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

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.

Park Hotels & Resorts Inc. (NYSE:PK - Get Free Report) has been given an average rating of "Hold" by the eleven analysts that are presently covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and two have given a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $12.20.

Several analysts have issued reports on PK shares. Morgan Stanley reiterated an "outperform" rating on shares of Park Hotels & Resorts in a research note on Tuesday, July 15th. Citigroup downgraded shares of Park Hotels & Resorts from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $13.00 to $12.00 in a research report on Tuesday, September 9th. Wells Fargo & Company increased their price objective on shares of Park Hotels & Resorts from $11.00 to $12.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 27th. JPMorgan Chase & Co. initiated coverage on shares of Park Hotels & Resorts in a research note on Monday, June 23rd. They issued an "underweight" rating and a $10.00 price target on the stock. Finally, Wall Street Zen cut shares of Park Hotels & Resorts from a "hold" rating to a "sell" rating in a report on Friday, July 18th.

Park Hotels & Resorts Trading Down 1.1%

PK traded down $0.13 during trading on Monday, reaching $12.00. 4,622,002 shares of the stock traded hands, compared to its average volume of 3,213,676. The stock's 50-day moving average is $11.28 and its 200 day moving average is $10.77. Park Hotels & Resorts has a 12 month low of $8.27 and a 12 month high of $16.23. The stock has a market capitalization of $2.40 billion, a PE ratio of 44.45 and a beta of 1.80. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.35.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The financial services provider reported $0.64 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $672.37 million. During the same quarter in the prior year, the business earned $0.65 earnings per share. The business's quarterly revenue was down 2.0% compared to the same quarter last year. Park Hotels & Resorts has set its FY 2025 guidance at 1.820-2.080 EPS. Equities analysts anticipate that Park Hotels & Resorts will post 2.11 earnings per share for the current year.

Park Hotels & Resorts Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 8.3%. The ex-dividend date is Tuesday, September 30th. Park Hotels & Resorts's payout ratio is currently 370.37%.

Institutional Investors Weigh In On Park Hotels & Resorts

A number of large investors have recently modified their holdings of PK. Sculptor Capital LP raised its stake in Park Hotels & Resorts by 154.1% in the 2nd quarter. Sculptor Capital LP now owns 6,534,153 shares of the financial services provider's stock valued at $66,844,000 after purchasing an additional 3,962,304 shares during the last quarter. AQR Capital Management LLC raised its position in shares of Park Hotels & Resorts by 76.7% in the 2nd quarter. AQR Capital Management LLC now owns 7,744,912 shares of the financial services provider's stock valued at $79,230,000 after purchasing an additional 3,361,382 shares in the last quarter. Bank of America Corp DE raised its position in shares of Park Hotels & Resorts by 34.6% in the 2nd quarter. Bank of America Corp DE now owns 12,870,552 shares of the financial services provider's stock valued at $131,666,000 after purchasing an additional 3,309,275 shares in the last quarter. Donald Smith & CO. Inc. raised its position in shares of Park Hotels & Resorts by 25.8% in the 1st quarter. Donald Smith & CO. Inc. now owns 11,577,320 shares of the financial services provider's stock valued at $123,646,000 after purchasing an additional 2,377,195 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its position in shares of Park Hotels & Resorts by 47.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,933,080 shares of the financial services provider's stock valued at $30,032,000 after acquiring an additional 948,128 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company's stock.

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.