Park Hotels & Resorts (NYSE:PK) Sets New 52-Week Low – Should You Sell?

Shares of Park Hotels & Resorts Inc. (NYSE:PK) hit a new 52-week low on Tuesday . The stock traded as low as $12.75 and last traded at $12.75, with a volume of 112372 shares changing hands. The stock had previously closed at $12.94.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on PK shares. StockNews.com lowered shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a report on Wednesday, February 5th. Wells Fargo & Company upped their price objective on shares of Park Hotels & Resorts from $16.00 to $17.00 and gave the company an “equal weight” rating in a research note on Monday, December 9th. Compass Point lowered their price target on Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. UBS Group reduced their target price on Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating on the stock in a research note on Monday, February 3rd. Finally, Jefferies Financial Group cut their price target on shares of Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Park Hotels & Resorts currently has a consensus rating of “Hold” and a consensus price target of $18.45.

Park Hotels & Resorts Trading Up 0.2 %

The stock’s fifty day moving average price is $14.31 and its 200 day moving average price is $14.43. The stock has a market cap of $2.68 billion, a P/E ratio of 8.26 and a beta of 2.00. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 1.24.

Park Hotels & Resorts Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 20.05%. The ex-dividend date of this dividend was Tuesday, December 31st. This is a boost from Park Hotels & Resorts’s previous quarterly dividend of $0.25. Park Hotels & Resorts’s dividend payout ratio is 63.69%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. bought a new position in shares of Park Hotels & Resorts in the 3rd quarter worth approximately $33,000. Venturi Wealth Management LLC boosted its stake in shares of Park Hotels & Resorts by 281.6% during the 3rd quarter. Venturi Wealth Management LLC now owns 3,850 shares of the financial services provider’s stock worth $54,000 after acquiring an additional 2,841 shares during the last quarter. Claro Advisors LLC bought a new stake in shares of Park Hotels & Resorts during the 3rd quarter valued at $69,000. Covestor Ltd increased its stake in shares of Park Hotels & Resorts by 64.8% in the 3rd quarter. Covestor Ltd now owns 6,894 shares of the financial services provider’s stock worth $97,000 after purchasing an additional 2,711 shares in the last quarter. Finally, KBC Group NV raised its holdings in Park Hotels & Resorts by 34.4% in the 3rd quarter. KBC Group NV now owns 7,360 shares of the financial services provider’s stock worth $104,000 after purchasing an additional 1,882 shares during the period. Institutional investors own 92.69% of the company’s stock.

About Park Hotels & Resorts

Park Hotels & Resorts, Inc operates as a real estate investment trust, which owns and operates hotels and resorts. It operates through the Consolidated Hotels and Unconsolidated Hotels segments. Its portfolio of hotels and resorts include the Waldorf Astoria Hotels and Resorts, Conrad Hotels & Resorts, Hilton Hotels & Resorts, DoubleTree by Hilton, Embassy Suites by Hilton, Hilton Garden Inn, Hampton by Hilton, and Curio.