Park Hotels & Resorts Inc. Receives Average Recommendation of 'Moderate Buy' from Analysts

Park Hotels & Resorts Inc. (NYSE:PK - Get Free Report) has garnered a consensus recommendation of "Moderate Buy" from the eleven research firms currently covering its stock, according to Marketbeat.com. This reflects a balanced perspective from analysts, with five rating the stock as a hold and six issuing a buy recommendation. The average one-year target price among brokerages covering the stock is $18.65.

Several equities research analysts have recently published reports on Park Hotels & Resorts shares. For instance, Wells Fargo & Company raised their price target from $16.00 to $17.00 and maintained an "equal weight" rating on December 9th. Similarly, Compass Point downgraded their target price from $25.00 to $20.00 but retained a "buy" recommendation on October 31st. Jefferies Financial Group adjusted their price target from $23.00 to $22.00, also assigning a "buy" rating in a research note dated January 2nd. Meanwhile, Bank of America trimmed its price objective from $17.00 to $16.50 and set a "neutral" rating on October 21st. Moreover, StockNews.com upgraded shares of Park Hotels & Resorts from a "sell" rating to a "hold" rating on January 28th.

Stock Performance Overview

Shares of Park Hotels & Resorts opened at $13.50 on a recent Friday. The company has a market capitalization of $2.79 billion, with a P/E ratio of 8.60 and a price-to-earnings-growth ratio of 5.53. The business's 50-day moving average stands at $14.54, while its 200-day moving average is $14.49. Park Hotels & Resorts has a current ratio of 1.51, a quick ratio of 1.51, and a debt-to-equity ratio of 1.24. The stock has a one-year low of $13.22 and a high of $18.05.

Recent Dividend Announcement

The company recently declared a quarterly dividend, paid on January 15th. Shareholders who were on record as of December 31st received a dividend of $0.65, a significant increase from the previous amount of $0.25. This brings the annualized dividend to $2.60, resulting in a notable yield of 19.27%. The ex-dividend date was set for December 31st, and currently, Park Hotels & Resorts has a payout ratio of 63.69%.

Institutional Investment Activity

A number of institutional investors and hedge funds have recently adjusted their positions in PK shares. Harbor Capital Advisors Inc. acquired a new stake worth about $33,000 in Park Hotels & Resorts during the third quarter. Venturi Wealth Management LLC significantly increased their holdings by 281.6%, now owning 3,850 shares valued at $54,000 after purchasing an additional 2,841 shares. Claro Advisors LLC also bought new shares during the third quarter, valued at approximately $69,000. Covestor Ltd increased its stake by 64.8%, now owning 6,894 shares worth $97,000 following a recent purchase. Finally, KBC Group NV enhanced its share ownership by 34.4%, bringing their total to 7,360 shares valued at $104,000. Institutional investors currently hold 92.69% of the stock.

About Park Hotels & Resorts

Park Hotels & Resorts is one of the largest publicly traded lodging REITs and boasts a diverse portfolio of premium hotels and resorts, valued for their significant underlying real estate. The firm's current portfolio includes 43 premium-branded hotels and resorts featuring over 26,000 rooms, primarily located in key city and resort destinations.

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