Park Hotels & Resorts Inc. (NYSE:PK) to Issue $0.25 Quarterly Dividend

Park Hotels & Resorts Inc. (NYSE:PK) announced a quarterly dividend on Thursday, October 23rd. Shareholders of record on Wednesday, December 31st will be given a dividend of 0.25 per share by the financial services provider on Thursday, January 15th. This represents a c) annualized dividend and a yield of 9.2%. The ex-dividend date is Wednesday, December 31st.

Park Hotels & Resorts has decreased its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend every year for the last 1 years. Park Hotels & Resorts has a payout ratio of 172.4% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Park Hotels & Resorts to earn $2.21 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 45.2%.

Park Hotels & Resorts Stock Performance

Shares of PK opened at $10.86 on Monday. The business’s 50 day moving average is $10.67 and its two-hundred day moving average is $10.92. Park Hotels & Resorts has a 52-week low of $8.27 and a 52-week high of $15.10. The firm has a market cap of $2.17 billion, a price-to-earnings ratio of -155.07 and a beta of 1.45. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.37.

Park Hotels & Resorts (NYSE:PK) last released its quarterly earnings results on Thursday, October 30th. The financial services provider reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.08). The company had revenue of $610.00 million for the quarter, compared to analyst estimates of $617.05 million. Park Hotels & Resorts had a negative return on equity of 1.25% and a negative net margin of 0.47%.The firm’s quarterly revenue was down 6.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.49 EPS. Park Hotels & Resorts has set its FY 2025 guidance at 1.850-1.970 EPS. Analysts forecast that Park Hotels & Resorts will post 2.11 EPS for the current fiscal year.

About Park Hotels & Resorts

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.