Park Hotels & Resorts Inc. (NYSE:PK) Receives Consensus Recommendation of "Hold" from Analysts

Key Points

• Park Hotels & Resorts has received a consensus recommendation of "Hold" from eleven research firms, with price targets ranging from $10.00 to $12.20.
• The company recently announced a quarterly dividend of $0.25, resulting in an 8.4% dividend yield, despite having a high payout ratio of 370.37%.
• Hedge funds have shown increased interest, with significant holdings by institutions like Bank of America and AQR Capital Management, boosting their positions by up to 154.1% recently.

Shares of Park Hotels & Resorts Inc. (NYSE:PK - Get Free Report) have received a consensus recommendation of "Hold" from the eleven research firms that are covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and two have given a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $12.20.

Several equities research analysts have issued reports on the stock. Citigroup cut shares of Park Hotels & Resorts from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $13.00 to $12.00 in a research note on Tuesday, September 9th. Truist Financial cut shares of Park Hotels & Resorts from a "buy" rating to a "hold" rating and decreased their price target for the stock from $16.00 to $11.00 in a research note on Friday, May 30th. JPMorgan Chase & Co. assumed coverage on shares of Park Hotels & Resorts in a research note on Monday, June 23rd. They set an "underweight" rating and a $10.00 price target on the stock. Wells Fargo & Company raised their price target on shares of Park Hotels & Resorts from $11.00 to $12.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 27th. Finally, Morgan Stanley reaffirmed an "outperform" rating on shares of Park Hotels & Resorts in a research note on Tuesday, July 15th.

Institutional Investors Weigh In On Park Hotels & Resorts

Several hedge funds have recently modified their holdings of the stock. Bank of America Corp DE boosted its position in shares of Park Hotels & Resorts by 34.6% in the second quarter. Bank of America Corp DE now owns 12,870,552 shares of the financial services provider's stock worth $131,666,000 after acquiring an additional 3,309,275 shares during the last quarter. Donald Smith & CO. Inc. boosted its position in shares of Park Hotels & Resorts by 4.0% in the second quarter. Donald Smith & CO. Inc. now owns 12,044,177 shares of the financial services provider's stock worth $123,212,000 after acquiring an additional 466,857 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of Park Hotels & Resorts by 76.7% in the second quarter. AQR Capital Management LLC now owns 7,744,912 shares of the financial services provider's stock worth $79,230,000 after acquiring an additional 3,361,382 shares during the last quarter. Sculptor Capital LP boosted its position in shares of Park Hotels & Resorts by 154.1% in the second quarter. Sculptor Capital LP now owns 6,534,153 shares of the financial services provider's stock worth $66,844,000 after acquiring an additional 3,962,304 shares during the last quarter. Finally, H 2 Credit Manager LP boosted its position in shares of Park Hotels & Resorts by 13.9% in the first quarter. H 2 Credit Manager LP now owns 3,903,750 shares of the financial services provider's stock worth $41,692,000 after acquiring an additional 475,000 shares during the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

Park Hotels & Resorts Price Performance

Shares of NYSE PK opened at $11.96 on Monday. The stock has a market cap of $2.39 billion, a price-to-earnings ratio of 44.28 and a beta of 1.80. Park Hotels & Resorts has a 52 week low of $8.27 and a 52 week high of $16.23. The company's 50-day moving average price is $11.17 and its 200 day moving average price is $10.75. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.35.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The financial services provider reported $0.64 EPS for the quarter, beating analysts' consensus estimates of $0.57 by $0.07. Park Hotels & Resorts had a net margin of 2.25% and a return on equity of 0.76%. The firm had revenue of $672.00 million for the quarter, compared to analysts' expectations of $672.37 million. During the same period in the prior year, the company earned $0.65 EPS. The firm's revenue was down 2.0% on a year-over-year basis. Park Hotels & Resorts has set its FY 2025 guidance at 1.820-2.080 EPS. As a group, research analysts forecast that Park Hotels & Resorts will post 2.11 earnings per share for the current fiscal year.

Park Hotels & Resorts Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be given a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $1.00 annualized dividend and a dividend yield of 8.4%. Park Hotels & Resorts's dividend payout ratio (DPR) is currently 370.37%.

Park Hotels & Resorts Company Profile

Park Hotels & Resorts, Inc operates as a real estate investment trust, which owns and operates hotels and resorts. It operates through the Consolidated Hotels and Unconsolidated Hotels segments. Its portfolio of hotels and resorts include the Waldorf Astoria Hotels and Resorts, Conrad Hotels & Resorts, Hilton Hotels & Resorts, DoubleTree by Hilton, Embassy Suites by Hilton, Hilton Garden Inn, Hampton by Hilton, and Curio.

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