Park Hotels & Resorts (NYSE:PK) Sets New 1-Year Low on Analyst Downgrade

Park Hotels & Resorts Inc. (NYSE:PK) shares hit a new 52-week low during trading 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 analysts have also recently weighed in on the stock. Bank of America dropped their price objective on shares of Park Hotels & Resorts from $17.00 to $16.50 and set a “neutral” rating on the stock in a report on Monday, October 21st. Wells Fargo & Company boosted their price target on 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. StockNews.com raised Park Hotels & Resorts from a “sell” rating to a “hold” rating in a report on Tuesday, January 28th. Jefferies Financial Group dropped 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 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 research note on Thursday, October 31st. Six investment 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, Park Hotels & Resorts has a consensus rating of “Moderate Buy” and a consensus price target of $18.45.

Institutional Investors Weigh In On Park Hotels & Resorts

A number of institutional investors and hedge funds have recently modified their holdings of PK. Wealth Enhancement Advisory Services LLC grew its position in Park Hotels & Resorts by 0.9% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 79,994 shares of the financial services provider’s stock worth $1,128,000 after purchasing an additional 752 shares in the last quarter. Cascade Investment Advisors Inc. lifted its stake in 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 worth $1,034,000 after acquiring an additional 915 shares in the last quarter. Asset Management One Co. Ltd. boosted its position in Park Hotels & Resorts by 0.3% during the 4th 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. Tidal Investments LLC grew its stake in Park Hotels & Resorts by 5.5% during the 3rd quarter. Tidal Investments LLC now owns 19,522 shares of the financial services provider’s stock valued at $275,000 after acquiring an additional 1,020 shares in the last quarter. Finally, Amalgamated Bank increased its holdings in shares of Park Hotels & Resorts by 1.1% in the 4th quarter. Amalgamated Bank now owns 98,223 shares of the financial services provider’s stock valued at $1,382,000 after purchasing an additional 1,089 shares during the period. 92.69% of the stock is owned by institutional investors and hedge funds.

Park Hotels & Resorts Stock Up 0.0 %

The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 1.24. The firm has a market capitalization of $2.70 billion, a PE ratio of 8.35 and a beta of 2.00. The business’s 50-day moving average price is $14.45 and its 200-day moving average price is $14.46.

Park Hotels & Resorts Increases Dividend

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