Park Hotels & Resorts (NYSE:PK) Hits New 1-Year Low – Time to Sell?

Park Hotels & Resorts Inc. (NYSE:PK) hit a new 52-week low during trading on Thursday . The stock traded as low as $9.70 and last traded at $9.83, with a volume of 1039798 shares changing hands. The stock had previously closed at $10.87.

Analysts Set New Price Targets

A number of equities analysts recently commented on PK shares. Jefferies Financial Group dropped their price objective on Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. Wells Fargo & Company cut their price target on shares of Park Hotels & Resorts from $17.00 to $14.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 18th. StockNews.com lowered shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research note on Friday, February 21st. UBS Group lowered 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, February 3rd. Finally, Truist Financial reduced their price target on Park Hotels & Resorts from $18.00 to $16.00 and set a “buy” rating for the company in a research report on Friday, March 21st. One analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $17.72.

Park Hotels & Resorts Trading Down 10.3 %

The company has a 50-day simple moving average of $12.31 and a 200 day simple moving average of $13.77. The company has a market capitalization of $1.97 billion, a P/E ratio of 9.65, a P/E/G ratio of 1.51 and a beta of 1.73. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.51 and a current ratio of 1.19.

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 net margin of 8.16% and a return on equity of 5.63%. The company had revenue of $625.00 million during the quarter, compared to the consensus estimate of $609.05 million. Sell-side analysts expect that Park Hotels & Resorts Inc. will post 2.11 earnings per share for the current year.

Park Hotels & Resorts Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.00 annualized dividend and a yield of 10.26%. Park Hotels & Resorts’s dividend payout ratio is 99.01%.

Institutional Trading of Park Hotels & Resorts

Several institutional investors have recently modified their holdings of PK. Norges Bank acquired a new position in shares of Park Hotels & Resorts in the fourth quarter valued at $41,087,000. Deutsche Bank AG raised its stake in shares of Park Hotels & Resorts by 809.3% in the 4th quarter. Deutsche Bank AG now owns 2,415,621 shares of the financial services provider’s stock valued at $33,988,000 after buying an additional 2,149,972 shares in the last quarter. Landmark Investment Partners L.P. bought a new position in shares of Park Hotels & Resorts during the 4th quarter worth about $21,342,000. Invesco Ltd. boosted its position in shares of Park Hotels & Resorts by 84.0% during the 4th quarter. Invesco Ltd. now owns 2,837,917 shares of the financial services provider’s stock valued at $39,929,000 after acquiring an additional 1,295,548 shares in the last quarter. Finally, Donald Smith & CO. Inc. boosted its position in shares of Park Hotels & Resorts by 13.9% during the 4th quarter. Donald Smith & CO. Inc. now owns 9,200,125 shares of the financial services provider’s stock valued at $129,446,000 after acquiring an additional 1,122,839 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Park Hotels & Resorts Company Profile

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.