PK

Jefferies Upgrades Park Hotels & Resorts (PK)

Fintel reports that on January 2, 2024, Jefferies upgraded their outlook for Park Hotels & Resorts (NYSE:PK) from Hold to Buy .

Analyst Price Forecast Suggests 10.00% Upside

As of December 16, 2023, the average one-year price target for Park Hotels & Resorts is 16.83. The forecasts range from a low of 13.13 to a high of $26.25. The average price target represents an increase of 10.00% from its latest reported closing price of 15.30.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Park Hotels & Resorts is 2,819MM, an increase of 3.49%. The projected annual non-GAAP EPS is 0.59.

Park Hotels & Resorts Declares $0.93 Dividend

On November 30, 2023 the company declared a regular quarterly dividend of $0.93 per share ($3.72 annualized). Shareholders of record as of December 29, 2023 will receive the payment on January 16, 2024. Previously, the company paid $0.15 per share.

At the current share price of $15.30 / share, the stock's dividend yield is 24.31%.

Looking back five years and taking a sample every week, the average dividend yield has been 4.47%, the lowest has been 0.20%, and the highest has been 13.96%. The standard deviation of yields is 3.21 (n=139).

The current dividend yield is 6.17 standard deviations above the historical average.

Additionally, the company's dividend payout ratio is -5.17. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

What is the Fund Sentiment?

There are 669 funds or institutions reporting positions in Park Hotels & Resorts. This is a decrease of 9 owner(s) or 1.33% in the last quarter. Average portfolio weight of all funds dedicated to PK is 0.22%, an increase of 4.88%. Total shares owned by institutions increased in the last three months by 0.92% to 221,882K shares. PK / Park Hotels & Resorts Inc. Put/Call Ratios The put/call ratio of PK is 1.31, indicating a bearish outlook.

What are Other Shareholders Doing?

PK / Park Hotels & Resorts Inc. Shares Held by Institutions

Goldman Sachs Group holds 10,165K shares representing 4.84% ownership of the company. In it's prior filing, the firm reported owning 11,358K shares, representing a decrease of 11.75%. The firm decreased its portfolio allocation in PK by 76.69% over the last quarter.

VGSIX - Vanguard Real Estate Index Fund Investor Shares holds 8,893K shares representing 4.24% ownership of the company. In it's prior filing, the firm reported owning 9,349K shares, representing a decrease of 5.12%. The firm decreased its portfolio allocation in PK by 4.44% over the last quarter.

Northwood Liquid Management holds 6,835K shares representing 3.25% ownership of the company. In it's prior filing, the firm reported owning 7,020K shares, representing a decrease of 2.71%. The firm decreased its portfolio allocation in PK by 16.40% over the last quarter.

IJH - iShares Core S&P Mid-Cap ETF holds 6,742K shares representing 3.21% ownership of the company. In it's prior filing, the firm reported owning 6,541K shares, representing an increase of 2.99%. The firm decreased its portfolio allocation in PK by 2.92% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 6,233K shares representing 2.97% ownership of the company. In it's prior filing, the firm reported owning 6,224K shares, representing an increase of 0.13%. The firm decreased its portfolio allocation in PK by 0.12% over the last quarter.

Park Hotels & Resorts Background Information
(This description is provided by the company.)

Park is the second largest publicly traded lodging REIT with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value. Park's portfolio currently consists of 60 premium-branded hotels and resorts with over 33,000 rooms primarily located in prime city center and resort locations.

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This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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