Analysts Set Park Hotels & Resorts Inc. (NYSE:PK) Target Price at $18.65

Shares of Park Hotels & Resorts Inc. (NYSE:PK - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the eleven research firms that are covering the stock, MarketBeat.com 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 objective among analysts that have updated their coverage on the stock in the last year is $18.65.

A number of brokerages have commented on PK. UBS Group increased their target price on Park Hotels & Resorts from $14.00 to $15.00 and gave the company a "neutral" rating in a report on Monday, November 18th. Compass Point decreased their price objective on Park Hotels & Resorts from $25.00 to $20.00 and set a "buy" rating on the stock in a research note on Thursday, October 31st. Wells Fargo & Company lifted their price objective on Park Hotels & Resorts from $16.00 to $17.00 and gave the stock an "equal weight" rating in a research report on Monday, December 9th. Bank of America reduced their target price on shares of Park Hotels & Resorts from $17.00 to $16.50 and set a "neutral" rating on the stock in a report on Monday, October 21st. Finally, StockNews.com cut shares of Park Hotels & Resorts from a "hold" rating to a "sell" rating in a research note on Tuesday.

Institutional Trading of Park Hotels & Resorts

Several institutional investors and hedge funds have recently bought and sold shares of the company. Harbor Capital Advisors Inc. bought a new position in Park Hotels & Resorts in the third quarter worth about $33,000. Venturi Wealth Management LLC boosted its position in Park Hotels & Resorts by 281.6% during the 3rd quarter. Venturi Wealth Management LLC now owns 3,850 shares of the financial services provider's stock valued at $54,000 after purchasing an additional 2,841 shares during the period. Quarry LP grew its stake in Park Hotels & Resorts by 82.1% during the 2nd quarter. Quarry LP now owns 4,118 shares of the financial services provider's stock worth $62,000 after buying an additional 1,857 shares during the last quarter. Claro Advisors LLC acquired a new stake in Park Hotels & Resorts in the third quarter worth $69,000. Finally, Covestor Ltd lifted its stake in Park Hotels & Resorts by 64.8% in the third quarter. Covestor Ltd now owns 6,894 shares of the financial services provider's stock valued at $97,000 after buying an additional 2,711 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company's stock.

Park Hotels & Resorts Stock Performance

NYSE PK traded down $0.08 on Wednesday, hitting $13.58. 3,540,494 shares of the company's stock were exchanged, compared to its average volume of 4,133,539. 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 firm's 50-day moving average price is $14.87 and its two-hundred day moving average price is $14.62. The firm has a market cap of $2.80 billion, a price-to-earnings ratio of 8.65, a P/E/G ratio of 6.90 and a beta of 2.02. 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 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.47 by ($0.21). The company had revenue of $649.00 million during the quarter, compared to analysts' expectations of $646.15 million. Park Hotels & Resorts had a net margin of 12.66% and a return on equity of 9.63%. The company's quarterly revenue was down 4.4% on a year-over-year basis. During the same period last year, the business posted $0.51 earnings per share. On average, research analysts expect that Park Hotels & Resorts will post 1.96 EPS for the current year.

Park Hotels & Resorts Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.65 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $2.60 dividend on an annualized basis and a dividend yield of 19.15%. This is an increase from Park Hotels & Resorts's previous quarterly dividend of $0.25. Park Hotels & Resorts's dividend payout ratio (DPR) is presently 63.69%.

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.