Park Hotels & Resorts (NYSE:PK – Free Report) had its price target decreased by Truist Financial from $20.00 to $18.00 in a report released on Wednesday, Benzinga reports. Truist Financial currently has a buy rating on the financial services provider’s stock.
A number of other equities analysts also recently commented on the stock. Barclays lifted their price objective on shares of Park Hotels & Resorts from $21.00 to $22.00 and gave the stock an overweight rating in a report on Friday, May 24th. UBS Group decreased their price target on shares of Park Hotels & Resorts from $18.00 to $14.00 and set a neutral rating for the company in a report on Friday, August 16th. Evercore ISI lowered their price objective on shares of Park Hotels & Resorts from $20.00 to $19.00 and set an outperform rating for the company in a research report on Tuesday, August 13th. Finally, Wedbush reissued a neutral rating and issued a $17.00 target price on shares of Park Hotels & Resorts in a report on Tuesday, May 28th. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of Hold and a consensus price target of $17.25.
Check Out Our Latest Research Report on PK
Park Hotels & Resorts Stock Performance
Park Hotels & Resorts (NYSE:PK – Get Free Report) last announced its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.30). The firm had revenue of $686.00 million for the quarter, compared to analyst estimates of $694.94 million. Park Hotels & Resorts had a net margin of 11.50% and a return on equity of 8.77%. Equities analysts forecast that Park Hotels & Resorts will post 2.1 earnings per share for the current fiscal year.
Park Hotels & Resorts Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 7.08%. The ex-dividend date is Monday, September 30th. Park Hotels & Resorts’s dividend payout ratio (DPR) is 227.27%.
Institutional Trading of Park Hotels & Resorts
Several hedge funds have recently added to or reduced their stakes in PK. Sanctuary Advisors LLC acquired a new position in shares of Park Hotels & Resorts during the second quarter valued at $204,000. Truist Financial Corp increased its stake in Park Hotels & Resorts by 129.1% during the 2nd quarter. Truist Financial Corp now owns 53,318 shares of the financial services provider’s stock valued at $799,000 after buying an additional 30,043 shares during the period. Quarry LP increased its stake in Park Hotels & Resorts by 82.1% during the 2nd quarter. Quarry LP now owns 4,118 shares of the financial services provider’s stock valued at $62,000 after buying an additional 1,857 shares during the period. Creative Planning raised its position in shares of Park Hotels & Resorts by 39.0% during the 2nd quarter. Creative Planning now owns 26,190 shares of the financial services provider’s stock worth $392,000 after buying an additional 7,348 shares in the last quarter. Finally, Algert Global LLC lifted its stake in shares of Park Hotels & Resorts by 48.6% in the 2nd quarter. Algert Global LLC now owns 752,273 shares of the financial services provider’s stock worth $11,269,000 after acquiring an additional 245,973 shares during the period. 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.
Featured Articles
- Five stocks we like better than Park Hotels & Resorts
- Roth IRA Calculator: Calculate Your Potential Returns
- Is Merck Stock Undervalued After Its Colossal Earnings Growth?
- What Are the U.K. Market Holidays? How to Invest and Trade
- Top 5 ETFs for Every Investor: From Semiconductors to Defense
- How to Calculate Return on Investment (ROI)
- Blade Air Mobility: This Under-the-Radar Stock Could Double Soon
Receive News & Ratings for Park Hotels & Resorts Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Park Hotels & Resorts and related companies with MarketBeat.com's FREE daily email newsletter.