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

Park Hotels & Resorts Inc. (NYSE:PK) has received an average recommendation of “Reduce” from the thirteen research firms that are presently covering the firm, MarketBeat.com reports. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $11.2727.

Several equities analysts recently issued reports on the company. Zacks Research cut Park Hotels & Resorts from a “hold” rating to a “strong sell” rating in a research report on Wednesday. Weiss Ratings lowered Park Hotels & Resorts from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, January 12th. Wells Fargo & Company decreased their price target on 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. Truist Financial boosted their price target on shares of Park Hotels & Resorts from $11.00 to $12.00 and gave the stock a “hold” rating in a research note on Thursday, December 4th. Finally, Barclays started coverage on shares of Park Hotels & Resorts in a research report on Tuesday, January 6th. They issued an “overweight” rating and a $13.00 price objective for the company.

Park Hotels & Resorts Stock Down 0.5%

Park Hotels & Resorts stock opened at $11.43 on Friday. The company has a market capitalization of $2.28 billion, a PE ratio of -163.29 and a beta of 1.44. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.04 and a current ratio of 1.04. Park Hotels & Resorts has a fifty-two week low of $8.27 and a fifty-two week high of $13.90. The firm has a 50 day moving average price of $10.75 and a 200 day moving average price of $10.99.

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

Park Hotels & Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were paid a $0.25 dividend. The ex-dividend date was Wednesday, December 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.7%. Park Hotels & Resorts’s payout ratio is -1,428.57%.

Insiders Place Their Bets

In related news, Director Christie B. Kelly bought 2,949 shares of the stock in a transaction on Wednesday, January 14th. The shares were bought at an average cost of $11.19 per share, for a total transaction of $32,999.31. Following the completion of the transaction, the director owned 150,501 shares of the company’s stock, valued at $1,684,106.19. This represents a 2.00% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Park Hotels & Resorts

Institutional investors and hedge funds have recently modified their holdings of the company. California State Teachers Retirement System boosted its stake in shares of Park Hotels & Resorts by 0.5% during the 2nd quarter. California State Teachers Retirement System now owns 192,452 shares of the financial services provider’s stock worth $1,969,000 after purchasing an additional 968 shares during the last quarter. Advisors Asset Management Inc. boosted its position in Park Hotels & Resorts by 0.8% during the third quarter. Advisors Asset Management Inc. now owns 125,051 shares of the financial services provider’s stock worth $1,386,000 after acquiring an additional 1,038 shares during the last quarter. Kera Capital Partners Inc. grew its stake in Park Hotels & Resorts by 13.3% in the 3rd quarter. Kera Capital Partners Inc. now owns 14,583 shares of the financial services provider’s stock worth $162,000 after acquiring an additional 1,714 shares during the period. Jones Financial Companies Lllp raised its holdings in Park Hotels & Resorts by 16.7% in the 3rd quarter. Jones Financial Companies Lllp now owns 12,239 shares of the financial services provider’s stock valued at $141,000 after acquiring an additional 1,748 shares during the last quarter. Finally, Pitcairn Co. lifted its stake in shares of Park Hotels & Resorts by 13.7% during the 2nd quarter. Pitcairn Co. now owns 15,029 shares of the financial services provider’s stock worth $154,000 after purchasing an additional 1,814 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

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.