Park Hotels & Resorts (NYSE:PK) Downgraded to “Sell” at StockNews.com

StockNews.com cut shares of Park Hotels & Resorts (NYSE:PK) from a hold rating to a sell rating in a research report sent to investors on Monday.

Other equities analysts have also issued reports about the company. Wolfe Research lowered Park Hotels & Resorts from an “outperform” rating to a “peer perform” rating in a research note on Thursday, September 26th. Evercore ISI cut 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 report on Tuesday, August 13th. Wells Fargo & Company decreased their price target on shares of 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. Truist Financial dropped their price objective on shares of Park Hotels & Resorts from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Wednesday, September 4th. Finally, UBS Group lowered their price target on shares of Park Hotels & Resorts from $18.00 to $14.00 and set a “neutral” rating for the company in a report on Friday, August 16th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Park Hotels & Resorts has an average rating of “Hold” and an average price target of $17.05.

Park Hotels & Resorts Trading Down 1.0 %

Shares of PK opened at $14.10 on Monday. The firm has a market cap of $2.97 billion, a P/E ratio of 32.05, a price-to-earnings-growth ratio of 0.69 and a beta of 2.02. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.58 and a quick ratio of 1.58. Park Hotels & Resorts has a 1 year low of $11.05 and a 1 year high of $18.05. The company has a 50 day simple moving average of $14.48 and a two-hundred day simple moving average of $15.18.

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

Park Hotels & Resorts Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 7.09%. The ex-dividend date was Monday, September 30th. Park Hotels & Resorts’s dividend payout ratio is currently 227.27%.

Hedge Funds Weigh In On Park Hotels & Resorts

Hedge funds have recently bought and sold shares of the business. Claro Advisors LLC purchased a new stake in Park Hotels & Resorts in the 3rd quarter valued at about $69,000. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Park Hotels & Resorts by 19.6% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 42,708 shares of the financial services provider’s stock worth $602,000 after acquiring an additional 6,986 shares during the period. Bfsg LLC raised its stake in shares of Park Hotels & Resorts by 8.7% during the third quarter. Bfsg LLC now owns 15,440 shares of the financial services provider’s stock valued at $218,000 after acquiring an additional 1,235 shares in the last quarter. Creative Planning boosted its holdings in shares of Park Hotels & Resorts by 1,068.6% in the third quarter. Creative Planning now owns 306,061 shares of the financial services provider’s stock valued at $4,315,000 after purchasing an additional 279,871 shares during the period. Finally, Sound Income Strategies LLC grew its stake in Park Hotels & Resorts by 11.7% in the third quarter. Sound Income Strategies LLC now owns 882,287 shares of the financial services provider’s stock worth $12,440,000 after purchasing an additional 92,533 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

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.