Park Hotels & Resorts (NYSE:PK – Get Rating) will be posting its quarterly earnings results after the market closes on Wednesday, February 22nd. Analysts expect Park Hotels & Resorts to post earnings of $0.37 per share for the quarter. Individual that wish to listen to the company’s earnings conference call can do so using this link.
Park Hotels & Resorts Price Performance
Shares of Park Hotels & Resorts stock opened at $14.56 on Wednesday. The company has a current ratio of 3.24, a quick ratio of 3.24 and a debt-to-equity ratio of 1.08. The company’s 50-day moving average price is $12.83 and its two-hundred day moving average price is $13.08. Park Hotels & Resorts has a 52 week low of $10.92 and a 52 week high of $20.58. The stock has a market cap of $3.27 billion, a PE ratio of 50.21 and a beta of 1.96.
Park Hotels & Resorts Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 17th. Shareholders of record on Friday, December 30th were given a $0.25 dividend. The ex-dividend date of this dividend was Thursday, December 29th. This is a boost from Park Hotels & Resorts’s previous quarterly dividend of $0.01. This represents a $1.00 annualized dividend and a yield of 6.87%. Park Hotels & Resorts’s payout ratio is 344.83%.
Insider Transactions at Park Hotels & Resorts
In other news, Director Geoffrey Garrett sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, December 16th. The stock was sold at an average price of $11.86, for a total transaction of $35,580.00. Following the completion of the transaction, the director now directly owns 33,604 shares in the company, valued at $398,543.44. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.09% of the company’s stock.
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the company. Captrust Financial Advisors acquired a new position in shares of Park Hotels & Resorts in the second quarter valued at $104,000. Franklin Resources Inc. acquired a new position in shares of Park Hotels & Resorts in the fourth quarter valued at $121,000. Creative Planning acquired a new position in shares of Park Hotels & Resorts in the fourth quarter valued at $144,000. Cetera Advisor Networks LLC acquired a new position in shares of Park Hotels & Resorts in the fourth quarter valued at $148,000. Finally, Pathstone Family Office LLC raised its stake in shares of Park Hotels & Resorts by 49.3% in the third quarter. Pathstone Family Office LLC now owns 17,369 shares of the financial services provider’s stock valued at $195,000 after purchasing an additional 5,733 shares in the last quarter. 89.42% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several equities research analysts have commented on the stock. Wells Fargo & Company boosted their price target on shares of Park Hotels & Resorts from $16.00 to $17.00 and gave the stock an “overweight” rating in a research report on Thursday, February 2nd. Morgan Stanley lifted their price target on Park Hotels & Resorts from $14.00 to $15.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 7th. Truist Financial dropped their price target on Park Hotels & Resorts to $20.00 in a research note on Wednesday, November 16th. TheStreet cut Park Hotels & Resorts from a “c-” rating to a “d+” rating in a research note on Wednesday, November 23rd. Finally, Barclays dropped their price target on Park Hotels & Resorts from $18.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 10th. Eight equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Park Hotels & Resorts currently has an average rating of “Hold” and a consensus price target of $18.21.
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.