Zacks Investment Research upgraded shares of Park Hotels & Resorts Inc. (NYSE:PK) from a hold rating to a buy rating in a research note issued to investors on Tuesday. The brokerage currently has $30.00 price target on the financial services provider’s stock.

According to Zacks, “Park Hotels & Resorts Inc. is a lodging Real Estate Company. The company operates luxury hotels and resorts in USA and international market. Park Hotels & Resorts Inc. is based in Mc Lean, Virginia. “

Other research analysts have also issued reports about the stock. Deutsche Bank AG initiated coverage on shares of Park Hotels & Resorts in a research report on Wednesday, April 12th. They set a hold rating and a $28.00 price target on the stock. Jefferies Group LLC raised their price target on shares of Park Hotels & Resorts from $58.00 to $69.00 and gave the company a hold rating in a research report on Tuesday, June 20th. Cowen and Company raised their price target on shares of Park Hotels & Resorts from $61.00 to $70.00 and gave the company a market perform rating in a research report on Tuesday, June 20th. UBS AG initiated coverage on shares of Park Hotels & Resorts in a research report on Wednesday, April 26th. They set a neutral rating on the stock. Finally, Susquehanna Bancshares Inc initiated coverage on shares of Park Hotels & Resorts in a research report on Wednesday, April 26th. They set a neutral rating and a $28.00 price target on the stock. Nine investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $34.93.

Shares of Park Hotels & Resorts (NYSE:PK) opened at 26.83 on Tuesday. The stock has a 50 day moving average of $26.60 and a 200-day moving average of $26.67. Park Hotels & Resorts has a one year low of $24.65 and a one year high of $33.40. The company has a market capitalization of $5.76 billion and a PE ratio of 2.34.

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The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 17th. Shareholders of record on Friday, June 30th will be given a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 6.41%. The ex-dividend date of this dividend is Wednesday, June 28th.

In other Park Hotels & Resorts news, major shareholder Hlt Holdco Iii Prime Llc sold 15,000,000 shares of Park Hotels & Resorts stock in a transaction dated Wednesday, June 7th. The shares were sold at an average price of $26.05, for a total value of $390,750,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.25% of the company’s stock.

A number of hedge funds have recently made changes to their positions in PK. Cascade Investment Advisors Inc. raised its stake in shares of Park Hotels & Resorts by 24.8% in the second quarter. Cascade Investment Advisors Inc. now owns 28,358 shares of the financial services provider’s stock valued at $765,000 after buying an additional 5,637 shares in the last quarter. State of Alaska Department of Revenue bought a new stake in shares of Park Hotels & Resorts during the second quarter valued at approximately $1,690,000. Finally, Adelante Capital Management LLC bought a new stake in shares of Park Hotels & Resorts during the first quarter valued at approximately $2,106,000. 97.00% of the stock is currently owned by institutional investors and hedge funds.

Park Hotels & Resorts Company Profile

Park Hotels & Resorts Inc is a lodging real estate company. The Company has a portfolio of hotels and resorts. The Company operates through ownership segment, which includes all of its hotel properties. As of December 31, 2016, the Company’s portfolio consisted of 67 hotels and resorts with over 35,000 rooms located in the United States and international markets.

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Analyst Recommendations for Park Hotels & Resorts (NYSE:PK)

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