Wolfe Research Downgrades Park Hotels & Resorts (NYSE:PK) to Peer Perform

Wolfe Research downgraded shares of Park Hotels & Resorts (NYSE:PK) from an outperform rating to a peer perform rating in a research report sent to investors on Thursday, Marketbeat reports.

Other analysts have also issued reports about the stock. UBS Group decreased their target price on shares of Park Hotels & Resorts from $18.00 to $14.00 and set a neutral rating on the stock in a research report on Friday, August 16th. Evercore ISI dropped their target price on Park Hotels & Resorts from $20.00 to $19.00 and set an outperform rating for the company in a report on Tuesday, August 13th. Wells Fargo & Company decreased their price target on Park Hotels & Resorts from $17.00 to $14.50 and set an equal weight rating on the stock in a research note on Friday, September 13th. Finally, Truist Financial dropped their price objective on Park Hotels & Resorts from $20.00 to $18.00 and set a buy rating for the company in a research note on Wednesday, September 4th. Eight equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $17.05.

Park Hotels & Resorts Trading Up 0.3 %

Shares of PK opened at $14.81 on Thursday. The stock’s 50-day moving average price is $14.56 and its 200 day moving average price is $15.49. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 1.23. The firm has a market capitalization of $3.09 billion, a price-to-earnings ratio of 33.66, a P/E/G ratio of 0.73 and a beta of 2.02. Park Hotels & Resorts has a 12-month low of $11.05 and a 12-month high of $18.05.

Park Hotels & Resorts (NYSE:PK) last released its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.30). Park Hotels & Resorts had a net margin of 11.50% and a return on equity of 8.77%. The firm had revenue of $686.00 million for the quarter, compared to the consensus estimate of $694.94 million. As a group, research analysts predict that Park Hotels & Resorts will post 2.11 earnings per share for the current year.

Park Hotels & Resorts Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a dividend of $0.25 per share. The ex-dividend date is Monday, September 30th. This represents a $1.00 annualized dividend and a yield of 6.75%. Park Hotels & Resorts’s dividend payout ratio (DPR) is 227.28%.

Institutional Investors Weigh In On Park Hotels & Resorts

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Fidelis Capital Partners LLC bought a new stake in shares of Park Hotels & Resorts during the first quarter valued at approximately $26,000. Raleigh Capital Management Inc. bought a new position in Park Hotels & Resorts in the 4th quarter worth approximately $35,000. YHB Investment Advisors Inc. acquired a new position in Park Hotels & Resorts during the 1st quarter worth $40,000. Quarry LP boosted its position in Park Hotels & Resorts by 82.1% in the 2nd quarter. Quarry LP now owns 4,118 shares of the financial services provider’s stock valued at $62,000 after buying an additional 1,857 shares during the last quarter. Finally, FinTrust Capital Advisors LLC boosted its position in Park Hotels & Resorts by 260.5% in the 1st quarter. FinTrust Capital Advisors LLC now owns 5,076 shares of the financial services provider’s stock valued at $89,000 after buying an additional 3,668 shares during the last quarter. Institutional investors and hedge funds 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.