Park Hotels & Resorts (NYSE:PK) Reaches New 1-Year High Following Analyst Upgrade

Park Hotels & Resorts Inc. (NYSE:PK) shares hit a new 52-week high on Tuesday after JPMorgan Chase & Co. raised their price target on the stock from $11.00 to $13.00. JPMorgan Chase & Co. currently has an underweight rating on the stock. Park Hotels & Resorts traded as high as $15.02 and last traded at $14.8350, with a volume of 2842948 shares changing hands. The stock had previously closed at $14.88.

Several other brokerages also recently commented on PK. Cantor Fitzgerald reiterated a “neutral” rating and set a $12.00 target price on shares of Park Hotels & Resorts in a research note on Wednesday, May 13th. Weiss Ratings raised Park Hotels & Resorts from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, May 20th. BMO Capital Markets reiterated a “market perform” rating and issued a $14.00 price objective on shares of Park Hotels & Resorts in a report on Friday, June 12th. Barclays boosted their target price on Park Hotels & Resorts from $9.00 to $12.00 and gave the stock an “equal weight” rating in a research report on Monday, June 1st. Finally, Truist Financial raised their price target on shares of Park Hotels & Resorts from $12.00 to $13.00 and gave the company a “hold” rating in a report on Tuesday, May 26th. One equities research analyst has rated the stock with a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Park Hotels & Resorts presently has a consensus rating of “Reduce” and an average price target of $13.18.

Hedge Funds Weigh In On Park Hotels & Resorts

Institutional investors and hedge funds have recently made changes to their positions in the business. Danske Bank A S purchased a new position in Park Hotels & Resorts during the third quarter valued at $25,000. Fifth Third Bancorp lifted its position in shares of Park Hotels & Resorts by 68.8% in the first quarter. Fifth Third Bancorp now owns 2,604 shares of the financial services provider’s stock worth $27,000 after buying an additional 1,061 shares in the last quarter. Advisory Services Network LLC bought a new stake in shares of Park Hotels & Resorts in the 3rd quarter worth about $34,000. Harbor Capital Advisors Inc. raised its position in shares of Park Hotels & Resorts by 293.1% during the 4th quarter. Harbor Capital Advisors Inc. now owns 5,181 shares of the financial services provider’s stock valued at $54,000 after buying an additional 3,863 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Park Hotels & Resorts by 33.4% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,844 shares of the financial services provider’s stock valued at $61,000 after acquiring an additional 1,464 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Park Hotels & Resorts Trading Up 0.0%

The company has a debt-to-equity ratio of 1.27, a current ratio of 1.25 and a quick ratio of 1.25. The company has a market cap of $3.03 billion, a PE ratio of -13.82, a price-to-earnings-growth ratio of 2.01 and a beta of 1.33. The company has a 50-day moving average of $13.66 and a 200 day moving average of $11.97.

Park Hotels & Resorts (NYSE:PK) last released its earnings results on Thursday, April 30th. The financial services provider reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.33). Park Hotels & Resorts had a negative return on equity of 6.71% and a negative net margin of 8.49%.The firm had revenue of $622.00 million during the quarter, compared to the consensus estimate of $609.77 million. During the same quarter last year, the business posted $0.46 EPS. Park Hotels & Resorts’s revenue was down 1.3% compared to the same quarter last year. Park Hotels & Resorts has set its FY 2026 guidance at 1.740-1.900 EPS. Analysts predict that Park Hotels & Resorts Inc. will post 1.77 earnings per share for the current year.

Park Hotels & Resorts Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were issued a dividend of $0.25 per share. The ex-dividend date was Tuesday, June 30th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.6%. Park Hotels & Resorts’s dividend payout ratio (DPR) is currently -91.74%.

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.