Park Hotels & Resorts Inc. (NYSE:PK) Announces Quarterly Dividend of $0.25

Park Hotels & Resorts Inc. (NYSE:PK) declared a quarterly dividend on Thursday, February 20th, Wall Street Journal reports. Shareholders of record on Monday, March 31st will be given a dividend of 0.25 per share by the financial services provider on Tuesday, April 15th. This represents a $1.00 dividend on an annualized basis and a yield of 7.68%. The ex-dividend date is Monday, March 31st.

Park Hotels & Resorts has a dividend payout ratio of 111.1% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Park Hotels & Resorts to earn $2.13 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 46.9%.

Park Hotels & Resorts Trading Down 0.5 %

Shares of Park Hotels & Resorts stock traded down $0.06 during mid-day trading on Thursday, hitting $13.03. 4,095,269 shares of the stock were exchanged, compared to its average volume of 3,388,629. The company has a 50-day simple moving average of $13.87 and a 200 day simple moving average of $14.32. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 1.24. The stock has a market capitalization of $2.69 billion, a price-to-earnings ratio of 8.30, a price-to-earnings-growth ratio of 1.51 and a beta of 2.00. Park Hotels & Resorts has a twelve month low of $12.56 and a twelve month high of $18.05.

Park Hotels & Resorts (NYSE:PK) last announced its earnings results on Wednesday, February 19th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.01). The firm had revenue of $625.00 million for the quarter, compared to analyst estimates of $609.05 million. Park Hotels & Resorts had a return on equity of 9.63% and a net margin of 12.66%. Research analysts forecast that Park Hotels & Resorts will post 1.97 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently commented on PK. Compass Point dropped 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. Wells Fargo & Company dropped their price objective on shares of Park Hotels & Resorts from $17.00 to $14.00 and set an “equal weight” rating for the company in a research note on Tuesday. Jefferies Financial Group decreased their target price on shares of Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating on the stock in a research report on Thursday, January 2nd. UBS Group dropped their price target on shares of Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating for the company in a research report on Monday, February 3rd. Finally, StockNews.com raised Park Hotels & Resorts from a “sell” rating to a “hold” rating in a research report on Thursday, February 13th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $18.15.

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.