Brokerages Set Park Hotels & Resorts Inc. (NYSE:PK) Target Price at $18.65

Shares of Park Hotels & Resorts Inc. (NYSE:PK) have been assigned an average rating of “Moderate Buy” from the eleven brokerages that are presently covering the stock, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $18.45.

A number of equities research analysts have recently weighed in on PK shares. StockNews.com downgraded shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research note on Wednesday. Compass Point cut 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 report on Thursday, October 31st. UBS Group cut their target price on shares of Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating on the stock in a research report on Monday. Wells Fargo & Company lifted 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 report on Monday, December 9th. Finally, Jefferies Financial Group cut their target price 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.

Park Hotels & Resorts Trading Up 1.0 %

PK opened at $13.19 on Friday. The company’s 50 day moving average is $14.40 and its 200-day moving average is $14.45. Park Hotels & Resorts has a 1-year low of $12.80 and a 1-year 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 company has a market cap of $2.72 billion, a P/E ratio of 8.40 and a beta of 2.00.

Park Hotels & Resorts Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a $0.65 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $2.60 annualized dividend and a dividend yield of 19.72%. This is a positive change from Park Hotels & Resorts’s previous quarterly dividend of $0.25. Park Hotels & Resorts’s payout ratio is currently 63.69%.

Institutional Trading of Park Hotels & Resorts

Several hedge funds have recently modified their holdings of the stock. Raymond James Financial Inc. bought a new stake in shares of Park Hotels & Resorts in the 4th quarter valued at $873,000. M&T Bank Corp increased its stake in Park Hotels & Resorts by 35.4% during the 4th quarter. M&T Bank Corp now owns 48,484 shares of the financial services provider’s stock valued at $683,000 after purchasing an additional 12,681 shares in the last quarter. Assetmark Inc. boosted its holdings in Park Hotels & Resorts by 3.4% during the 4th 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 last quarter. Carrera Capital Advisors purchased a new position in Park Hotels & Resorts during the 4th quarter worth $1,225,000. Finally, Victory Capital Management Inc. boosted its holdings in Park Hotels & Resorts by 14.9% during the 4th quarter. Victory Capital Management Inc. now owns 125,281 shares of the financial services provider’s stock worth $1,763,000 after acquiring an additional 16,279 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

Park Hotels & Resorts Company Profile

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.