Park Hotels & Resorts Inc. (PK) To Go Ex-Dividend on December 31st

Park Hotels & Resorts Inc. (NYSE:PK) announced a quarterly dividend on Tuesday, November 26th,RTT News reports. Stockholders of record on Tuesday, December 31st will be paid a dividend of 0.65 per share by the financial services provider on Wednesday, January 15th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 16.71%. The ex-dividend date is Tuesday, December 31st. This is an increase from Park Hotels & Resorts’s previous quarterly dividend of $0.25.

Park Hotels & Resorts has raised its dividend payment by an average of 10.1% per year over the last three years. Park Hotels & Resorts has a dividend payout ratio of 109.9% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Park Hotels & Resorts to earn $2.19 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 45.7%.

Park Hotels & Resorts Trading Up 1.3 %

Park Hotels & Resorts stock opened at $15.56 on Thursday. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 1.24. Park Hotels & Resorts has a 52 week low of $13.23 and a 52 week high of $18.05. The company has a market capitalization of $3.21 billion, a price-to-earnings ratio of 9.91, a price-to-earnings-growth ratio of 0.85 and a beta of 2.02. The stock has a 50-day moving average price of $14.49 and a 200 day moving average price of $14.73.

Park Hotels & Resorts (NYSE:PK) last released its earnings results on Tuesday, October 29th. The financial services provider reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.21). Park Hotels & Resorts had a return on equity of 9.63% and a net margin of 12.66%. The firm had revenue of $649.00 million for the quarter, compared to analyst estimates of $646.15 million. During the same period last year, the firm earned $0.51 EPS. The company’s revenue for the quarter was down 4.4% compared to the same quarter last year. Sell-side analysts anticipate that Park Hotels & Resorts will post 2.09 EPS for the current year.

Analyst Upgrades and Downgrades

PK has been the subject of a number of research reports. Wells Fargo & Company lifted their target price on Park Hotels & Resorts from $14.50 to $16.00 and gave the stock an “equal weight” rating in a report on Tuesday. Bank of America decreased their target price on Park Hotels & Resorts from $17.00 to $16.50 and set a “neutral” rating for the company in a report on Monday, October 21st. Evercore ISI decreased their price target on Park Hotels & Resorts from $20.00 to $19.00 and set an “outperform” rating for the company in a report on Tuesday, August 13th. StockNews.com downgraded Park Hotels & Resorts from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. Finally, UBS Group boosted their price target on Park Hotels & Resorts from $14.00 to $15.00 and gave the company a “neutral” rating in a report on Monday, November 18th. One equities research 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. According to data from MarketBeat, Park Hotels & Resorts has an average rating of “Hold” and a consensus target price of $18.23.

Park Hotels & Resorts Company Profile

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.