Park Hotels & Resorts (NYSE:PK) Sets New 12-Month Low – Here’s Why

Park Hotels & Resorts Inc. (NYSE:PK) shares reached a new 52-week low during trading on Tuesday . The stock traded as low as $12.75 and last traded at $12.75, with a volume of 112372 shares changing hands. The stock had previously closed at $12.94.

Analyst Ratings Changes

PK has been the subject of a number of research reports. UBS Group lowered their price objective on Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating for the company in a research report on Monday, February 3rd. Bank of America cut their price objective on shares of Park Hotels & Resorts from $17.00 to $16.50 and set a “neutral” rating on the stock in a report on Monday, October 21st. Wells Fargo & Company lifted their target price on shares of Park Hotels & Resorts from $16.00 to $17.00 and gave the stock an “equal weight” rating in a report on Monday, December 9th. Jefferies Financial Group cut their price target on Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating on the stock in a research note on Thursday, January 2nd. Finally, StockNews.com raised Park Hotels & Resorts from a “sell” rating to a “hold” rating in a research note on Thursday. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $18.45.

Park Hotels & Resorts Stock Down 1.8 %

The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.51 and a current ratio of 1.51. The firm’s fifty day simple moving average is $14.20 and its 200 day simple moving average is $14.40. The stock has a market capitalization of $2.63 billion, a price-to-earnings ratio of 8.10 and a beta of 2.00.

Park Hotels & Resorts Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 20.44%. This is a positive change from Park Hotels & Resorts’s previous quarterly dividend of $0.25. The ex-dividend date was Tuesday, December 31st. Park Hotels & Resorts’s dividend payout ratio (DPR) is presently 63.69%.

Hedge Funds Weigh In On Park Hotels & Resorts

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Creative Planning grew its holdings in shares of Park Hotels & Resorts by 39.0% during the second quarter. Creative Planning now owns 26,190 shares of the financial services provider’s stock worth $392,000 after buying an additional 7,348 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in Park Hotels & Resorts during the second quarter worth $204,000. CWM LLC grew its position in Park Hotels & Resorts by 98.4% in the third quarter. CWM LLC now owns 111,611 shares of the financial services provider’s stock valued at $1,574,000 after purchasing an additional 55,353 shares in the last quarter. Bfsg LLC increased its stake in Park Hotels & Resorts by 8.7% in the 3rd quarter. Bfsg LLC now owns 15,440 shares of the financial services provider’s stock valued at $218,000 after buying an additional 1,235 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of Park Hotels & Resorts by 19.6% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 42,708 shares of the financial services provider’s stock worth $602,000 after buying an additional 6,986 shares during the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

About Park Hotels & Resorts

Park Hotels & Resorts, Inc operates as a real estate investment trust, which owns and operates hotels and resorts. It operates through the Consolidated Hotels and Unconsolidated Hotels segments. Its portfolio of hotels and resorts include the Waldorf Astoria Hotels and Resorts, Conrad Hotels & Resorts, Hilton Hotels & Resorts, DoubleTree by Hilton, Embassy Suites by Hilton, Hilton Garden Inn, Hampton by Hilton, and Curio.