Park Hotels & Resorts Inc. (NYSE:PK) Receives $17.83 Consensus Target Price from Analysts

Park Hotels & Resorts Inc. (NYSE:PK) 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.

Park Hotels & Resorts Stock Performance

Shares of PK opened at $14.35 on Friday. Park Hotels & Resorts has a one year low of $11.05 and a one year high of $18.05. The company has a 50-day simple moving average of $14.61 and a two-hundred day simple moving average of $15.74. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.58 and a quick ratio of 1.58. The firm has a market capitalization of $3.02 billion, a PE ratio of 32.61, a price-to-earnings-growth ratio of 0.68 and a beta of 2.03.

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.