Park Hotels & Resorts Inc. (NYSE:PK) Declares Quarterly Dividend of $0.25

Park Hotels & Resorts Inc. (NYSE:PK) declared a quarterly dividend on Friday, July 26th, Zacks reports. Investors of record on Monday, September 30th will be paid a dividend of 0.25 per share by the financial services provider on Tuesday, October 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.75%. The ex-dividend date of this dividend is Monday, September 30th.

Park Hotels & Resorts has raised its dividend by an average of 10.1% per year over the last three years. Park Hotels & Resorts has a dividend payout ratio of 112.4% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Park Hotels & Resorts to earn $2.20 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 45.5%.

Park Hotels & Resorts Stock Up 0.3 %

Shares of PK stock opened at $14.81 on Friday. The company’s fifty day simple moving average is $14.56 and its two-hundred day simple moving average is $15.49. Park Hotels & Resorts has a 52 week low of $11.05 and a 52 week high of $18.05. The stock has a market cap of $3.09 billion, a P/E ratio of 33.66, a PEG ratio of 0.73 and a beta of 2.02. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 1.23.

Park Hotels & Resorts (NYSE:PK) last posted its earnings results on Wednesday, July 31st. The financial services provider reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.30). The firm had revenue of $686.00 million during the quarter, compared to analysts’ expectations of $694.94 million. Park Hotels & Resorts had a return on equity of 8.77% and a net margin of 11.50%. Analysts predict that Park Hotels & Resorts will post 2.11 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on PK. UBS Group decreased their price target on shares of Park Hotels & Resorts from $18.00 to $14.00 and set a “neutral” rating on the stock in a research note on Friday, August 16th. Evercore ISI lowered their price target on shares of Park Hotels & Resorts from $20.00 to $19.00 and set an “outperform” rating for the company in a report on Tuesday, August 13th. Truist Financial reduced their price objective on Park Hotels & Resorts from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Wednesday, September 4th. Wolfe Research lowered Park Hotels & Resorts from an “outperform” rating to a “peer perform” rating in a research note on Thursday. Finally, Wells Fargo & Company dropped their price objective on shares of Park Hotels & Resorts from $17.00 to $14.50 and set an “equal weight” rating for the company in a research note on Friday, September 13th. Eight research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Park Hotels & Resorts has an average rating of “Hold” and a consensus price target of $17.05.

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.