Park Hotels & Resorts (NYSE:PK) Trading Down 3.2% – Should You Sell?

Park Hotels & Resorts Inc. (NYSE:PK) shares traded down 3.2% during mid-day trading on Wednesday . The stock traded as low as $10.50 and last traded at $10.4670. 278,498 shares traded hands during trading, a decline of 93% from the average session volume of 3,882,422 shares. The stock had previously closed at $10.81.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on PK. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Park Hotels & Resorts in a research report on Monday. UBS Group upped their target price on Park Hotels & Resorts from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Monday, October 6th. Truist Financial increased their target price on Park Hotels & Resorts from $11.00 to $12.00 and gave the company a “hold” rating in a research note on Thursday, December 4th. Evercore ISI reduced their price target on Park Hotels & Resorts from $13.00 to $12.00 and set an “in-line” rating on the stock in a research report on Thursday, November 20th. Finally, Citigroup cut Park Hotels & Resorts from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $13.00 to $12.00 in a report on Tuesday, September 9th. One analyst has rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Park Hotels & Resorts presently has a consensus rating of “Reduce” and an average price target of $11.10.

Park Hotels & Resorts Stock Performance

The company has a debt-to-equity ratio of 1.37, a current ratio of 1.04 and a quick ratio of 1.04. The stock has a 50-day moving average price of $10.66 and a 200-day moving average price of $10.93. The firm has a market capitalization of $2.09 billion, a PE ratio of -149.36 and a beta of 1.45.

Park Hotels & Resorts (NYSE:PK) last issued its quarterly earnings results on Thursday, October 30th. The financial services provider reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.08). Park Hotels & Resorts had a negative net margin of 0.47% and a negative return on equity of 1.25%. The business had revenue of $610.00 million during the quarter, compared to analysts’ expectations of $617.05 million. During the same period in the prior year, the company posted $0.49 EPS. The company’s revenue for the quarter was down 6.0% on a year-over-year basis. Park Hotels & Resorts has set its FY 2025 guidance at 1.850-1.970 EPS. On average, research analysts expect that Park Hotels & Resorts Inc. will post 2.11 EPS for the current fiscal year.

Park Hotels & Resorts Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.6%. The ex-dividend date is Wednesday, December 31st. Park Hotels & Resorts’s payout ratio is -1,428.57%.

Institutional Investors Weigh In On Park Hotels & Resorts

Several hedge funds and other institutional investors have recently modified their holdings of PK. Sculptor Capital LP raised its stake in shares of Park Hotels & Resorts by 154.1% in the 2nd quarter. Sculptor Capital LP now owns 6,534,153 shares of the financial services provider’s stock valued at $66,844,000 after purchasing an additional 3,962,304 shares in the last quarter. AQR Capital Management LLC increased its holdings in Park Hotels & Resorts by 76.7% in the second quarter. AQR Capital Management LLC now owns 7,744,912 shares of the financial services provider’s stock valued at $79,230,000 after buying an additional 3,361,382 shares during the last quarter. Bank of America Corp DE increased its holdings in Park Hotels & Resorts by 34.6% in the second quarter. Bank of America Corp DE now owns 12,870,552 shares of the financial services provider’s stock valued at $131,666,000 after buying an additional 3,309,275 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Park Hotels & Resorts during the third quarter valued at approximately $20,905,000. Finally, Allianz Asset Management GmbH lifted its holdings in Park Hotels & Resorts by 29.9% during the 3rd quarter. Allianz Asset Management GmbH now owns 4,447,474 shares of the financial services provider’s stock worth $49,278,000 after buying an additional 1,023,400 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

Park Hotels & Resorts Company Profile

Park Hotels & Resorts Inc is a publicly traded real estate investment trust (REIT) specializing in luxury and upper-upscale hospitality properties. The company’s primary business activity involves owning and leasing premier hotels and resorts across major urban and resort destinations. Through long-term management and franchise agreements with leading hotel operators, Park generates revenue from room nights, food and beverage offerings, meetings and events, and ancillary services.

Since its spin-off from Hilton Worldwide in January 2017, Park Hotels & Resorts has assembled a diversified portfolio of more than 60 properties.