Shares of Park Hotels & Resorts Inc. (NYSE:PK – Get Free Report) have earned a consensus recommendation of “Moderate Buy” from the twelve ratings firms that are presently covering the firm, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $17.75.
Several research firms have recently weighed in on PK. StockNews.com upgraded shares of Park Hotels & Resorts from a “sell” rating to a “hold” rating in a research report on Wednesday, May 1st. Barclays boosted their target price on Park Hotels & Resorts from $21.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, May 24th. Wedbush restated a “neutral” rating and issued a $17.00 price target on shares of Park Hotels & Resorts in a research report on Tuesday, May 28th. Evercore ISI reduced their price objective on Park Hotels & Resorts from $20.00 to $19.00 and set an “outperform” rating on the stock in a research report on Tuesday. Finally, Truist Financial dropped their target price on Park Hotels & Resorts from $21.00 to $20.00 and set a “buy” rating for the company in a report on Thursday, May 30th.
Read Our Latest Research Report on PK
Park Hotels & Resorts Trading Up 2.6 %
Park Hotels & Resorts Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 6.99%. The ex-dividend date of this dividend is Monday, September 30th. Park Hotels & Resorts’s dividend payout ratio (DPR) is presently 227.28%.
Hedge Funds Weigh In On Park Hotels & Resorts
Hedge funds have recently made changes to their positions in the stock. International Assets Investment Management LLC lifted its stake in Park Hotels & Resorts by 1,826.1% during the 4th quarter. International Assets Investment Management LLC now owns 29,759 shares of the financial services provider’s stock worth $455,000 after acquiring an additional 28,214 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Park Hotels & Resorts by 16.8% in the fourth quarter. Nisa Investment Advisors LLC now owns 155,663 shares of the financial services provider’s stock valued at $2,382,000 after purchasing an additional 22,335 shares during the period. Louisiana State Employees Retirement System acquired a new position in shares of Park Hotels & Resorts in the fourth quarter valued at approximately $903,000. Strs Ohio grew its holdings in shares of Park Hotels & Resorts by 19.6% in the fourth quarter. Strs Ohio now owns 354,660 shares of the financial services provider’s stock valued at $5,426,000 after purchasing an additional 58,130 shares in the last quarter. Finally, Mackenzie Financial Corp increased its stake in Park Hotels & Resorts by 111.3% during the 4th quarter. Mackenzie Financial Corp now owns 23,830 shares of the financial services provider’s stock worth $365,000 after buying an additional 12,552 shares during the period. Hedge funds and other institutional investors own 92.69% of the company’s stock.
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.
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