Park Hotels & Resorts (NYSE:PK) Reaches New 52-Week Low After Analyst Downgrade

Park Hotels & Resorts Inc. (NYSE:PK)’s stock price reached a new 52-week low on Monday after UBS Group lowered their price target on the stock from $15.00 to $13.00. UBS Group currently has a neutral rating on the stock. Park Hotels & Resorts traded as low as $13.02 and last traded at $12.85, with a volume of 13315 shares traded. The stock had previously closed at $13.49.

A number of other brokerages have also weighed in on PK. Jefferies Financial Group decreased their price objective on shares of Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. Wells Fargo & Company lifted their price target on shares of Park Hotels & Resorts from $16.00 to $17.00 and gave the company an “equal weight” rating in a research note on Monday, December 9th. Compass Point lowered their price target on Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Bank of America reduced their price objective on Park Hotels & Resorts from $17.00 to $16.50 and set a “neutral” rating on the stock in a report on Monday, October 21st. Finally, StockNews.com upgraded Park Hotels & Resorts from a “sell” rating to a “hold” rating in a report on Tuesday, January 28th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $18.45.

Institutional Investors Weigh In On Park Hotels & Resorts

A number of institutional investors have recently added to or reduced their stakes in the stock. Amalgamated Bank raised its holdings in Park Hotels & Resorts by 1.1% in the fourth quarter. Amalgamated Bank now owns 98,223 shares of the financial services provider’s stock worth $1,382,000 after purchasing an additional 1,089 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Park Hotels & Resorts by 26.9% during the 4th quarter. Bank of New York Mellon Corp now owns 2,443,752 shares of the financial services provider’s stock worth $34,384,000 after acquiring an additional 518,727 shares in the last quarter. Y Intercept Hong Kong Ltd raised its stake in shares of Park Hotels & Resorts by 14.5% during the 4th quarter. Y Intercept Hong Kong Ltd now owns 48,146 shares of the financial services provider’s stock worth $677,000 after acquiring an additional 6,095 shares in the last quarter. Matthew 25 Management Corp lifted its position in Park Hotels & Resorts by 10.0% during the fourth quarter. Matthew 25 Management Corp now owns 1,100,000 shares of the financial services provider’s stock valued at $15,477,000 after acquiring an additional 100,000 shares during the last quarter. Finally, Allianz Asset Management GmbH boosted its stake in Park Hotels & Resorts by 3.6% in the fourth quarter. Allianz Asset Management GmbH now owns 3,583,943 shares of the financial services provider’s stock valued at $50,426,000 after acquiring an additional 125,730 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

Park Hotels & Resorts Stock Up 0.0 %

The company’s fifty day simple moving average is $14.45 and its 200-day simple moving average is $14.46. The firm has a market capitalization of $2.70 billion, a PE ratio of 8.35 and a beta of 2.00. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.51 and a quick ratio of 1.51.

Park Hotels & Resorts Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 19.84%. This is an increase from Park Hotels & Resorts’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Tuesday, December 31st. Park Hotels & Resorts’s payout ratio is 63.69%.

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.