Shares of Park Hotels & Resorts Inc. (NYSE:PK – Get Free Report) have received a consensus rating of “Hold” from the eleven analysts that are covering the company, Marketbeat reports. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $17.27.
A number of research analysts recently commented on the company. Barclays upped their price objective on Park Hotels & Resorts from $19.00 to $21.00 and gave the company an “overweight” rating in a report on Friday, March 1st. Citigroup raised Park Hotels & Resorts from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $14.00 to $20.00 in a research report on Friday, March 22nd. UBS Group upped their target price on shares of Park Hotels & Resorts from $14.00 to $18.00 and gave the company a “neutral” rating in a research report on Wednesday, March 6th. Truist Financial lifted their price target on shares of Park Hotels & Resorts from $20.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, March 14th. Finally, Wells Fargo & Company boosted their price target on shares of Park Hotels & Resorts from $17.00 to $18.00 and gave the company an “equal weight” rating in a research note on Thursday, March 21st.
Read Our Latest Stock Analysis on PK
Park Hotels & Resorts Stock Performance
Park Hotels & Resorts (NYSE:PK – Get Free Report) last announced its quarterly earnings results on Tuesday, February 27th. The financial services provider reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.39. Park Hotels & Resorts had a net margin of 3.42% and a return on equity of 3.08%. The firm had revenue of $657.00 million for the quarter, compared to analysts’ expectations of $665.16 million. On average, research analysts anticipate that Park Hotels & Resorts will post 2.06 earnings per share for the current year.
Park Hotels & Resorts Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be issued a $0.25 dividend. The ex-dividend date is Friday, June 28th. This represents a $1.00 dividend on an annualized basis and a yield of 6.20%. Park Hotels & Resorts’s dividend payout ratio (DPR) is presently 227.28%.
Hedge Funds Weigh In On Park Hotels & Resorts
Institutional investors and hedge funds have recently made changes to their positions in the stock. ClariVest Asset Management LLC acquired a new position in shares of Park Hotels & Resorts during the first quarter worth $1,240,000. SG Americas Securities LLC lifted its holdings in Park Hotels & Resorts by 15,714.0% during the 1st quarter. SG Americas Securities LLC now owns 1,301,019 shares of the financial services provider’s stock worth $22,755,000 after buying an additional 1,292,792 shares during the last quarter. LSV Asset Management boosted its position in shares of Park Hotels & Resorts by 2.4% during the 1st quarter. LSV Asset Management now owns 530,400 shares of the financial services provider’s stock worth $9,277,000 after acquiring an additional 12,200 shares in the last quarter. Texas Permanent School Fund Corp increased its holdings in shares of Park Hotels & Resorts by 1.5% in the 1st quarter. Texas Permanent School Fund Corp now owns 183,776 shares of the financial services provider’s stock valued at $3,214,000 after acquiring an additional 2,730 shares during the last quarter. Finally, GSA Capital Partners LLP raised its position in shares of Park Hotels & Resorts by 52.3% during the 1st quarter. GSA Capital Partners LLP now owns 66,486 shares of the financial services provider’s stock worth $1,163,000 after acquiring an additional 22,829 shares in the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.
About Park Hotels & Resorts
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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