Park Hotels & Resorts (NYSE:PK) Price Target Cut to $16.00 by Analysts at Truist Financial

Park Hotels & Resorts (NYSE:PK) had its price target lowered by Truist Financial from $18.00 to $16.00 in a report published on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the financial services provider’s stock.

Other research analysts have also issued reports about the company. StockNews.com lowered Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research report on Friday, February 21st. Wells Fargo & Company cut their target price on Park Hotels & Resorts from $17.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 18th. Jefferies Financial Group cut their target price on 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. Finally, UBS Group cut their target price on Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating on the stock in a research report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $17.95.

Park Hotels & Resorts Trading Down 3.5 %

Shares of Park Hotels & Resorts stock opened at $11.19 on Friday. Park Hotels & Resorts has a fifty-two week low of $10.87 and a fifty-two week high of $18.05. The firm has a market cap of $2.26 billion, a PE ratio of 11.07, a P/E/G ratio of 1.51 and a beta of 2.02. The business’s fifty day moving average is $12.73 and its two-hundred day moving average is $13.94. The company has a quick ratio of 1.51, a current ratio of 1.19 and a debt-to-equity ratio of 1.27.

Park Hotels & Resorts (NYSE:PK) last issued its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.01). Park Hotels & Resorts had a return on equity of 5.63% and a net margin of 8.16%. The business had revenue of $625.00 million for the quarter, compared to analysts’ expectations of $609.05 million. Analysts anticipate that Park Hotels & Resorts will post 2.11 earnings per share for the current year.

Park Hotels & Resorts Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.94%. The ex-dividend date is Monday, March 31st. Park Hotels & Resorts’s dividend payout ratio is presently 99.01%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. XTX Topco Ltd increased its position in shares of Park Hotels & Resorts by 420.7% during the third quarter. XTX Topco Ltd now owns 89,168 shares of the financial services provider’s stock worth $1,257,000 after acquiring an additional 72,044 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Park Hotels & Resorts by 321.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,409,574 shares of the financial services provider’s stock worth $19,875,000 after acquiring an additional 1,075,255 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Park Hotels & Resorts by 18.4% during the third quarter. JPMorgan Chase & Co. now owns 3,488,097 shares of the financial services provider’s stock worth $49,182,000 after acquiring an additional 540,920 shares during the last quarter. Northeast Financial Group Inc. increased its position in shares of Park Hotels & Resorts by 34.4% during the fourth quarter. Northeast Financial Group Inc. now owns 124,674 shares of the financial services provider’s stock worth $1,754,000 after acquiring an additional 31,928 shares during the last quarter. Finally, Systematic Financial Management LP purchased a new stake in shares of Park Hotels & Resorts during the third quarter worth about $768,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

About Park Hotels & Resorts

Park Hotels & Resorts, Inc operates as a real estate investment trust, which owns and operates hotels and resorts. It operates through the Consolidated Hotels and Unconsolidated Hotels segments. Its portfolio of hotels and resorts include the Waldorf Astoria Hotels and Resorts, Conrad Hotels & Resorts, Hilton Hotels & Resorts, DoubleTree by Hilton, Embassy Suites by Hilton, Hilton Garden Inn, Hampton by Hilton, and Curio.