Park Hotels & Resorts (NYSE:PK) Price Target Lowered to $14.00 at Wells Fargo & Company

Park Hotels & Resorts (NYSE:PK) had its target price lowered by Wells Fargo & Company from $17.00 to $14.00 in a research report report published on Tuesday,Benzinga reports. The firm currently has an equal weight rating on the financial services provider’s stock.

Other equities research analysts have also recently issued reports about the stock. Bank of America decreased their price target on shares of Park Hotels & Resorts from $17.00 to $16.50 and set a “neutral” rating on the stock in a research note on Monday, October 21st. StockNews.com upgraded Park Hotels & Resorts from a “sell” rating to a “hold” rating in a research note on Thursday, February 13th. Compass Point lowered their target price on Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. UBS Group dropped their target price on Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating on the stock in a report on Monday, February 3rd. Finally, Jefferies Financial Group decreased their price target on Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Park Hotels & Resorts presently has an average rating of “Moderate Buy” and a consensus target price of $18.15.

Park Hotels & Resorts Stock Up 2.3 %

Shares of NYSE:PK opened at $13.18 on Tuesday. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 1.24. The company has a market capitalization of $2.72 billion, a P/E ratio of 8.39 and a beta of 2.00. Park Hotels & Resorts has a 52-week low of $12.56 and a 52-week high of $18.05. The stock’s fifty day simple moving average is $13.96 and its 200-day simple moving average is $14.34.

Park Hotels & Resorts Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.65 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This is a positive change from Park Hotels & Resorts’s previous quarterly dividend of $0.25. This represents a $2.60 dividend on an annualized basis and a dividend yield of 19.73%. Park Hotels & Resorts’s payout ratio is 63.69%.

Hedge Funds Weigh In On Park Hotels & Resorts

Hedge funds and other institutional investors have recently modified their holdings of the stock. Creative Planning lifted its stake in shares of Park Hotels & Resorts by 1,068.6% in the 3rd quarter. Creative Planning now owns 306,061 shares of the financial services provider’s stock valued at $4,315,000 after purchasing an additional 279,871 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in Park Hotels & Resorts by 19.6% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 42,708 shares of the financial services provider’s stock valued at $602,000 after buying an additional 6,986 shares in the last quarter. Claro Advisors LLC acquired a new stake in shares of Park Hotels & Resorts in the third quarter worth about $69,000. Allspring Global Investments Holdings LLC boosted its stake in shares of Park Hotels & Resorts by 488.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 83,473 shares of the financial services provider’s stock worth $1,177,000 after acquiring an additional 69,296 shares in the last quarter. Finally, International Assets Investment Management LLC increased its holdings in shares of Park Hotels & Resorts by 1,310.0% during the 3rd quarter. International Assets Investment Management LLC now owns 21,785 shares of the financial services provider’s stock valued at $307,000 after acquiring an additional 20,240 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Park Hotels & Resorts Company Profile

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.