Park Hotels & Resorts (NYSE:PK) Sets New 52-Week High - Here's What Happened

Key Points

• Park Hotels & Resorts hit a new 52-week high, trading as high as $14.95 and closing around $14.82, up about 1.2% on the day.
• Several analysts raised price targets recently, including Barclays to $12 and Wells Fargo to $15, though the overall consensus remains cautious with an average rating of “Reduce” and a target of $12.95.
• The company recently posted mixed earnings, missing EPS estimates but beating revenue expectations, and it also declared a quarterly dividend of $0.25 per share, implying a 6.8% annualized yield.

Park Hotels & Resorts Inc. (NYSE:PK - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $14.95 and last traded at $14.8190, with a volume of 351318 shares. The stock had previously closed at $14.48.

Analysts Set New Price Targets

Several equities research analysts have weighed in on PK shares. Weiss Ratings raised shares of Park Hotels & Resorts from a "sell (d)" rating to a "sell (d+)" rating in a research note on Wednesday, May 20th. Barclays raised their target price on Park Hotels & Resorts from $9.00 to $12.00 and gave the company an "equal weight" rating in a research note on Monday, June 1st. Wells Fargo & Company increased their target price on Park Hotels & Resorts from $12.00 to $15.00 and gave the stock an "equal weight" rating in a report on Thursday, June 18th. Morgan Stanley boosted their price objective on Park Hotels & Resorts from $10.00 to $10.50 and gave the stock an "equal weight" rating in a report on Tuesday, May 12th. Finally, Truist Financial raised their target price on Park Hotels & Resorts from $12.00 to $13.00 and gave the company a "hold" rating in a report on Tuesday, May 26th. One analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Reduce" and a consensus target price of $12.95.

Park Hotels & Resorts Stock Up 1.2%

The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.27. The firm has a market capitalization of $2.95 billion, a P/E ratio of -13.44, a P/E/G ratio of 1.90 and a beta of 1.33. The stock's 50-day simple moving average is $13.21 and its 200-day simple moving average is $11.80.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last announced its earnings results on Thursday, April 30th. The financial services provider reported $0.05 earnings per share for the quarter, missing analysts' consensus estimates of $0.38 by ($0.33). The business had revenue of $622.00 million during the quarter, compared to analysts' expectations of $609.77 million. Park Hotels & Resorts had a negative return on equity of 6.71% and a negative net margin of 8.49%.Park Hotels & Resorts's quarterly revenue was down 1.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.46 EPS. Park Hotels & Resorts has set its FY 2026 guidance at 1.740-1.900 EPS. As a group, research analysts predict that Park Hotels & Resorts Inc. will post 1.76 earnings per share for the current fiscal year.

Park Hotels & Resorts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, June 30th. This represents a $1.00 annualized dividend and a yield of 6.8%. Park Hotels & Resorts's dividend payout ratio is presently -91.74%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of PK. JPMorgan Chase & Co. grew its holdings in Park Hotels & Resorts by 21.2% during the third quarter. JPMorgan Chase & Co. now owns 3,634,643 shares of the financial services provider's stock valued at $40,272,000 after purchasing an additional 636,049 shares during the period. SG Americas Securities LLC lifted its position in shares of Park Hotels & Resorts by 223.9% during the 4th quarter. SG Americas Securities LLC now owns 762,261 shares of the financial services provider's stock valued at $7,973,000 after buying an additional 526,901 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of Park Hotels & Resorts by 106.9% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 191,712 shares of the financial services provider's stock valued at $2,005,000 after buying an additional 99,051 shares during the last quarter. Donald Smith & CO. Inc. grew its stake in shares of Park Hotels & Resorts by 14.2% during the 4th quarter. Donald Smith & CO. Inc. now owns 14,617,921 shares of the financial services provider's stock worth $152,903,000 after acquiring an additional 1,813,338 shares during the period. Finally, Tudor Investment Corp ET AL bought a new position in shares of Park Hotels & Resorts during the 3rd quarter worth $950,000. 92.69% of the stock is owned by institutional investors.

About Park Hotels & Resorts

Park Hotels & Resorts Inc is a publicly traded real estate investment trust (REIT) specializing in luxury and upper-upscale hospitality properties. The company's primary business activity involves owning and leasing premier hotels and resorts across major urban and resort destinations. Through long-term management and franchise agreements with leading hotel operators, Park generates revenue from room nights, food and beverage offerings, meetings and events, and ancillary services.

Since its spin-off from Hilton Worldwide in January 2017, Park Hotels & Resorts has assembled a diversified portfolio of more than 60 properties.

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