in a research note on Wednesday, October 1st. They issued a “neutral” rating and a $12.00 price target on the stock. Citigroup cut shares of Park Hotels & Resorts from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $13.00 to $12.00 in a research report on Tuesday, September 9th. Wells Fargo & Company dropped their target price on shares of Park Hotels & Resorts from $12.00 to $11.00 and set an “equal weight” rating for the company in a report on Monday, December 1st. Finally, Truist Financial upped their price target on Park Hotels & Resorts from $11.00 to $12.00 and gave the stock a “hold” rating in a research note on Thursday, December 4th.

Institutional Trading of Park Hotels & Resorts

A number of institutional investors and hedge funds have recently bought and sold shares of PK. Bank of America Corp DE grew its holdings in shares of Park Hotels & Resorts by 1.6% in the third quarter. Bank of America Corp DE now owns 13,074,474 shares of the financial services provider’s stock valued at $144,865,000 after purchasing an additional 203,922 shares in the last quarter. Donald Smith & CO. Inc. grew its stake in shares of Park Hotels & Resorts by 4.0% in the second quarter. Donald Smith & CO. Inc. now owns 12,044,177 shares of the financial services provider’s stock worth $123,212,000 after acquiring an additional 466,857 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of Park Hotels & Resorts by 76.7% in the second quarter. AQR Capital Management LLC now owns 7,744,912 shares of the financial services provider’s stock worth $79,230,000 after acquiring an additional 3,361,382 shares in the last quarter. Sculptor Capital LP increased its position in shares of Park Hotels & Resorts by 154.1% during the second quarter. Sculptor Capital LP now owns 6,534,153 shares of the financial services provider’s stock worth $66,844,000 after acquiring an additional 3,962,304 shares during the period. Finally, Allianz Asset Management GmbH raised its stake in shares of Park Hotels & Resorts by 29.9% in the third quarter. Allianz Asset Management GmbH now owns 4,447,474 shares of the financial services provider’s stock valued at $49,278,000 after acquiring an additional 1,023,400 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

Shares of PK stock opened at $10.68 on Wednesday. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.04 and a quick ratio of 1.04. The company has a market capitalization of $2.13 billion, a PE ratio of -152.50 and a beta of 1.45. The firm’s 50-day moving average is $10.67 and its two-hundred day moving average is $10.92. Park Hotels & Resorts has a 12 month low of $8.27 and a 12 month high of $15.12.

Park Hotels & Resorts (NYSE:PK) last posted its quarterly earnings results on Thursday, October 30th. The financial services provider reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.08). The firm had revenue of $610.00 million during the quarter, compared to analysts’ expectations of $617.05 million. Park Hotels & Resorts had a negative net margin of 0.47% and a negative return on equity of 1.25%. The business’s quarterly revenue was down 6.0% on a year-over-year basis. During the same period last year, the company earned $0.49 EPS. Park Hotels & Resorts has set its FY 2025 guidance at 1.850-1.970 EPS. Analysts predict that Park Hotels & Resorts will post 2.11 earnings per share for the current year.

Park Hotels & Resorts Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $1.00 annualized dividend and a yield of 9.4%. Park Hotels & Resorts’s dividend payout ratio is presently -1,428.57%.

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.