Brokerages Set Park Hotels & Resorts Inc. (NYSE:PK) Target Price at $18.55

Shares of Park Hotels & Resorts Inc. (NYSE:PK - Get Free Report) have been given a consensus rating of "Moderate Buy" by the eleven analysts that are presently covering the company, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $18.55.

Several research firms have commented on PK. StockNews.com lowered shares of Park Hotels & Resorts from a "hold" rating to a "sell" rating in a report on Thursday, November 7th. Wolfe Research downgraded Park Hotels & Resorts from an "outperform" rating to a "peer perform" rating in a research note on Thursday, September 26th. Wells Fargo & Company lifted their price target on Park Hotels & Resorts from $16.00 to $17.00 and gave the company an "equal weight" rating in a research report on Monday, December 9th. UBS Group upped their price objective on Park Hotels & Resorts from $14.00 to $15.00 and gave the stock a "neutral" rating in a research report on Monday, November 18th. Finally, Bank of America cut their target price on shares of Park Hotels & Resorts from $17.00 to $16.50 and set a "neutral" rating for the company in a report on Monday, October 21st.

Park Hotels & Resorts Stock Performance

PK traded down $0.11 on Friday, reaching $15.28. 4,191,506 shares of the stock were exchanged, compared to its average volume of 2,789,669. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.51 and a quick ratio of 1.51. The company's 50-day moving average price is $14.70 and its 200 day moving average price is $14.69. The firm has a market capitalization of $3.15 billion, a PE ratio of 9.73, a PEG ratio of 7.02 and a beta of 2.03. Park Hotels & Resorts has a fifty-two week low of $13.23 and a fifty-two week high of $18.05.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last issued its earnings results on Tuesday, October 29th. The financial services provider reported $0.26 EPS for the quarter, missing analysts' consensus estimates of $0.47 by ($0.21). Park Hotels & Resorts had a net margin of 12.66% and a return on equity of 9.63%. The firm had revenue of $649.00 million during the quarter, compared to analysts' expectations of $646.15 million. During the same quarter in the prior year, the company earned $0.51 EPS. Park Hotels & Resorts's quarterly revenue was down 4.4% on a year-over-year basis. As a group, sell-side analysts forecast that Park Hotels & Resorts will post 1.96 EPS for the current fiscal year.

Park Hotels & Resorts Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $0.65 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This is a positive change from Park Hotels & Resorts's previous quarterly dividend of $0.25. This represents a $2.60 dividend on an annualized basis and a yield of 17.02%. Park Hotels & Resorts's dividend payout ratio (DPR) is currently 63.69%.

Institutional Trading of Park Hotels & Resorts

Large investors have recently made changes to their positions in the company. Algert Global LLC grew its stake in Park Hotels & Resorts by 48.6% during the 2nd quarter. Algert Global LLC now owns 752,273 shares of the financial services provider's stock valued at $11,269,000 after acquiring an additional 245,973 shares in the last quarter. Quantbot Technologies LP increased its holdings in shares of Park Hotels & Resorts by 95.7% in the second quarter. Quantbot Technologies LP now owns 367,900 shares of the financial services provider's stock valued at $5,511,000 after purchasing an additional 179,884 shares during the last quarter. National Bank of Canada FI lifted its position in Park Hotels & Resorts by 70.9% during the second quarter. National Bank of Canada FI now owns 223,600 shares of the financial services provider's stock worth $3,298,000 after buying an additional 92,800 shares in the last quarter. AQR Capital Management LLC lifted its position in Park Hotels & Resorts by 287.7% during the second quarter. AQR Capital Management LLC now owns 5,252,853 shares of the financial services provider's stock worth $77,217,000 after buying an additional 3,897,889 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in Park Hotels & Resorts by 488.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 83,473 shares of the financial services provider's stock worth $1,177,000 after buying an additional 69,296 shares during the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Park Hotels & Resorts Company Profile

Park is one of the largest publicly traded lodging REITs with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value. Park's portfolio currently consists of 43 premium-branded hotels and resorts with over 26,000 rooms primarily located in prime city center and resort locations.