Many analysts have been discussing stock as their topic of choice in their writings and presentations. Morgan Stanley initiated coverage of Park Hotels & Resorts with the publication of a research report on that company’s stock on the following Monday, December 5. A price target of $15 per share was determined for the stock, and an “equal weight” rating was given. In a research note released on Tuesday, September 6, UBS Group stated that they would reduce their target price for Park Hotels & Resorts shares to $15.00. This information was included in the note. In a research note published on October 25, Deutsche Bank Aktiengesellschaft lowered their “buy” rating and price objective on Park Hotels & Resorts stock from $26.00 to $21.00.
Additionally, the price objective remained the same. On October 12, StockNews.com published a research note on the company’s status, which marked the beginning of the website’s coverage of the Park Hotels & Resorts corporation. They advised their clients to “hold” the stock moving forward. Finally, in a research note published on November 16, Truist Financial lowered its price target on Park Hotels & Resorts shares to $20 per share. The agenda was complete, and this was the final and most important item.
Recent events have resulted in several hedge funds and institutional investors adjusting the percentage of PK stock held within their investment portfolios. During the second quarter of the fiscal year, Harel Insurance Investments & Financial Services Ltd. opened a new position and invested in Park Hotels & Resorts. The investment was worth $45,000. During the third quarter of 2018, Wipfli Financial Advisors LLC invested in Park Hotels & Resorts, totaling approximately $45,000. The proportion of Park Hotels & Resorts owned by Lindbrook Capital LLC rose by 143.9% during the second quarter of this year. Lindbrook Capital LLC now directly owns 3,410 shares held by the financial services provider after purchasing 2,012 shares during the relevant time period. There is a value of $46,000 associated with these shares.
Furthermore, an astounding 851.0% of Lazard Asset Management LLC’s ownership stake in Park Hotels & Resorts was acquired during the second quarter of this year. As a result, Lazard Asset Management LLC now has 4,080 shares held by the financial services provider. These shares are currently valued at $55,000 because Lazard Asset Management LLC made additional purchases of 3,651 shares during the relevant period. And finally, during the third quarter, UMB Bank and the National Association increased the proportion of Park Hotels & Resorts stock they owned by a total of 2,813.0%. Following the completion of an additional purchase of 7,025 shares during the period, UMB Bank n.a. now possesses a total of 7,274 shares of the company, the value of which is currently estimated to be $82,000. At present, institutional investors own 91.73 percent of the equity in the company.
On Tuesday, trading began under the symbol PK for $11.92 per share.
The moving average for the past 200 days of the company’s stock price is $13.64, and the moving average for the last 50 days is $12.33. The stock currently has a price-to-earnings ratio of 41.10 and a beta value of 1.92. The market value of the company’s stock is approximately 2.68 billion dollars. The lowest price that the stock of Park Hotels & Resorts has been in the past year is $10.98, while the highest price that the stock has been in the past year is $20.58. While the current ratio is 3.24 and the quick ratio is also 3.24, the debt-to-equity ratio comes in at 1.08. In addition, the current ratio comes in at 1.08, while the quick ratio comes in at 1.08.
On November 2, the most recent quarterly earnings report for Park Hotels & Resorts, traded on the NYSE under the symbol PK, was made public. The earnings per share for the quarter for the financial services company were $0.15, which was $0.23 less than the average estimate of $0.38. The sales for the company for the quarter came in at $662 million, which is significantly higher than the $651.62 million market analysts had anticipated the company would make. As evidenced by their 2.67% net margin and 1.41% return on equity, Park Hotels & Resorts had a very successful performance, as seen in the previous sentence. According to projections made by sell-side analysts, each share of Park Hotels & Resorts will bring in an average of $1.42 in profits during the current financial year.
In addition, the company has recently announced a quarterly dividend, which is scheduled to be paid out on January 17 of this year. On December 30, a $0.25 dividend payment per share will be made to all shareholders recorded as owning the company as of the previous day. This translates to an annual dividend payment of $1 and a dividend yield of 8.39% for the stock. This represents an increase compared to the previous quarterly dividend payment of $0.01 that was made to shareholders by Park Hotels & Resorts. December 29, which is a Thursday, is the date that will mark the beginning of the “ex-dividend” status for this dividend. This brings Park Hotels & Resorts’s dividend payout ratio (DPR) up to 13.79% from its previous level.
Park is the second largest publicly traded lodging real estate investment trust (REIT). It possesses a substantial underlying real estate asset in addition to its extensive portfolio of hotels and resorts that are leaders in their respective industries. As a result, the park is the second-largest lodging real estate investment trust (REIT) in the United States. Park’s portfolio currently comprises sixty luxury hotels and resorts, with a combined total of more than 33,000 available guest rooms. The vast majority of these establishments can be found in the highly desirable resort and central business district locations.
The post Analysts have assigned a “Hold” rating to Park Hotels & Resorts Inc. (NYSE:PK). appeared first on Best Stocks.
