Park Hotels & Resorts (NYSE:PK – Get Free Report) had its price target raised by analysts at Cantor Fitzgerald from $12.00 to $15.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. Cantor Fitzgerald’s price target indicates a potential upside of 3.38% from the stock’s current price.
Several other equities analysts have also recently weighed in on PK. Morgan Stanley increased their price objective on shares of Park Hotels & Resorts from $10.50 to $11.00 and gave the stock an “equal weight” rating in a research note on Friday, July 17th. BMO Capital Markets reissued a “market perform” rating and issued a $14.00 price objective on shares of Park Hotels & Resorts in a research note on Friday, June 12th. LADENBURG THALM/SH SH lifted their target price on shares of Park Hotels & Resorts from $16.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, June 16th. Truist Financial upped their target price on shares of Park Hotels & Resorts from $12.00 to $13.00 and gave the stock a “hold” rating in a report on Tuesday, May 26th. Finally, Weiss Ratings upgraded Park Hotels & Resorts from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, May 20th. One analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price of $13.55.
View Our Latest Stock Report on PK
Park Hotels & Resorts Stock Performance
Park Hotels & Resorts (NYSE:PK – Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $0.24 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.24. Park Hotels & Resorts had a negative return on equity of 5.23% and a negative net margin of 6.41%.The firm had revenue of $680.00 million for the quarter, compared to the consensus estimate of $659.68 million. During the same period last year, the business posted $0.64 EPS. The company’s revenue for the quarter was up 1.2% on a year-over-year basis. As a group, equities research analysts expect that Park Hotels & Resorts will post 1.79 earnings per share for the current year.
Institutional Investors Weigh In On Park Hotels & Resorts
A number of institutional investors and hedge funds have recently modified their holdings of PK. Mitsubishi UFJ Trust & Banking Corp raised its stake in shares of Park Hotels & Resorts by 106.9% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 191,712 shares of the financial services provider’s stock worth $2,005,000 after acquiring an additional 99,051 shares in the last quarter. Donald Smith & CO. Inc. boosted its position in shares of Park Hotels & Resorts by 14.2% in the 4th quarter. Donald Smith & CO. Inc. now owns 14,617,921 shares of the financial services provider’s stock worth $152,903,000 after purchasing an additional 1,813,338 shares in the last quarter. Sivia Capital Partners LLC acquired a new position in Park Hotels & Resorts during the 2nd quarter valued at about $230,000. Matthew 25 Management Corp boosted its holdings in Park Hotels & Resorts by 61.1% in the fourth quarter. Matthew 25 Management Corp now owns 765,000 shares of the financial services provider’s stock worth $8,002,000 after acquiring an additional 290,000 shares in the last quarter. Finally, Legal & General Group Plc increased its holdings in shares of Park Hotels & Resorts by 15.9% during the fourth quarter. Legal & General Group Plc now owns 1,339,137 shares of the financial services provider’s stock valued at $14,007,000 after acquiring an additional 183,882 shares in the last quarter. 92.69% of the stock is owned by institutional investors.
About Park Hotels & Resorts
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.
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