Park Hotels & Resorts (NYSE:PK) Sets New 1-Year Low – Here’s Why

Park Hotels & Resorts Inc. (NYSE:PK) reached a new 52-week low during trading on Monday . The stock traded as low as $13.02 and last traded at $12.85, with a volume of 13315 shares trading hands. The stock had previously closed at $13.49.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Wells Fargo & Company increased their price objective on Park Hotels & Resorts from $16.00 to $17.00 and gave the company an “equal weight” rating in a research note on Monday, December 9th. UBS Group upped their target price on Park Hotels & Resorts from $14.00 to $15.00 and gave the company a “neutral” rating in a report on Monday, November 18th. Bank of America dropped 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. Compass Point dropped their target price on Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Finally, StockNews.com upgraded Park Hotels & Resorts from a “sell” rating to a “hold” rating in a report on Tuesday, January 28th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $18.65.

Park Hotels & Resorts Trading Down 3.7 %

The firm has a market capitalization of $2.68 billion, a PE ratio of 8.28 and a beta of 2.00. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 1.24. The business has a fifty day moving average price of $14.54 and a two-hundred day moving average price of $14.48.

Park Hotels & Resorts Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.65 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This is a boost from Park Hotels & Resorts’s previous quarterly dividend of $0.25. This represents a $2.60 dividend on an annualized basis and a dividend yield of 20.01%. Park Hotels & Resorts’s dividend payout ratio is currently 63.69%.

Hedge Funds Weigh In On Park Hotels & Resorts

Several hedge funds have recently bought and sold shares of PK. Donald Smith & CO. Inc. lifted its stake in Park Hotels & Resorts by 22.5% during the 3rd quarter. Donald Smith & CO. Inc. now owns 8,077,286 shares of the financial services provider’s stock worth $113,890,000 after acquiring an additional 1,484,295 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Park Hotels & Resorts by 321.6% in the 3rd 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 valued at $19,875,000 after purchasing an additional 1,075,255 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in Park Hotels & Resorts by 345.9% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,035,082 shares of the financial services provider’s stock valued at $14,595,000 after purchasing an additional 802,939 shares in the last quarter. Foundry Partners LLC acquired a new stake in Park Hotels & Resorts in the 3rd quarter valued at about $9,238,000. Finally, JPMorgan Chase & Co. raised its position in Park Hotels & Resorts by 18.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,488,097 shares of the financial services provider’s stock valued at $49,182,000 after purchasing an additional 540,920 shares in the last quarter. Institutional investors and hedge funds 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.