Park Hotels & Resorts (NYSE:PK) Lowered to Sell at StockNews.com

StockNews.com cut shares of Park Hotels & Resorts (NYSE:PK) from a hold rating to a sell rating in a research note released on Tuesday morning.

Other equities research analysts have also recently issued reports about the stock. Citigroup upgraded shares of Park Hotels & Resorts from a neutral rating to a buy rating and upped their price target for the company from $14.00 to $20.00 in a report on Friday, March 22nd. Wells Fargo & Company increased their target price on Park Hotels & Resorts from $17.00 to $18.00 and gave the company an equal weight rating in a research note on Thursday, March 21st. UBS Group lifted their price target on Park Hotels & Resorts from $14.00 to $18.00 and gave the stock a neutral rating in a research report on Wednesday, March 6th. Jefferies Financial Group upgraded Park Hotels & Resorts from a hold rating to a buy rating and upped their price target for the stock from $14.00 to $21.00 in a report on Tuesday, January 2nd. Finally, Truist Financial raised their price objective on shares of Park Hotels & Resorts from $20.00 to $21.00 and gave the stock a buy rating in a research note on Thursday, March 14th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of Hold and a consensus price target of $17.58.

Park Hotels & Resorts Stock Up 2.3 %

Shares of PK stock opened at $16.73 on Tuesday. The stock’s 50 day simple moving average is $16.82 and its 200 day simple moving average is $15.36. Park Hotels & Resorts has a twelve month low of $11.05 and a twelve month high of $18.05. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.30 and a current ratio of 1.30. The company has a market capitalization of $3.52 billion, a price-to-earnings ratio of 36.37, a PEG ratio of 0.61 and a beta of 2.03.

Park Hotels & Resorts (NYSE:PK) last released its quarterly earnings results on Tuesday, February 27th. The financial services provider reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.39. Park Hotels & Resorts had a net margin of 3.60% and a return on equity of 2.44%. The company had revenue of $657.00 million for the quarter, compared to analyst estimates of $665.16 million. As a group, research analysts predict that Park Hotels & Resorts will post 2.06 EPS for the current year.

Park Hotels & Resorts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.00 dividend on an annualized basis and a yield of 5.98%. Park Hotels & Resorts’s payout ratio is currently 217.39%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PK. Raleigh Capital Management Inc. bought a new stake in Park Hotels & Resorts during the fourth quarter worth about $35,000. FNY Investment Advisers LLC bought a new position in shares of Park Hotels & Resorts in the fourth quarter worth about $42,000. Spire Wealth Management raised its stake in shares of Park Hotels & Resorts by 20.1% in the third quarter. Spire Wealth Management now owns 5,145 shares of the financial services provider’s stock worth $63,000 after acquiring an additional 860 shares during the last quarter. Covestor Ltd lifted its position in shares of Park Hotels & Resorts by 31.5% during the third quarter. Covestor Ltd now owns 5,596 shares of the financial services provider’s stock worth $69,000 after purchasing an additional 1,340 shares in the last quarter. Finally, Signaturefd LLC grew its stake in shares of Park Hotels & Resorts by 12.7% during the fourth quarter. Signaturefd LLC now owns 6,437 shares of the financial services provider’s stock valued at $98,000 after purchasing an additional 727 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

About Park Hotels & Resorts

Park is one of the largest publicly traded lodging REITs with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value. Park's portfolio currently consists of 43 premium-branded hotels and resorts with over 26,000 rooms primarily located in prime city center and resort locations.