On March 30, 2023,
Wells Fargo
downgraded
their outlook for Park Hotels & Resorts (NYSE:PK) from Overweight to Equal-Weight.
Analyst Price Forecast Suggests 44.69% Upside
As of March 30, 2023,
the average one-year price target for Park Hotels & Resorts is $16.99.
The forecasts range from a low of $13.13 to a high of $26.25.
The average price target represents an increase of 44.69% from its latest reported closing price of $11.74.
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 12.04%.
The projected annual non-GAAP EPS
is $0.59.
Park Hotels & Resorts Declares $0.15 Dividend
On March 15, 2023 the company declared a regular
quarterly dividend of $0.15 per share ($0.60 annualized).
Shareholders of record as of March 31, 2023
will receive the payment on April 17, 2023.
Previously, the company paid $0.25 per share.
At the current share price of $11.74 / share,
the stock’s dividend yield is 5.11%.
Looking back five years and taking a sample every week, the average dividend yield has been
5.06%,
the lowest has been 0.20%,
and the highest has been 13.96%.
The standard deviation of yields is 3.11 (n=141).
The current dividend yield is
0.02 standard deviations
above
the historical average.
Additionally, the company’s dividend payout ratio is 0.38.
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 are Large Shareholders Doing?
VGSIX – Vanguard Real Estate Index Fund Investor Shares
holds 10,583K shares
representing 4.77% ownership of the company.
In it’s prior filing, the firm reported owning 10,847K shares, representing
a decrease
of 2.50%.
The firm
decreased
its portfolio allocation in PK by 1.42% over the last quarter.
Goldman Sachs Group
holds 7,497K shares
representing 3.38% ownership of the company.
In it’s prior filing, the firm reported owning 4,650K shares, representing
an increase
of 37.98%.
The firm
increased
its portfolio allocation in PK by 63.45% over the last quarter.
PGGM Investments
holds 7,266K shares
representing 3.27% ownership of the company.
In it’s prior filing, the firm reported owning 7,596K shares, representing
a decrease
of 4.55%.
The firm
decreased
its portfolio allocation in PK by 0.31% over the last quarter.
IJH – iShares Core S&P Mid-Cap ETF
holds 6,943K shares
representing 3.13% ownership of the company.
In it’s prior filing, the firm reported owning 6,558K shares, representing
an increase
of 5.55%.
The firm
decreased
its portfolio allocation in PK by 3.24% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares
holds 6,491K shares
representing 2.93% ownership of the company.
In it’s prior filing, the firm reported owning 6,017K shares, representing
an increase
of 7.30%.
The firm
increased
its portfolio allocation in PK by 4.31% over the last quarter.
What is the Fund Sentiment?
There are 658 funds or institutions reporting positions in Park Hotels & Resorts.
This is a decrease
of
16
owner(s) or 2.37% in the last quarter.
Average portfolio weight of all funds dedicated to PK is 0.22%,
a decrease
of 7.53%.
Total shares owned by institutions decreased
in the last three months by 1.53% to 224,116K shares.
The put/call ratio of PK is 0.99, indicating a
bullish
outlook.
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.
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.
