Park Hotels & Resorts (NYSE:PK) Upgraded by StockNews.com to “Hold” Rating

StockNews.com upgraded shares of Park Hotels & Resorts (NYSE:PK) from a sell rating to a hold rating in a report issued on Thursday.

Several other research analysts also recently issued reports on PK. Wells Fargo & Company upped their price target on shares of Park Hotels & Resorts from $16.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Monday, December 9th. Bank of America reduced their price target on shares of Park Hotels & Resorts from $17.00 to $16.50 and set a “neutral” rating on the stock in a research report on Monday, October 21st. UBS Group reduced their price target on shares of Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating on the stock in a research report on Monday, February 3rd. Jefferies Financial Group reduced their price target on shares of Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating on the stock in a research report on Thursday, January 2nd. Finally, Compass Point cut their target price on shares of Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $18.45.

Park Hotels & Resorts Stock Up 0.5 %

Shares of NYSE PK opened at $12.78 on Thursday. The firm’s 50-day simple moving average is $14.14 and its 200 day simple moving average is $14.39. The company has a market cap of $2.64 billion, a price-to-earnings ratio of 8.14 and a beta of 2.00. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 1.24. Park Hotels & Resorts has a 12-month low of $12.56 and a 12-month high of $18.05.

Park Hotels & Resorts Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 20.35%. 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 dividend payout ratio (DPR) is currently 63.69%.

Institutional Trading of Park Hotels & Resorts

A number of hedge funds have recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC raised its position in shares of Park Hotels & Resorts by 0.9% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 79,994 shares of the financial services provider’s stock valued at $1,128,000 after acquiring an additional 752 shares during the period. Assetmark Inc. raised its position in shares of Park Hotels & Resorts by 3.4% in the 4th quarter. Assetmark Inc. now owns 23,355 shares of the financial services provider’s stock valued at $329,000 after acquiring an additional 764 shares during the period. Xponance Inc. raised its position in shares of Park Hotels & Resorts by 3.8% in the 4th quarter. Xponance Inc. now owns 24,650 shares of the financial services provider’s stock valued at $347,000 after acquiring an additional 892 shares during the period. Cascade Investment Advisors Inc. raised its position in shares of Park Hotels & Resorts by 1.3% in the 4th quarter. Cascade Investment Advisors Inc. now owns 73,487 shares of the financial services provider’s stock valued at $1,034,000 after acquiring an additional 915 shares during the period. Finally, Asset Management One Co. Ltd. raised its position in shares of Park Hotels & Resorts by 0.3% in the 4th quarter. Asset Management One Co. Ltd. now owns 338,032 shares of the financial services provider’s stock valued at $5,043,000 after acquiring an additional 1,011 shares during the period. 92.69% of the stock is currently owned by institutional investors and hedge funds.

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.