Truist Financial Cuts Park Hotels & Resorts (NYSE:PK) Price Target to $20.00

Park Hotels & Resorts (NYSE:PKFree Report) had its price target trimmed by Truist Financial from $21.00 to $20.00 in a research note released on Thursday morning, Benzinga reports. The firm currently has a buy rating on the financial services provider’s stock.

PK has been the subject of a number of other reports. Wells Fargo & Company increased their price objective on Park Hotels & Resorts from $17.00 to $18.00 and gave the company an equal weight rating in a report on Thursday, March 21st. UBS Group increased their price objective on Park Hotels & Resorts from $14.00 to $18.00 and gave the company a neutral rating in a report on Wednesday, March 6th. StockNews.com upgraded Park Hotels & Resorts from a sell rating to a hold rating in a report on Wednesday, May 1st. Wedbush restated a neutral rating and issued a $17.00 price objective on shares of Park Hotels & Resorts in a report on Tuesday, May 28th. Finally, Barclays increased their price objective on Park Hotels & Resorts from $21.00 to $22.00 and gave the company an overweight rating in a report on Friday, May 24th. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Park Hotels & Resorts currently has a consensus rating of Hold and an average target price of $17.83.

Read Our Latest Stock Report on Park Hotels & Resorts

Park Hotels & Resorts Stock Up 2.0 %

Shares of NYSE:PK opened at $15.86 on Thursday. The company has a fifty day moving average of $16.54 and a 200-day moving average of $16.08. The company has a market capitalization of $3.34 billion, a PE ratio of 36.05, a price-to-earnings-growth ratio of 0.77 and a beta of 2.03. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.48 and a current ratio of 1.48. Park Hotels & Resorts has a 52-week low of $11.05 and a 52-week high of $18.05.

Park Hotels & Resorts (NYSE:PKGet Free Report) last announced its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.17). The company had revenue of $639.00 million for the quarter, compared to analyst estimates of $630.46 million. Park Hotels & Resorts had a return on equity of 3.08% and a net margin of 3.42%. On average, equities analysts predict that Park Hotels & Resorts will post 2.08 EPS for the current fiscal year.

Park Hotels & Resorts Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, June 28th. This represents a $1.00 dividend on an annualized basis and a yield of 6.31%. Park Hotels & Resorts’s dividend payout ratio (DPR) is currently 227.27%.

Hedge Funds Weigh In On Park Hotels & Resorts

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Retirement Systems of Alabama boosted its position in shares of Park Hotels & Resorts by 0.3% during the 1st quarter. Retirement Systems of Alabama now owns 263,688 shares of the financial services provider’s stock worth $4,612,000 after purchasing an additional 693 shares in the last quarter. Cascade Investment Advisors Inc. lifted its position in Park Hotels & Resorts by 1.1% in the 4th quarter. Cascade Investment Advisors Inc. now owns 66,222 shares of the financial services provider’s stock valued at $1,013,000 after acquiring an additional 725 shares in the last quarter. Signaturefd LLC lifted its position in Park Hotels & Resorts by 12.7% in the 4th quarter. Signaturefd LLC now owns 6,437 shares of the financial services provider’s stock valued at $98,000 after acquiring an additional 727 shares in the last quarter. Truist Financial Corp lifted its position in Park Hotels & Resorts by 3.8% in the 4th quarter. Truist Financial Corp now owns 22,335 shares of the financial services provider’s stock valued at $342,000 after acquiring an additional 816 shares in the last quarter. Finally, Spire Wealth Management lifted its position in Park Hotels & Resorts by 20.1% in the 3rd quarter. Spire Wealth Management now owns 5,145 shares of the financial services provider’s stock valued at $63,000 after acquiring an additional 860 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

About Park Hotels & Resorts

(Get Free Report)

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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Analyst Recommendations for Park Hotels & Resorts (NYSE:PK)

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