Park Hotels & Resorts Inc. (NYSE:PK – Get Free Report) has received an average recommendation of “Moderate Buy” from the twelve ratings firms that are presently covering the company, Marketbeat Ratings reports. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $17.42.
A number of research firms have issued reports on PK. Truist Financial decreased their price objective on Park Hotels & Resorts from $21.00 to $20.00 and set a “buy” rating for the company in a report on Thursday, May 30th. StockNews.com raised Park Hotels & Resorts from a “sell” rating to a “hold” rating in a report on Wednesday, May 1st. Barclays upped their price target on shares of Park Hotels & Resorts from $21.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday, May 24th. Wedbush restated a “neutral” rating and set a $17.00 price objective on shares of Park Hotels & Resorts in a research note on Tuesday, May 28th. Finally, UBS Group reduced their price target on shares of Park Hotels & Resorts from $18.00 to $14.00 and set a “neutral” rating for the company in a research report on Friday.
View Our Latest Analysis on Park Hotels & Resorts
Park Hotels & Resorts Stock Performance
Park Hotels & Resorts Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.00 annualized dividend and a dividend yield of 6.97%. Park Hotels & Resorts’s payout ratio is 227.27%.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the company. AQR Capital Management LLC boosted its holdings in shares of Park Hotels & Resorts by 287.7% in the second quarter. AQR Capital Management LLC now owns 5,252,853 shares of the financial services provider’s stock worth $77,217,000 after buying an additional 3,897,889 shares during the last quarter. Norges Bank purchased a new position in shares of Park Hotels & Resorts during the 4th quarter worth $31,745,000. Jupiter Asset Management Ltd. grew its position in shares of Park Hotels & Resorts by 286.9% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 2,597,091 shares of the financial services provider’s stock valued at $38,904,000 after acquiring an additional 1,925,850 shares during the period. Los Angeles Capital Management LLC increased its stake in shares of Park Hotels & Resorts by 601.1% in the 1st quarter. Los Angeles Capital Management LLC now owns 2,111,004 shares of the financial services provider’s stock worth $36,921,000 after purchasing an additional 1,809,886 shares in the last quarter. Finally, Donald Smith & CO. Inc. raised its holdings in Park Hotels & Resorts by 36.0% in the 4th quarter. Donald Smith & CO. Inc. now owns 6,529,666 shares of the financial services provider’s stock worth $99,904,000 after purchasing an additional 1,728,921 shares during the period. 92.69% of the stock is owned by hedge funds and other 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.
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