Park Hotels & Resorts (NYSE:PK) Cut to “Sell” at StockNews.com

StockNews.com downgraded shares of Park Hotels & Resorts (NYSE:PK) from a hold rating to a sell rating in a research note issued to investors on Saturday morning.

PK has been the topic of several other research reports. Wells Fargo & Company raised their price objective on shares of Park Hotels & Resorts from $17.00 to $18.00 and gave the company an equal weight rating in a research report on Thursday, March 21st. Citigroup upgraded shares of Park Hotels & Resorts from a neutral rating to a buy rating and raised their price objective for the company from $14.00 to $20.00 in a research report on Friday, March 22nd. Truist Financial lifted their target price on shares of Park Hotels & Resorts from $20.00 to $21.00 and gave the stock a buy rating in a research report on Thursday, March 14th. UBS Group lifted their target price on shares of Park Hotels & Resorts from $14.00 to $18.00 and gave the stock a neutral rating in a research report on Wednesday, March 6th. Finally, Barclays lifted their target price on shares of Park Hotels & Resorts from $19.00 to $21.00 and gave the stock an overweight rating in a research report on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Park Hotels & Resorts presently has an average rating of Hold and a consensus price target of $17.58.

Park Hotels & Resorts Stock Down 1.8 %

Park Hotels & Resorts stock opened at $16.49 on Friday. Park Hotels & Resorts has a twelve month low of $11.05 and a twelve month high of $18.05. The firm has a 50 day moving average price of $16.70 and a 200-day moving average price of $15.21. The company has a market capitalization of $3.47 billion, a P/E ratio of 35.85, a P/E/G ratio of 0.66 and a beta of 2.03. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 1.19.

Park Hotels & Resorts (NYSE:PK) last released its quarterly earnings data on Tuesday, February 27th. The financial services provider reported $0.88 EPS for the quarter, topping the consensus estimate of $0.49 by $0.39. The company had revenue of $657.00 million during the quarter, compared to the consensus estimate of $665.16 million. Park Hotels & Resorts had a net margin of 3.60% and a return on equity of 2.44%. As a group, equities analysts predict that Park Hotels & Resorts will post 2 EPS for the current year.

Park Hotels & Resorts Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.00 annualized dividend and a dividend yield of 6.06%. This is a positive change from Park Hotels & Resorts’s previous quarterly dividend of $0.15. Park Hotels & Resorts’s dividend payout ratio is presently 217.39%.

Institutional Investors Weigh In On Park Hotels & Resorts

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in Park Hotels & Resorts by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 33,696,042 shares of the financial services provider’s stock worth $658,084,000 after purchasing an additional 567,015 shares during the period. BlackRock Inc. boosted its stake in Park Hotels & Resorts by 0.9% in the 1st quarter. BlackRock Inc. now owns 30,213,527 shares of the financial services provider’s stock worth $373,439,000 after purchasing an additional 278,266 shares during the period. State Street Corp boosted its stake in Park Hotels & Resorts by 5.4% in the 2nd quarter. State Street Corp now owns 13,036,934 shares of the financial services provider’s stock worth $177,037,000 after purchasing an additional 662,640 shares during the period. Goldman Sachs Group Inc. boosted its stake in Park Hotels & Resorts by 54.6% in the 2nd quarter. Goldman Sachs Group Inc. now owns 11,358,377 shares of the financial services provider’s stock worth $145,614,000 after purchasing an additional 4,010,239 shares during the period. Finally, Donald Smith & CO. Inc. boosted its stake in Park Hotels & Resorts by 36.0% in the 4th quarter. Donald Smith & CO. Inc. now owns 6,529,666 shares of the financial services provider’s stock worth $99,904,000 after purchasing an additional 1,728,921 shares during the period. Hedge funds and other institutional investors own 92.69% of the company’s stock.

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.