Park Hotels & Resorts Inc. (NYSE:PK) Short Interest Update

Park Hotels & Resorts Inc. (NYSE:PK) saw a significant decline in short interest in December. As of December 15th, there was short interest totalling 16,280,000 shares, a decline of 19.6% from the November 30th total of 20,260,000 shares. Approximately 8.1% of the shares of the stock are short sold. Based on an average trading volume of 3,110,000 shares, the short-interest ratio is currently 5.2 days.

Park Hotels & Resorts Trading Down 0.9 %

Shares of NYSE:PK traded down $0.14 on Friday, reaching $14.92. 4,578,526 shares of the company traded hands, compared to its average volume of 2,812,437. Park Hotels & Resorts has a 52 week low of $13.23 and a 52 week high of $18.05. 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 business’s 50-day simple moving average is $14.84 and its 200 day simple moving average is $14.66. The stock has a market capitalization of $3.08 billion, a P/E ratio of 9.50, a price-to-earnings-growth ratio of 6.90 and a beta of 2.03.

Park Hotels & Resorts (NYSE:PK) last announced its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.21). Park Hotels & Resorts had a net margin of 12.66% and a return on equity of 9.63%. The firm had revenue of $649.00 million for the quarter, compared to analysts’ expectations of $646.15 million. During the same period in the previous year, the company earned $0.51 EPS. The company’s quarterly revenue was down 4.4% on a year-over-year basis. As a group, equities analysts anticipate that Park Hotels & Resorts will post 1.96 EPS for the current fiscal year.

Park Hotels & Resorts Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a $0.65 dividend. The ex-dividend date is Tuesday, December 31st. This is a positive change from Park Hotels & Resorts’s previous quarterly dividend of $0.25. This represents a $2.60 annualized dividend and a yield of 17.43%. Park Hotels & Resorts’s dividend payout ratio is 63.69%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on PK shares. UBS Group lifted their price objective on Park Hotels & Resorts from $14.00 to $15.00 and gave the company a “neutral” rating in a research note on Monday, November 18th. Bank of America cut their price objective on Park Hotels & Resorts from $17.00 to $16.50 and set a “neutral” rating for the company in a report on Monday, October 21st. Compass Point lowered 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 note on Thursday, October 31st. StockNews.com cut shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. Finally, Wolfe Research cut shares of Park Hotels & Resorts from an “outperform” rating to a “peer perform” rating in a research report on Thursday, September 26th. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $18.55.

Hedge Funds Weigh In On Park Hotels & Resorts

A number of institutional investors have recently bought and sold shares of PK. Tidal Investments LLC boosted its holdings in shares of 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 buying an additional 1,020 shares in the last quarter. Arizona State Retirement System grew its holdings in Park Hotels & Resorts by 2.1% in the second quarter. Arizona State Retirement System now owns 58,940 shares of the financial services provider’s stock worth $883,000 after purchasing an additional 1,232 shares during the period. Bfsg LLC increased its stake in shares of Park Hotels & Resorts by 8.7% during the third quarter. Bfsg LLC now owns 15,440 shares of the financial services provider’s stock valued at $218,000 after purchasing an additional 1,235 shares in the last quarter. Kendall Capital Management lifted its holdings in shares of Park Hotels & Resorts by 11.0% during the second quarter. Kendall Capital Management now owns 15,095 shares of the financial services provider’s stock valued at $226,000 after purchasing an additional 1,500 shares during the last quarter. Finally, United Services Automobile Association boosted its position in shares of Park Hotels & Resorts by 10.5% in the 2nd quarter. United Services Automobile Association now owns 15,826 shares of the financial services provider’s stock worth $237,000 after purchasing an additional 1,509 shares in the last quarter. 92.69% of the stock is owned by institutional investors.

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.