The stock of Park Hotels & Resorts Inc. (NYSE:PK) last traded at $12.65, down -0.94% from the previous session.
Data from the available sources indicates that Park Hotels & Resorts Inc. (NYSE:PK) is covered by 15 analysts. 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 $12.77, this indicates a potential upside of 17.46 percent. PK stock price is now -2.99% away from the 50-day moving average and -1.15% away from the 200-day moving average. The market capitalization of the company currently stands at $2.68B.
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In total, 11 analysts have assigned it a hold rating, and 3 have given it a buy rating. Brokers who have rated the stock have averaged $16.15 as their price target over the next twelve months.
With the price target maintained at $18.50, Evercore ISI recently Downgraded its rating from Outperform to In-line for Park Hotels & Resorts Inc. (NYSE: PK).
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 $0.43 million. Insiders disposed of 132,685 shares of company stock worth roughly $1.68 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 BALYASNY ASSET MANAGEMENT L.P. during the first quarter worth $27,917,000. HEITMAN REAL ESTATE SECURITIES LLC invested $16,413,000 in shares of PK during the first quarter. In the first quarter, ALYESKA INVESTMENT GROUP, L.P. acquired a new stake in Park Hotels & Resorts Inc. valued at approximately $13,165,000. AMERICAN CENTURY COMPANIES INC acquired a new stake in PK for approximately $12,257,000. PEREGRINE CAPITAL MANAGEMENT LLC purchased a new stake in PK valued at around $8,835,000 in the second quarter. In total, there are 449 active investors with 92.70% ownership of the company’s stock.
With an opening price of $12.70 on Thursday morning, Park Hotels & Resorts Inc. (NYSE: PK) set off the trading day. During the past 12 months, Park Hotels & Resorts Inc. has had a low of $10.70 and a high of $15.38. The fifty day moving average price for PK is $13.02 and a two-hundred day moving average price translates $12.83 for the stock.
The latest earnings results from Park Hotels & Resorts Inc. (NYSE: PK) was released for Jun, 2023. According to the REIT – Hotel & Motel Company, earnings per share came in at -$0.7, missing analysts’ expectations of $0.28 by -0.98. This compares to $0.68 EPS in the same period last year. The net profit margin was -1.80% and return on equity was -1.10% for PK. The company reported revenue of $714.0 million for the quarter, compared to $695.0 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 2.73 percent. For the current quarter, analysts expect PK to generate $671.52M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 07/17/2023. Investors who held shares on 06/30/2023 were paid a $0.15 dividend. On an annualized basis, this represents a $0.60 dividend and a 4.74% percent yield. There was an ex-dividend date of 06/29/2023 for this dividend. In terms of dividend payout ratio, PK is presently at 38.89%.
Park Hotels & Resorts Inc.(PK) Company Profile
Park is one of the largest publicly-traded lodging REITs with a diverse portfolio of iconic and market-leading hotels and resorts with significant underlying real estate value. Park’s portfolio currently consists of 45 premium-branded hotels and resorts with over 29,000 rooms primarily located in prime city center and resort locations.
