TheStreet downgraded shares of Park Hotels & Resorts (NYSE:PK) from a b- rating to a c rating in a research report sent to investors on Wednesday, June 5th, TheStreetRatingsTable reports.
Several other equities research analysts also recently issued reports on PK. Zacks Investment Research downgraded shares of Park Hotels & Resorts from a hold rating to a sell rating in a research note on Friday, February 15th. Nomura raised their price objective on shares of Park Hotels & Resorts from $32.00 to $36.00 and gave the stock a buy rating in a report on Thursday, February 28th. JPMorgan Chase & Co. set a $29.00 price objective on shares of Park Hotels & Resorts and gave the stock a hold rating in a report on Thursday, February 28th. Barclays reissued a buy rating and set a $35.00 price objective on shares of Park Hotels & Resorts in a report on Sunday, March 3rd. Finally, Deutsche Bank set a $34.00 price objective on shares of Park Hotels & Resorts and gave the stock a hold rating in a report on Friday, March 1st. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company has an average rating of Hold and an average target price of $33.00.
Shares of PK traded up $0.21 during mid-day trading on Wednesday, reaching $27.56. The company had a trading volume of 2,044,311 shares, compared to its average volume of 1,875,538. The company’s fifty day simple moving average is $28.68. Park Hotels & Resorts has a fifty-two week low of $25.30 and a fifty-two week high of $34.27. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.43 and a current ratio of 1.43. The firm has a market capitalization of $5.51 billion, a PE ratio of 9.31, a price-to-earnings-growth ratio of 2.36 and a beta of 1.38.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 6.53%. The ex-dividend date is Thursday, June 27th. Park Hotels & Resorts’s payout ratio is 60.81%.
Institutional investors have recently bought and sold shares of the business. Enterprise Financial Services Corp raised its position in shares of Park Hotels & Resorts by 132.0% during the 1st quarter. Enterprise Financial Services Corp now owns 819 shares of the financial services provider’s stock worth $25,000 after buying an additional 466 shares in the last quarter. Meridian Wealth Management LLC bought a new stake in shares of Park Hotels & Resorts during the 1st quarter worth about $32,000. Next Capital Management LLC bought a new stake in shares of Park Hotels & Resorts during the 4th quarter worth about $36,000. Penserra Capital Management LLC bought a new stake in shares of Park Hotels & Resorts during the 1st quarter worth about $56,000. Finally, Glassman Wealth Services raised its holdings in shares of Park Hotels & Resorts by 2,073.3% in the 1st quarter. Glassman Wealth Services now owns 2,521 shares of the financial services provider’s stock worth $78,000 after purchasing an additional 2,405 shares in the last quarter.
About Park Hotels & Resorts
Park is the second largest publicly traded lodging REIT with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value. Park's portfolio consists of 52 premium-branded hotels and resorts with over 30,000 rooms, a substantial portion of which are located in prime United States markets with high barriers to entry.
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