Park Hotels & Resorts (NYSE:PK) Price Target Raised to $12.00

Park Hotels & Resorts (NYSE:PK) had its target price raised by Truist Financial from $11.00 to $12.00 in a report issued on Thursday morning,Benzinga reports. The firm currently has a hold rating on the financial services provider’s stock.

A number of other research analysts have also recently commented on the stock. LADENBURG THALM/SH SH assumed coverage on shares of Park Hotels & Resorts in a report on Thursday. They issued a “buy” rating and a $16.00 price target on the stock. Zacks Research upgraded shares of Park Hotels & Resorts from a “strong sell” rating to a “hold” rating in a report on Thursday, February 19th. Wells Fargo & Company lowered their price objective on shares of Park Hotels & Resorts from $11.00 to $10.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 24th. Morgan Stanley set a $10.00 target price on shares of Park Hotels & Resorts in a research note on Friday, January 16th. Finally, Barclays started coverage on shares of Park Hotels & Resorts in a research report on Tuesday, January 6th. They set an “overweight” rating and a $13.00 target price on the stock. Three equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $11.67.

Park Hotels & Resorts Price Performance

Shares of PK stock opened at $10.42 on Thursday. The stock has a 50 day moving average price of $11.05 and a 200 day moving average price of $10.97. Park Hotels & Resorts has a 52-week low of $8.27 and a 52-week high of $12.39. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.34 and a current ratio of 1.34. The firm has a market capitalization of $2.10 billion, a P/E ratio of -7.28 and a beta of 1.40.

Park Hotels & Resorts (NYSE:PK) last announced its quarterly earnings data on Thursday, February 19th. The financial services provider reported ($1.04) EPS for the quarter, missing the consensus estimate of $0.46 by ($1.50). Park Hotels & Resorts had a negative net margin of 11.14% and a negative return on equity of 8.56%. The business had revenue of $629.00 million during the quarter, compared to the consensus estimate of $621.79 million. During the same period last year, the company earned $0.39 EPS. The business’s revenue was up .6% compared to the same quarter last year. Park Hotels & Resorts has set its FY 2026 guidance at 1.730-1.89 EPS. As a group, sell-side analysts predict that Park Hotels & Resorts will post 2.11 earnings per share for the current year.

Park Hotels & Resorts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 9.6%. The ex-dividend date of this dividend is Tuesday, March 31st. Park Hotels & Resorts’s dividend payout ratio (DPR) is -69.93%.

Insider Activity

In related news, Director Christie B. Kelly purchased 2,949 shares of the business’s stock in a transaction dated Wednesday, January 14th. The shares were acquired at an average cost of $11.19 per share, for a total transaction of $32,999.31. Following the acquisition, the director owned 150,501 shares of the company’s stock, valued at $1,684,106.19. The trade was a 2.00% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.50% of the company’s stock.

Institutional Investors Weigh In On Park Hotels & Resorts

A number of institutional investors have recently added to or reduced their stakes in the stock. Donald Smith & CO. Inc. grew its stake in Park Hotels & Resorts by 14.2% in the fourth quarter. Donald Smith & CO. Inc. now owns 14,617,921 shares of the financial services provider’s stock valued at $152,903,000 after purchasing an additional 1,813,338 shares during the last quarter. Bank of America Corp DE lifted its position in shares of Park Hotels & Resorts by 1.6% during the third quarter. Bank of America Corp DE now owns 13,074,474 shares of the financial services provider’s stock valued at $144,865,000 after buying an additional 203,922 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of Park Hotels & Resorts by 76.7% during the second quarter. AQR Capital Management LLC now owns 7,744,912 shares of the financial services provider’s stock valued at $79,230,000 after buying an additional 3,361,382 shares during the last quarter. Sculptor Capital LP boosted its holdings in shares of Park Hotels & Resorts by 154.1% in the 2nd quarter. Sculptor Capital LP now owns 6,534,153 shares of the financial services provider’s stock valued at $66,844,000 after buying an additional 3,962,304 shares in the last quarter. Finally, Allianz Asset Management GmbH boosted its holdings in shares of Park Hotels & Resorts by 29.9% in the 3rd quarter. Allianz Asset Management GmbH now owns 4,447,474 shares of the financial services provider’s stock valued at $49,278,000 after buying an additional 1,023,400 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

Park Hotels & Resorts Company Profile

Park Hotels & Resorts Inc is a publicly traded real estate investment trust (REIT) specializing in luxury and upper-upscale hospitality properties. The company’s primary business activity involves owning and leasing premier hotels and resorts across major urban and resort destinations. Through long-term management and franchise agreements with leading hotel operators, Park generates revenue from room nights, food and beverage offerings, meetings and events, and ancillary services.

Since its spin-off from Hilton Worldwide in January 2017, Park Hotels & Resorts has assembled a diversified portfolio of more than 60 properties.