Park Hotels & Resorts (NYSE:PK) Given New $18.00 Price Target at UBS Group

by · The Markets Daily

Park Hotels & Resorts (NYSE:PK – Free Report) had its price target hoisted by UBS Group from $14.00 to $18.00 in a research report report published on Wednesday morning, Benzinga reports. UBS Group currently has a neutral rating on the financial services provider’s stock.

A number of other research firms have also commented on PK. StockNews.com lowered Park Hotels & Resorts from a hold rating to a sell rating in a research note on Wednesday, February 28th. JPMorgan Chase & Co. raised Park Hotels & Resorts from an underweight rating to a neutral rating and lifted their target price for the stock from $11.00 to $16.00 in a research report on Thursday, December 14th. Wells Fargo & Company lifted their target price on Park Hotels & Resorts from $15.00 to $17.00 and gave the stock an equal weight rating in a research report on Friday, December 22nd. Barclays lifted their target price on Park Hotels & Resorts from $19.00 to $21.00 and gave the stock an overweight rating in a research report on Friday, March 1st. Finally, Morgan Stanley lifted their target price on Park Hotels & Resorts from $12.00 to $13.00 and gave the stock an equal weight rating in a research report on Tuesday, November 7th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Park Hotels & Resorts presently has a consensus rating of Hold and an average price target of $16.91.

View Our Latest Stock Report on Park Hotels & Resorts

Park Hotels & Resorts Trading Up 0.3 %

Park Hotels & Resorts stock opened at $17.18 on Wednesday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.30 and a current ratio of 1.30. The business’s 50-day simple moving average is $15.84 and its 200-day simple moving average is $14.29. The firm has a market capitalization of $3.62 billion, a PE ratio of 37.35, a PEG ratio of 0.66 and a beta of 2.02. Park Hotels & Resorts has a 52 week low of $10.70 and a 52 week high of $17.78.

Park Hotels & Resorts Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 29th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 5.82%. This is an increase from Park Hotels & Resorts’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Wednesday, March 27th. Park Hotels & Resorts’s payout ratio is presently 808.70%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Point72 Hong Kong Ltd bought a new position in shares of Park Hotels & Resorts in the fourth quarter valued at approximately $27,000. Quarry LP bought a new position in Park Hotels & Resorts in the 4th quarter worth approximately $29,000. Raleigh Capital Management Inc. bought a new position in Park Hotels & Resorts in the 4th quarter worth approximately $35,000. FNY Investment Advisers LLC bought a new position in Park Hotels & Resorts in the 4th quarter worth approximately $42,000. Finally, Covestor Ltd raised its position in Park Hotels & Resorts by 614.1% in the 2nd quarter. Covestor Ltd now owns 4,256 shares of the financial services provider’s stock worth $55,000 after purchasing an additional 3,660 shares during the last quarter. Institutional investors own 91.40% of the company’s stock.

Park Hotels & Resorts Company Profile

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Park is one of the largest publicly traded lodging REITs with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value. Park's portfolio currently consists of 43 premium-branded hotels and resorts with over 26,000 rooms primarily located in prime city center and resort locations.

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