Park Hotels & Resorts (NYSE:PK) Upgraded to “Hold” by StockNews.com

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

PK has been the topic of a number of other reports. Jefferies Financial Group raised Park Hotels & Resorts from a hold rating to a buy rating and increased their price objective for the company from $14.00 to $21.00 in a report on Tuesday, January 2nd. Wells Fargo & Company increased their price objective on Park Hotels & Resorts from $17.00 to $18.00 and gave the company an equal weight rating in a report on Thursday, March 21st. Barclays increased their price objective on Park Hotels & Resorts from $19.00 to $21.00 and gave the company an overweight rating in a report on Friday, March 1st. UBS Group increased their price objective on Park Hotels & Resorts from $14.00 to $18.00 and gave the company a neutral rating in a report on Wednesday, March 6th. Finally, Citigroup raised Park Hotels & Resorts from a neutral rating to a buy rating and increased their price objective for the company from $14.00 to $20.00 in a report on Friday, March 22nd. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Park Hotels & Resorts presently has a consensus rating of Hold and a consensus price target of $17.58.

Park Hotels & Resorts Trading Down 0.9 %

Park Hotels & Resorts stock opened at $15.98 on Wednesday. The stock has a 50-day moving average of $16.97 and a two-hundred day moving average of $15.52. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.30 and a current ratio of 1.30. Park Hotels & Resorts has a one year low of $11.05 and a one year high of $18.05. The stock has a market cap of $3.36 billion, a PE ratio of 36.32, a price-to-earnings-growth ratio of 0.83 and a beta of 2.02.

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 return on equity of 3.05% and a net margin of 3.42%. The company had revenue of $657.00 million during the quarter, compared to analysts’ expectations of $665.16 million. On average, research analysts anticipate that Park Hotels & Resorts will post 2.06 EPS for the current fiscal year.

Park Hotels & Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be given a $0.25 dividend. The ex-dividend date is Friday, June 28th. This represents a $1.00 annualized dividend and a dividend yield of 6.26%. Park Hotels & Resorts’s dividend payout ratio (DPR) is presently 227.28%.

Hedge Funds Weigh In On Park Hotels & Resorts

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Janney Montgomery Scott LLC lifted its position in shares of Park Hotels & Resorts by 54.0% in the first quarter. Janney Montgomery Scott LLC now owns 15,621 shares of the financial services provider’s stock valued at $273,000 after acquiring an additional 5,479 shares in the last quarter. BNP Paribas Financial Markets lifted its position in Park Hotels & Resorts by 203.2% during the first quarter. BNP Paribas Financial Markets now owns 506,484 shares of the financial services provider’s stock worth $8,858,000 after buying an additional 339,452 shares in the last quarter. Retirement Systems of Alabama lifted its position in Park Hotels & Resorts by 0.3% during the first quarter. Retirement Systems of Alabama now owns 263,688 shares of the financial services provider’s stock worth $4,612,000 after buying an additional 693 shares in the last quarter. Principal Financial Group Inc. lifted its position in Park Hotels & Resorts by 1.9% during the first quarter. Principal Financial Group Inc. now owns 1,269,438 shares of the financial services provider’s stock worth $22,202,000 after buying an additional 23,875 shares in the last quarter. Finally, YHB Investment Advisors Inc. purchased a new position in Park Hotels & Resorts during the first quarter worth approximately $40,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Park Hotels & Resorts Company Profile

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.