Wolfe Research cut shares of Park Hotels & Resorts (NYSE:PK – Free Report) from an outperform rating to a peer perform rating in a research report released on Thursday, Marketbeat Ratings reports.
Other equities analysts also recently issued research reports about the company. Wells Fargo & Company reduced their price target on Park Hotels & Resorts from $17.00 to $14.50 and set an equal weight rating for the company in a research report on Friday, September 13th. Evercore ISI cut their price objective on Park Hotels & Resorts from $20.00 to $19.00 and set an outperform rating for the company in a report on Tuesday, August 13th. Truist Financial cut their price objective on Park Hotels & Resorts from $20.00 to $18.00 and set a buy rating for the company in a report on Wednesday, September 4th. Finally, UBS Group cut their price objective on Park Hotels & Resorts from $18.00 to $14.00 and set a neutral rating for the company in a report on Friday, August 16th. Eight equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $17.05.
View Our Latest Analysis on Park Hotels & Resorts
Park Hotels & Resorts Trading Up 0.3 %
Park Hotels & Resorts (NYSE:PK – Get Free Report) last released its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.30). Park Hotels & Resorts had a return on equity of 8.77% and a net margin of 11.50%. The firm had revenue of $686.00 million for the quarter, compared to analyst estimates of $694.94 million. As a group, analysts expect that Park Hotels & Resorts will post 2.11 EPS for the current fiscal year.
Park Hotels & Resorts Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 6.75%. The ex-dividend date is Monday, September 30th. Park Hotels & Resorts’s dividend payout ratio (DPR) is presently 227.28%.
Institutional Investors Weigh In On Park Hotels & Resorts
A number of large investors have recently added to or reduced their stakes in the business. Fidelis Capital Partners LLC bought a new position in Park Hotels & Resorts during the 1st quarter worth $26,000. Raleigh Capital Management Inc. acquired a new stake in Park Hotels & Resorts in the fourth quarter valued at about $35,000. YHB Investment Advisors Inc. acquired a new stake in Park Hotels & Resorts in the first quarter valued at about $40,000. Quarry LP boosted its stake in Park Hotels & Resorts by 82.1% in the second quarter. Quarry LP now owns 4,118 shares of the financial services provider’s stock valued at $62,000 after buying an additional 1,857 shares in the last quarter. Finally, FinTrust Capital Advisors LLC boosted its stake in Park Hotels & Resorts by 260.5% in the first quarter. FinTrust Capital Advisors LLC now owns 5,076 shares of the financial services provider’s stock valued at $89,000 after buying an additional 3,668 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.
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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