Park Hotels & Resorts Inc. (NYSE:PK - Get Free Report) shares hit a new 52-week low during mid-day trading on Friday . The company traded as low as $13.22 and last traded at $13.40, with a volume of 218038 shares. The stock had previously closed at $13.55.
Analyst Upgrades and Downgrades
Several equities analysts have recently commented on PK shares. Compass Point decreased their price objective on shares of Park Hotels & Resorts from $25.00 to $20.00 and set a "buy" rating on the stock in a report on Thursday, October 31st. StockNews.com lowered Park Hotels & Resorts from a "hold" rating to a "sell" rating in a report on Tuesday. Wolfe Research lowered shares of Park Hotels & Resorts from an "outperform" rating to a "peer perform" rating in a research note on Thursday, September 26th. UBS Group boosted 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. Finally, Bank of America dropped their price target on Park Hotels & Resorts from $17.00 to $16.50 and set a "neutral" rating on the stock in a research note on Monday, October 21st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $18.65.
Check Out Our Latest Report on PK
Park Hotels & Resorts Stock Up 1.7 %
The firm's 50 day moving average is $14.85 and its 200-day moving average is $14.60. The firm has a market cap of $2.84 billion, a PE ratio of 8.78, a P/E/G ratio of 6.90 and a beta of 2.02. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 1.24.
Park Hotels & Resorts (NYSE:PK - Get Free Report) last issued its quarterly 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 business had revenue of $649.00 million during the quarter, compared to analyst estimates of $646.15 million. Park Hotels & Resorts had a return on equity of 9.63% and a net margin of 12.66%. The firm's quarterly revenue was down 4.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.51 earnings per share. As a group, equities research analysts expect that Park Hotels & Resorts Inc. will post 1.96 earnings per share for the current fiscal year.
Park Hotels & Resorts Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a $0.65 dividend. This is a positive change from Park Hotels & Resorts's previous quarterly dividend of $0.25. The ex-dividend date is Tuesday, December 31st. This represents a $2.60 annualized dividend and a yield of 18.87%. Park Hotels & Resorts's dividend payout ratio (DPR) is presently 63.69%.
Hedge Funds Weigh In On Park Hotels & Resorts
Several hedge funds and other institutional investors have recently bought and sold shares of PK. Harbor Capital Advisors Inc. bought a new position in shares of Park Hotels & Resorts during the third quarter worth about $33,000. Venturi Wealth Management LLC increased its position in Park Hotels & Resorts by 281.6% in the 3rd quarter. Venturi Wealth Management LLC now owns 3,850 shares of the financial services provider's stock valued at $54,000 after acquiring an additional 2,841 shares during the period. Quarry LP lifted its holdings in Park Hotels & Resorts by 82.1% in the second quarter. Quarry LP now owns 4,118 shares of the financial services provider's stock worth $62,000 after purchasing an additional 1,857 shares during the period. Claro Advisors LLC acquired a new position in shares of Park Hotels & Resorts during the third quarter valued at approximately $69,000. Finally, Covestor Ltd raised its stake in shares of Park Hotels & Resorts by 64.8% in the 3rd quarter. Covestor Ltd now owns 6,894 shares of the financial services provider's stock worth $97,000 after buying an additional 2,711 shares in the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.
Park Hotels & Resorts Company Profile
(
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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.
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