UBS Group Cuts Park Hotels & Resorts (NYSE:PK) Price Target to $13.00

Park Hotels & Resorts (NYSE:PK) had its price objective trimmed by UBS Group from $15.00 to $13.00 in a research report released on Monday morning,Benzinga reports. The firm currently has a neutral rating on the financial services provider’s stock.

Several other research firms also recently commented on PK. Jefferies Financial Group dropped their target price on Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. 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 research report on Thursday, October 31st. Bank of America cut 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 research report on Monday, October 21st. Wells Fargo & Company upped their target price on shares of Park Hotels & Resorts from $16.00 to $17.00 and gave the stock an “equal weight” rating in a research note on Monday, December 9th. Finally, StockNews.com upgraded shares of Park Hotels & Resorts from a “sell” rating to a “hold” rating in a report on Tuesday, January 28th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Park Hotels & Resorts currently has an average rating of “Hold” and a consensus target price of $18.45.

Park Hotels & Resorts Price Performance

PK stock opened at $13.08 on Monday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.51 and a current ratio of 1.51. The firm has a 50 day moving average price of $14.45 and a 200-day moving average price of $14.46. Park Hotels & Resorts has a 52-week low of $12.80 and a 52-week high of $18.05. The firm has a market capitalization of $2.70 billion, a price-to-earnings ratio of 8.33 and a beta of 2.00.

Park Hotels & Resorts Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 19.89%. The ex-dividend date of this dividend was Tuesday, December 31st. This is an increase from Park Hotels & Resorts’s previous quarterly dividend of $0.25. Park Hotels & Resorts’s payout ratio is 63.69%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of PK. Donald Smith & CO. Inc. boosted its stake in shares of Park Hotels & Resorts by 22.5% during the 3rd quarter. Donald Smith & CO. Inc. now owns 8,077,286 shares of the financial services provider’s stock worth $113,890,000 after acquiring an additional 1,484,295 shares during the last quarter. Allianz Asset Management GmbH lifted its position in Park Hotels & Resorts by 3.6% during 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 purchasing an additional 125,730 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Park Hotels & Resorts by 18.4% during the third quarter. JPMorgan Chase & Co. now owns 3,488,097 shares of the financial services provider’s stock valued at $49,182,000 after purchasing an additional 540,920 shares during the period. Charles Schwab Investment Management Inc. increased its position in Park Hotels & Resorts by 2.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,902,728 shares of the financial services provider’s stock worth $40,928,000 after buying an additional 66,093 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Park Hotels & Resorts by 26.9% in the fourth 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 buying an additional 518,727 shares during the period. 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.