Park is the second largest publicly traded lodging REIT with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value. Park's portfolio currently consists of 60 premium-branded hotels and resorts with over 33,000 rooms primarily located in prime city center and resort locations.
Park Hotels & Resorts Stock Performance
Shares of Park Hotels & Resorts stock remained flat at $15.05 on Friday. The stock had a trading volume of 3,656,197 shares, compared to its average volume of 2,896,739. Park Hotels & Resorts has a fifty-two week low of $12.90 and a fifty-two week high of $21.62. The company has a current ratio of 3.26, a quick ratio of 3.02 and a debt-to-equity ratio of 1.09. The firm has a market cap of $3.51 billion, a PE ratio of -68.41 and a beta of 1.94. The business has a 50-day moving average price of $15.23 and a 200 day moving average price of $17.44.
Park Hotels & Resorts Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 15th. Shareholders of record on Thursday, June 30th were given a dividend of $0.01 per share. The ex-dividend date was Wednesday, June 29th. This represents a $0.04 dividend on an annualized basis and a yield of 0.27%. Park Hotels & Resorts's payout ratio is -18.18%.
Analysts Set New Price Targets
A number of research firms have commented on PK. Deutsche Bank Aktiengesellschaft lifted their target price on Park Hotels & Resorts from $26.00 to $28.00 in a research report on Tuesday, May 3rd. Evercore ISI restated an "in-line" rating and issued a $22.50 target price on shares of Park Hotels & Resorts in a research report on Monday, July 11th. StockNews.com upgraded Park Hotels & Resorts from a "sell" rating to a "hold" rating in a research report on Friday. Truist Financial raised Park Hotels & Resorts from a "hold" rating to a "buy" rating and lifted their price objective for the company from $19.00 to $22.00 in a research note on Wednesday, June 1st. Finally, Barclays dropped their price objective on Park Hotels & Resorts from $22.00 to $18.00 and set an "equal weight" rating for the company in a research note on Thursday, July 7th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, Park Hotels & Resorts presently has a consensus rating of "Hold" and an average price target of $21.44.
Insider Activity at Park Hotels & Resorts
In other news, Director Thomas D. Eckert acquired 10,000 shares of the stock in a transaction that occurred on Tuesday, June 14th. The shares were purchased at an average cost of $15.12 per share, for a total transaction of $151,200.00. Following the transaction, the director now directly owns 96,637 shares in the company, valued at approximately $1,461,151.44. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.09% of the stock is currently owned by insiders.