Park Hotels & Resorts Inc. Plans Quarterly Dividend of $0.25 (NYSE:PK)

Park Hotels & Resorts Inc. (NYSE:PK) announced a quarterly dividend on Friday, July 26th, Zacks reports. Shareholders of record on Monday, September 30th will be paid a dividend of 0.25 per share by the financial services provider on Tuesday, October 15th. This represents a $1.00 annualized dividend and a yield of 6.75%. The ex-dividend date of this dividend is Monday, September 30th.

Park Hotels & Resorts has raised its dividend by an average of 10.1% annually over the last three years. Park Hotels & Resorts has a dividend payout ratio of 112.4% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Park Hotels & Resorts to earn $2.20 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 45.5%.

Park Hotels & Resorts Trading Up 0.3 %

PK opened at $14.81 on Friday. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 1.23. The firm has a market cap of $3.09 billion, a price-to-earnings ratio of 33.66, a PEG ratio of 0.73 and a beta of 2.02. Park Hotels & Resorts has a 12 month low of $11.05 and a 12 month high of $18.05. The stock has a fifty day moving average price of $14.56 and a 200-day moving average price of $15.49.

Park Hotels & Resorts (NYSE:PK) last announced its earnings results on Wednesday, July 31st. The financial services provider reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.30). Park Hotels & Resorts had a return on equity of 8.77% and a net margin of 11.50%. The firm had revenue of $686.00 million during the quarter, compared to the consensus estimate of $694.94 million. As a group, equities research analysts anticipate that Park Hotels & Resorts will post 2.11 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have weighed in on PK shares. Evercore ISI lowered their target price on shares of Park Hotels & Resorts from $20.00 to $19.00 and set an “outperform” rating for the company in a research note on Tuesday, August 13th. Truist Financial dropped their target price on Park Hotels & Resorts from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Wednesday, September 4th. Wolfe Research cut Park Hotels & Resorts from an “outperform” rating to a “peer perform” rating in a research note on Thursday. Wells Fargo & Company dropped their price target on Park Hotels & Resorts from $17.00 to $14.50 and set an “equal weight” rating on the stock in a research note on Friday, September 13th. Finally, UBS Group decreased their price objective on shares of Park Hotels & Resorts from $18.00 to $14.00 and set a “neutral” rating for the company in a research report on Friday, August 16th. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $17.05.

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.