Park Hotels & Resorts (NYSE:PK)’s share price hit a new 52-week high and low during mid-day trading on Tuesday . The company traded as low as $31.73 and last traded at $31.48, with a volume of 47117 shares traded. The stock had previously closed at $31.37.
A number of equities analysts have recently issued reports on the company. Zacks Investment Research raised Park Hotels & Resorts from a “hold” rating to a “buy” rating and set a $34.00 target price for the company in a report on Saturday, May 12th. Deutsche Bank increased their target price on Park Hotels & Resorts from $29.00 to $30.00 and gave the stock a “hold” rating in a report on Friday, February 9th. ValuEngine cut Park Hotels & Resorts from a “buy” rating to a “hold” rating in a report on Wednesday, May 2nd. Boenning Scattergood reissued a “hold” rating on shares of Park Hotels & Resorts in a report on Monday, May 7th. Finally, Nomura dropped their target price on Park Hotels & Resorts from $33.00 to $30.00 and set a “buy” rating for the company in a report on Thursday, March 1st. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company’s stock. Park Hotels & Resorts currently has a consensus rating of “Hold” and an average target price of $37.45.
Get Park Hotels & Resorts alerts:The stock has a market capitalization of $6.32 billion, a P/E ratio of 11.27, a P/E/G ratio of 2.24 and a beta of 0.21. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.52.
Park Hotels & Resorts (NYSE:PK) last released its quarterly earnings results on Thursday, May 3rd. The financial services provider reported $0.71 EPS for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.08. The business had revenue of $668.00 million for the quarter, compared to analyst estimates of $646.90 million. Park Hotels & Resorts had a return on equity of 6.57% and a net margin of 15.31%. Park Hotels & Resorts’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.64 EPS. equities analysts forecast that Park Hotels & Resorts will post 2.8 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 16th. Investors of record on Friday, June 29th will be given a dividend of $0.43 per share. The ex-dividend date is Thursday, June 28th. This represents a $1.72 dividend on an annualized basis and a yield of 5.49%. Park Hotels & Resorts’s dividend payout ratio (DPR) is presently 61.87%.
In related news, EVP Matthew Abram Sparks sold 12,877 shares of the stock in a transaction that occurred on Monday, May 7th. The stock was sold at an average price of $29.87, for a total transaction of $384,635.99. Following the sale, the executive vice president now directly owns 46,931 shares in the company, valued at approximately $1,401,828.97. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.38% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Amalgamated Bank boosted its position in Park Hotels & Resorts by 22.9% in the 1st quarter. Amalgamated Bank now owns 33,891 shares of the financial services provider’s stock valued at $916,000 after buying an additional 6,321 shares during the last quarter. Principal Financial Group Inc. boosted its position in Park Hotels & Resorts by 21.5% in the 1st quarter. Principal Financial Group Inc. now owns 1,549,441 shares of the financial services provider’s stock valued at $41,866,000 after buying an additional 273,784 shares during the last quarter. Xact Kapitalforvaltning AB boosted its position in Park Hotels & Resorts by 128.9% in the 1st quarter. Xact Kapitalforvaltning AB now owns 25,397 shares of the financial services provider’s stock valued at $686,000 after buying an additional 14,300 shares during the last quarter. Legal & General Group Plc boosted its position in Park Hotels & Resorts by 33.4% in the 1st quarter. Legal & General Group Plc now owns 1,119,570 shares of the financial services provider’s stock valued at $30,250,000 after buying an additional 280,283 shares during the last quarter. Finally, Brookfield Asset Management Inc. boosted its position in Park Hotels & Resorts by 52.2% in the 1st quarter. Brookfield Asset Management Inc. now owns 6,872,340 shares of the financial services provider’s stock valued at $185,691,000 after buying an additional 2,356,231 shares during the last quarter.
Park Hotels & Resorts Company Profile
Park is a leading lodging REIT with a diverse portfolio of hotels and resorts with significant underlying real estate value. Park's portfolio consists of 55 premium-branded hotels and resorts with over 32,000 rooms located in prime United States and international markets with high barriers to entry.
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