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

StockNews.com cut shares of Park Hotels & Resorts (NYSE:PK) from a hold rating to a sell rating in a research note released on Wednesday morning.

PK has been the subject of a number of other reports. Wells Fargo & Company raised 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 report on Monday, December 9th. UBS Group reduced their price target on shares of Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating for the company in a report on Monday, February 3rd. Compass Point reduced their price target on shares of 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 shares of Park Hotels & Resorts from $17.00 to $16.50 and set a “neutral” rating for the company in a report on Monday, October 21st. Finally, Jefferies Financial Group reduced 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. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $18.45.

Park Hotels & Resorts Trading Up 0.1 %

NYSE:PK opened at $13.20 on Wednesday. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 1.24. The stock has a market capitalization of $2.72 billion, a price-to-earnings ratio of 8.41 and a beta of 2.00. The firm has a fifty day simple moving average of $14.35 and a two-hundred day simple moving average of $14.44. Park Hotels & Resorts has a 12 month low of $12.80 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 dividend of $0.65 per share. This is a positive change from Park Hotels & Resorts’s previous quarterly dividend of $0.25. This represents a $2.60 dividend on an annualized basis and a dividend yield of 19.70%. The ex-dividend date was Tuesday, December 31st. Park Hotels & Resorts’s dividend payout ratio (DPR) is presently 63.69%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC lifted its position in shares of Park Hotels & Resorts by 0.9% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 79,994 shares of the financial services provider’s stock valued at $1,128,000 after purchasing an additional 752 shares in the last quarter. Assetmark Inc. raised its position in Park Hotels & Resorts by 3.4% in the fourth quarter. Assetmark Inc. now owns 23,355 shares of the financial services provider’s stock worth $329,000 after acquiring an additional 764 shares during the period. Cascade Investment Advisors Inc. raised its position in Park Hotels & Resorts by 1.3% in the fourth quarter. Cascade Investment Advisors Inc. now owns 73,487 shares of the financial services provider’s stock worth $1,034,000 after acquiring an additional 915 shares during the period. Asset Management One Co. Ltd. raised its position in Park Hotels & Resorts by 0.3% in the fourth quarter. Asset Management One Co. Ltd. now owns 338,032 shares of the financial services provider’s stock worth $5,043,000 after acquiring an additional 1,011 shares during the period. Finally, Tidal Investments LLC raised its position in Park Hotels & Resorts by 5.5% in the third quarter. Tidal Investments LLC now owns 19,522 shares of the financial services provider’s stock worth $275,000 after acquiring an additional 1,020 shares during the period. 92.69% of the stock is owned by institutional investors.

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.