In yesterday’s Wall Street session, Park Hotels & Resorts Inc (NYSE:PK) shares traded at $12.52, up 3.73% from the previous session.
17 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 $12.07, this indicates a potential upside of 24.28 percent. PK stock price is now -2.52% away from the 50-day moving average and -2.66% away from the 200-day moving average. The market capitalization of the company currently stands at $2.70B.
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The stock has received a hold rating from 11 analysts and a buy rating from 5. Brokers who have rated the stock have averaged $15.86 as their price target over the next twelve months.
With the price target of $16, Wolfe Research recently initiated with Outperform rating for Park Hotels & Resorts Inc (NYSE: PK).
In other news, Garrett Geoffrey, Director sold 14,000 shares of the company’s stock on Sep 14. The stock was sold for $179,656 at an average price of $12.83. Upon completion of the transaction, the Director now directly owns 31,777 shares in the company, valued at $0.4 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Dec 16, Director Garrett Geoffrey sold 3,000 shares of the business’s stock. A total of $35,565 was realized by selling the stock at an average price of $11.86. This leaves the insider owning 33,604 shares of the company worth $0.42 million. Insiders disposed of 132,685 shares of company stock worth roughly $1.66 million over the past 1 year. A total of 2.42% 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 $27,630,000. HEITMAN REAL ESTATE SECURITIES LLC invested $16,245,000 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 $13,030,000. AMERICAN CENTURY COMPANIES INC acquired a new stake in PK for approximately $12,131,000. PEREGRINE CAPITAL MANAGEMENT LLC purchased a new stake in PK valued at around $8,745,000 in the second quarter. In total, there are 449 active investors with 92.46% ownership of the company’s stock.
On Thursday morning Park Hotels & Resorts Inc (NYSE: PK) stock kicked off with the opening price of $12.07. 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 $12.84 and a two-hundred day moving average price translates $12.87 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 -1.79% and return on equity was -1.14% 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 $664.85M 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 $0.56 dividend and a 4.50% 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 39.41%.
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.
