Park Hotels & Resorts (PK) Given New $30.00 Price Target at Nomura
Park Hotels & Resorts (NYSE:PK) had its price objective decreased by Nomura from $33.00 to $30.00 in a research report released on Thursday morning. Nomura currently has a buy rating on the financial services provider’s stock.
Several other research firms have also weighed in on PK. Boenning Scattergood reissued a buy rating on shares of Park Hotels & Resorts in a research note on Monday, November 6th. Evercore ISI raised Park Hotels & Resorts from an in-line rating to an outperform rating in a research note on Monday, December 4th. Citigroup began coverage on Park Hotels & Resorts in a research report on Tuesday, February 27th. They issued a neutral rating and a $27.50 target price for the company. SunTrust Banks raised Park Hotels & Resorts from a hold rating to a buy rating in a research report on Thursday, December 21st. Finally, Deutsche Bank raised their target price on Park Hotels & Resorts from $29.00 to $30.00 and gave the stock a hold rating in a research report on Friday, February 9th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. Park Hotels & Resorts has a consensus rating of Hold and an average price target of $36.41.
Shares of Park Hotels & Resorts (NYSE PK) opened at $24.42 on Thursday. The firm has a market capitalization of $5,253.52, a price-to-earnings ratio of 8.75, a PEG ratio of 1.59 and a beta of 0.69. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.26 and a current ratio of 1.26. Park Hotels & Resorts has a one year low of $24.23 and a one year high of $29.93.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Stockholders of record on Friday, March 30th will be given a $0.43 dividend. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $1.72 annualized dividend and a dividend yield of 7.04%. Park Hotels & Resorts’s dividend payout ratio (DPR) is presently 17.89%.
Several institutional investors have recently modified their holdings of the company. BlackRock Inc. boosted its position in shares of Park Hotels & Resorts by 8.2% in the fourth quarter. BlackRock Inc. now owns 11,551,209 shares of the financial services provider’s stock worth $332,098,000 after buying an additional 879,218 shares during the period. Cohen & Steers Inc. raised its holdings in shares of Park Hotels & Resorts by 0.8% during the third quarter. Cohen & Steers Inc. now owns 7,496,035 shares of the financial services provider’s stock worth $206,591,000 after acquiring an additional 57,774 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Park Hotels & Resorts by 18.6% during the third quarter. JPMorgan Chase & Co. now owns 6,507,881 shares of the financial services provider’s stock worth $179,554,000 after acquiring an additional 1,019,139 shares in the last quarter. Zimmer Partners LP purchased a new stake in shares of Park Hotels & Resorts during the fourth quarter worth $180,234,000. Finally, Bank of New York Mellon Corp raised its holdings in shares of Park Hotels & Resorts by 453.5% during the fourth quarter. Bank of New York Mellon Corp now owns 3,840,374 shares of the financial services provider’s stock worth $110,411,000 after acquiring an additional 3,146,572 shares in the last quarter.
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About Park Hotels & Resorts
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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