Park Hotels & Resorts Inc. (PK) to Distribute Quarterly Dividend of $0.25 on October 15th

Park Hotels & Resorts Inc. (NYSE:PK) announced a quarterly dividend on Friday, July 31st. Shareholders of record on Wednesday, September 30th will be given a dividend of $0.25 per share by the financial services provider on Thursday, October 15th. This represents a $1.00 dividend on an annualized basis and a yield of 6.5%. The ex-dividend date of this dividend is Wednesday, September 30th.

Park Hotels & Resorts has raised its dividend by an average of 0.2%per year over the last three years and has raised its dividend annually for the last 1 consecutive years. Park Hotels & Resorts has a payout ratio of 172.4% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Park Hotels & Resorts to earn $1.83 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 54.6%.

Park Hotels & Resorts Stock Performance

NYSE PK opened at $15.46 on Monday. The stock has a fifty day simple moving average of $15.20 and a 200-day simple moving average of $13.29. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 1.29. The stock has a market cap of $3.11 billion, a PE ratio of -18.63, a P/E/G ratio of 1.96 and a beta of 1.33. Park Hotels & Resorts has a twelve month low of $9.84 and a twelve month high of $16.20.

Park Hotels & Resorts (NYSE:PK) last announced its earnings results on Thursday, August 6th. The financial services provider reported $0.24 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.24. The company had revenue of $680.00 million for the quarter, compared to analyst estimates of $659.68 million. Park Hotels & Resorts had a negative return on equity of 5.23% and a negative net margin of 6.41%.The firm’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.64 earnings per share. Park Hotels & Resorts has set its FY 2026 guidance at 1.900-2.000 EPS. Equities analysts anticipate that Park Hotels & Resorts will post 1.86 earnings per share for the current year.

Wall Street Analysts Forecast Growth

PK has been the topic of a number of analyst reports. Truist Financial raised their price objective on shares of Park Hotels & Resorts from $13.00 to $17.00 and gave the company a “hold” rating in a report on Thursday, September 10th. Wells Fargo & Company upgraded Park Hotels & Resorts to a “hold” rating in a research note on Thursday, July 23rd. BMO Capital Markets raised Park Hotels & Resorts from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $14.00 to $18.00 in a research report on Tuesday, September 1st. JPMorgan Chase & Co. boosted their target price on Park Hotels & Resorts from $13.00 to $14.00 and gave the stock an “underweight” rating in a research note on Monday, August 10th. Finally, Barclays boosted their price objective on shares of Park Hotels & Resorts from $12.00 to $14.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 27th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Park Hotels & Resorts presently has a consensus rating of “Hold” and an average target price of $15.33.

Park Hotels & Resorts Company Profile

Park Hotels & Resorts Inc (NYSE:PK) is a lodging real estate investment trust that owns and invests in a portfolio of hotels and resorts across the United States. The company’s properties are generally located in prominent business, convention and leisure destinations and operate under well-known hospitality brands, including Hilton, Marriott and Hyatt.

Park Hotels & Resorts generates revenue primarily through the operation of its hotel properties, which provide lodging, food and beverage, meeting and event space, and other guest services.