In yesterday’s Wall Street session, Park Hotels & Resorts Inc. (NYSE:PK) shares traded at $13.55, down -0.95% from the previous session.
16 analysts cover Park Hotels & Resorts Inc. (NYSE:PK), according to research data. The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $25.00 and a low of $12.00, we find $15.00. Given the previous closing price of $13.68, this indicates a potential upside of 9.65 percent. PK stock price is now 10.64% away from the 50-day moving average and 5.42% away from the 200-day moving average. The market capitalization of the company currently stands at $2.95B.
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The stock has received a hold rating from 10 analysts and a buy rating from 5. Brokers who have rated the stock have averaged $16.27 as their price target over the next twelve months.
In other news, Garrett Geoffrey, Director sold 3,000 shares of the company’s stock on Dec 16. The stock was sold for $35,565 at an average price of $11.86. Upon completion of the transaction, the Director now directly owns 33,604 shares in the company, valued at $0.46 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jun 14, Director ECKERT THOMAS D bought 10,000 shares of the business’s stock. A total of $151,250 was incurred on buying the stock at an average price of $15.12. This leaves the insider owning 96,637 shares of the company worth $1.31 million. Insiders disposed of 137,685 shares of company stock worth roughly $1.87 million over the past 1 year. A total of 0.20% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in PK stock. A new stake in Park Hotels & Resorts Inc. shares was purchased by PRIVATE MANAGEMENT GROUP INC during the first quarter worth $24,769,000. SCHONFELD STRATEGIC ADVISORS LLC invested $15,968,000 in shares of PK during the first quarter. In the first quarter, SOUND INCOME STRATEGIES, LLC acquired a new stake in Park Hotels & Resorts Inc. valued at approximately $6,487,000. WALLEYE CAPITAL LLC acquired a new stake in PK for approximately $5,799,000. SCULPTOR CAPITAL LP purchased a new stake in PK valued at around $3,400,000 in the second quarter. In total, there are 452 active investors with 92.70% ownership of the company’s stock.
On Friday morning Park Hotels & Resorts Inc. (NYSE: PK) stock kicked off with the opening price of $13.82. During the past 12 months, Park Hotels & Resorts Inc. has had a low of $10.70 and a high of $19.25. The fifty day moving average price for PK is $12.26 and a two-hundred day moving average price translates $12.92 for the stock.
The latest earnings results from Park Hotels & Resorts Inc. (NYSE: PK) was released for Mar, 2023. According to the REIT – Hotel & Motel Company, earnings per share came in at $0.15, beating analysts’ expectations of $0.07 by 0.08. This compares to -$0.24 EPS in the same period last year. The net profit margin was 9.40% and return on equity was 5.80% for PK. The company reported revenue of $648.0 million for the quarter, compared to $479.0 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 35.28 percent. For the current quarter, analysts expect PK to generate $715.2M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 04/17/2023. Investors who held shares on 03/31/2023 were paid a $0.15 dividend. On an annualized basis, this represents a $0.60 dividend and a 4.43% percent yield. There was an ex-dividend date of 03/30/2023 for this dividend. In terms of dividend payout ratio, PK is presently at 26.00%.
Park Hotels & Resorts Inc.(PK) Company Profile
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 currently consists of 60 premium-branded hotels and resorts with over 33,000 rooms primarily located in prime city center and resort locations.
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