Park Hotels & Resorts (NYSE:PK) Price Target Raised to $11.00 at Morgan Stanley

Park Hotels & Resorts (NYSE:PK) had its target price increased by Morgan Stanley from $10.50 to $11.00 in a report issued on Friday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the financial services provider’s stock.

Other equities analysts have also issued reports about the stock. BMO Capital Markets reaffirmed a “market perform” rating and set a $14.00 price target on shares of Park Hotels & Resorts in a research report on Friday, June 12th. Weiss Ratings upgraded shares of Park Hotels & Resorts from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, May 20th. Barclays increased their target price on shares of Park Hotels & Resorts from $9.00 to $12.00 and gave the stock an “equal weight” rating in a research report on Monday, June 1st. Truist Financial boosted their price target on Park Hotels & Resorts from $12.00 to $13.00 and gave the company a “hold” rating in a research note on Tuesday, May 26th. Finally, LADENBURG THALM/SH SH increased their price target on Park Hotels & Resorts from $16.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, June 16th. One equities research 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 data from MarketBeat.com, Park Hotels & Resorts currently has a consensus rating of “Reduce” and an average price target of $13.00.

Park Hotels & Resorts Trading Up 1.8%

Shares of Park Hotels & Resorts stock opened at $14.87 on Friday. The business has a fifty day simple moving average of $13.41 and a two-hundred day simple moving average of $11.87. Park Hotels & Resorts has a 1 year low of $9.84 and a 1 year high of $14.95. The company has a market capitalization of $2.99 billion, a price-to-earnings ratio of -13.64, a P/E/G ratio of 1.96 and a beta of 1.33. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.25 and a quick ratio of 1.25.

Park Hotels & Resorts (NYSE:PK) last released its quarterly earnings data on Thursday, April 30th. The financial services provider reported $0.05 EPS for the quarter, missing the consensus estimate 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 analyst estimates of $609.77 million. During the same quarter in the prior year, the firm earned $0.46 earnings per share. Park Hotels & Resorts’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. Research analysts forecast that Park Hotels & Resorts will post 1.76 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. Investors of record on Tuesday, June 30th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $1.00 annualized dividend and a yield of 6.7%. Park Hotels & Resorts’s dividend payout ratio (DPR) is currently -91.74%.

Institutional Trading of Park Hotels & Resorts

Hedge funds have recently modified their holdings of the stock. Gradient Investments LLC raised its position in shares of Park Hotels & Resorts by 11.3% during the second quarter. Gradient Investments LLC now owns 246,702 shares of the financial services provider’s stock worth $3,516,000 after purchasing an additional 24,982 shares during the period. Chapin Davis Inc. increased its stake in Park Hotels & Resorts by 12.3% during the 2nd quarter. Chapin Davis Inc. now owns 13,200 shares of the financial services provider’s stock valued at $188,000 after purchasing 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 2nd quarter. Post Resch Tallon Group Inc. now owns 34,318 shares of the financial services provider’s stock valued at $489,000 after purchasing an additional 6,648 shares in the last quarter. GAMMA Investing LLC raised its holdings 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 buying an additional 2,064 shares during the last quarter. Finally, Versant Capital Management Inc raised its holdings in 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. Institutional investors 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.