StockNews.com lowered shares of Park Hotels & Resorts (NYSE:PK – Free Report) from a hold rating to a sell rating in a report released on Tuesday.
Several other equities analysts also recently weighed in on the stock. Citigroup upgraded shares of Park Hotels & Resorts from a neutral rating to a buy rating and increased their price target for the stock from $14.00 to $20.00 in a report on Friday, March 22nd. Jefferies Financial Group upgraded Park Hotels & Resorts from a hold rating to a buy rating and increased their target price for the company from $14.00 to $21.00 in a research report on Tuesday, January 2nd. Truist Financial increased their target price on Park Hotels & Resorts from $20.00 to $21.00 and gave the company a buy rating in a research report on Thursday, March 14th. Wells Fargo & Company increased their target price on 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. Finally, Barclays increased their target price on Park Hotels & Resorts from $19.00 to $21.00 and gave the company an overweight rating in a research report on Friday, March 1st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Hold and a consensus price target of $17.58.
View Our Latest Stock Report on Park Hotels & Resorts
Park Hotels & Resorts Stock Performance
Park Hotels & Resorts (NYSE:PK – Get Free Report) last posted its quarterly earnings data on Tuesday, February 27th. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.39. Park Hotels & Resorts had a net margin of 3.60% and a return on equity of 2.44%. The firm had revenue of $657.00 million for the quarter, compared to the consensus estimate of $665.16 million. On average, equities analysts forecast that Park Hotels & Resorts will post 2.06 EPS for the current fiscal year.
Park Hotels & Resorts Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 6.04%. The ex-dividend date of this dividend is Friday, June 28th. Park Hotels & Resorts’s dividend payout ratio is currently 217.39%.
Institutional Inflows and Outflows
A number of institutional investors have recently modified their holdings of the stock. YHB Investment Advisors Inc. acquired a new position in Park Hotels & Resorts during the first quarter worth $40,000. Louisiana State Employees Retirement System grew its holdings in Park Hotels & Resorts by 2.4% during the first quarter. Louisiana State Employees Retirement System now owns 60,400 shares of the financial services provider’s stock worth $1,056,000 after acquiring an additional 1,400 shares during the period. GraniteShares Advisors LLC grew its holdings in Park Hotels & Resorts by 14.6% during the first quarter. GraniteShares Advisors LLC now owns 110,007 shares of the financial services provider’s stock worth $1,924,000 after acquiring an additional 14,000 shares during the period. State of Michigan Retirement System grew its holdings in Park Hotels & Resorts by 2.2% during the first quarter. State of Michigan Retirement System now owns 51,529 shares of the financial services provider’s stock worth $901,000 after acquiring an additional 1,100 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its holdings in Park Hotels & Resorts by 328.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 135,228 shares of the financial services provider’s stock worth $2,365,000 after acquiring an additional 103,665 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.
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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