Park Hotels & Resorts Inc. (NYSE:PK) Receives $18.65 Average Price Target from Brokerages

Park Hotels & Resorts Inc. (NYSE:PK) has been assigned a consensus recommendation of “Moderate Buy” from the eleven analysts that are covering the firm, MarketBeat reports. Five research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $18.45.

A number of equities analysts recently weighed in on the stock. Compass Point cut their price target on shares of Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Jefferies Financial Group cut their price target on shares of Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. StockNews.com cut Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research note on Wednesday. Bank of America lowered their price objective on Park Hotels & Resorts from $17.00 to $16.50 and set a “neutral” rating on the stock in a research note on Monday, October 21st. Finally, Wells Fargo & Company boosted their price objective on Park Hotels & Resorts from $16.00 to $17.00 and gave the company an “equal weight” rating in a research note on Monday, December 9th.

Park Hotels & Resorts Price Performance

PK opened at $13.19 on Friday. The firm’s fifty day moving average price is $14.40 and its two-hundred day moving average price is $14.45. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.51 and a quick ratio of 1.51. The company has a market capitalization of $2.72 billion, a price-to-earnings ratio of 8.40 and a beta of 2.00. Park Hotels & Resorts has a 1 year low of $12.80 and a 1 year high of $18.05.

Park Hotels & Resorts Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.65 per share. The ex-dividend date was Tuesday, December 31st. This is a boost from Park Hotels & Resorts’s previous quarterly dividend of $0.25. This represents a $2.60 annualized dividend and a dividend yield of 19.72%. Park Hotels & Resorts’s dividend payout ratio is currently 63.69%.

Institutional Investors Weigh In On Park Hotels & Resorts

Hedge funds and other institutional investors have recently modified their holdings of the stock. XTX Topco Ltd increased its position in shares of Park Hotels & Resorts by 420.7% during the third quarter. XTX Topco Ltd now owns 89,168 shares of the financial services provider’s stock valued at $1,257,000 after buying an additional 72,044 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of Park Hotels & Resorts by 488.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 83,473 shares of the financial services provider’s stock worth $1,177,000 after purchasing an additional 69,296 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Park Hotels & Resorts by 321.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,409,574 shares of the financial services provider’s stock worth $19,875,000 after purchasing an additional 1,075,255 shares during the last quarter. Donald Smith & CO. Inc. increased its position in shares of Park Hotels & Resorts by 22.5% in the third quarter. Donald Smith & CO. Inc. now owns 8,077,286 shares of the financial services provider’s stock worth $113,890,000 after purchasing an additional 1,484,295 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Park Hotels & Resorts by 18.4% in the third quarter. JPMorgan Chase & Co. now owns 3,488,097 shares of the financial services provider’s stock worth $49,182,000 after purchasing an additional 540,920 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors.

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.