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Park Hotels & Resorts

NYSE:PK
Snowflake Description

Average dividend payer and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
PK
NYSE
$6B
Market Cap
  1. Home
  2. US
  3. Real Estate
Company description

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. The last earnings update was 14 days ago. More info.


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PK Share Price and Events
7 Day Returns
0.4%
NYSE:PK
1.8%
US REITs
-0.7%
US Market
1 Year Returns
-3.8%
NYSE:PK
16.3%
US REITs
3%
US Market
PK Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Park Hotels & Resorts (PK) 0.4% -2.7% 0.8% -3.8% - -
US REITs 1.8% 2.4% 3.1% 16.3% 13.8% 26.4%
US Market -0.7% -2% 2.4% 3% 39.2% 42%
1 Year Return vs Industry and Market
  • PK underperformed the REITs industry which returned 16.3% over the past year.
  • PK underperformed the Market in United States of America which returned 3% over the past year.
Price Volatility
PK
Industry
5yr Volatility vs Market

Value

 Is Park Hotels & Resorts undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Park Hotels & Resorts to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Park Hotels & Resorts.

NYSE:PK Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations
Levered Adjusted Funds From Operations Average of 10 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.7%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:PK
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
REITs Unlevered Beta Simply Wall St/ S&P Global 0.53
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.531 (1 + (1- 21%) (53.9%))
0.837
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.84
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.837 * 5.96%)
7.72%

Discounted Cash Flow Calculation for NYSE:PK using 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations Model

The calculations below outline how an intrinsic value for Park Hotels & Resorts is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Park Hotels & Resorts is a Real Estate Investment Trust (REIT), we use funds from operations (FFO) or adjusted funds from operations (AFFO) instead of levered free cash flow for REITs. This excludes depreciation and borrowing. Ideally analysts estimates of AFFO are used, where these aren't available we use FFO.

NYSE:PK DCF 1st Stage: Next 10 year cash flow forecast
Adjusted Funds From Operations (AFFO) (USD, Millions) Source Present Value
Discounted (@ 7.72%)
2019 461.00 Analyst x2 427.96
2020 448.50 Analyst x2 386.52
2021 434.00 Analyst x1 347.22
2022 428.40 Est @ -1.29% 318.18
2023 428.04 Est @ -0.08% 295.13
2024 431.30 Est @ 0.76% 276.06
2025 437.13 Est @ 1.35% 259.74
2026 444.84 Est @ 1.76% 245.38
2027 453.98 Est @ 2.05% 232.47
2028 464.23 Est @ 2.26% 220.68
Present value of next 10 years cash flows $3,009.32
NYSE:PK DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $464.23 × (1 + 2.73%) ÷ (7.72% – 2.73%)
$9,557.07
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $9,557.07 ÷ (1 + 7.72%)10
$4,543.18
NYSE:PK Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $3,009.32 + $4,543.18
$7,552.50
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $7,552.50 / 201.58
$37.47
NYSE:PK Discount to Share Price
Calculation Result
Value per share (USD) From above. $37.47
Current discount Discount to share price of $30.26
= -1 x ($30.26 - $37.47) / $37.47
19.2%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Park Hotels & Resorts is available for.
Intrinsic value
19%
Share price is $30.26 vs Future cash flow value of $37.47
Current Discount Checks
For Park Hotels & Resorts to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Park Hotels & Resorts's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • Park Hotels & Resorts's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Park Hotels & Resorts's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Park Hotels & Resorts's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:PK PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $2.07
NYSE:PK Share Price ** NYSE (2019-05-17) in USD $30.26
United States of America REITs Industry PE Ratio Median Figure of 156 Publicly-Listed REITs Companies 32.79x
United States of America Market PE Ratio Median Figure of 3,088 Publicly-Listed Companies 17.89x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Park Hotels & Resorts.

NYSE:PK PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:PK Share Price ÷ EPS (both in USD)

= 30.26 ÷ 2.07

14.58x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Park Hotels & Resorts is good value based on earnings compared to the US REITs industry average.
  • Park Hotels & Resorts is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does Park Hotels & Resorts's expected growth come at a high price?
Raw Data
NYSE:PK PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 14.58x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 10 Analysts
-10.5%per year
United States of America REITs Industry PEG Ratio Median Figure of 141 Publicly-Listed REITs Companies 2.4x
United States of America Market PEG Ratio Median Figure of 2,117 Publicly-Listed Companies 1.56x

*Line of best fit is calculated by linear regression .

NYSE:PK PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 14.58x ÷ -10.5%

-1.39x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Park Hotels & Resorts earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Park Hotels & Resorts's assets?
Raw Data
NYSE:PK PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $27.93
NYSE:PK Share Price * NYSE (2019-05-17) in USD $30.26
United States of America REITs Industry PB Ratio Median Figure of 191 Publicly-Listed REITs Companies 1.86x
United States of America Market PB Ratio Median Figure of 5,195 Publicly-Listed Companies 1.83x
NYSE:PK PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:PK Share Price ÷ Book Value per Share (both in USD)

= 30.26 ÷ 27.93

1.08x

* Primary Listing of Park Hotels & Resorts.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Park Hotels & Resorts is good value based on assets compared to the US REITs industry average.
X
Value checks
We assess Park Hotels & Resorts's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the REITs industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the REITs industry average (and greater than 0)? (1 check)
  5. Park Hotels & Resorts has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Park Hotels & Resorts expected to perform in the next 1 to 3 years based on estimates from 10 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-10.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Park Hotels & Resorts expected to grow at an attractive rate?
  • Park Hotels & Resorts's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Park Hotels & Resorts's earnings are expected to decrease over the next 1-3 years, this is below the United States of America market average.
  • Park Hotels & Resorts's revenues are expected to decrease over the next 1-3 years, this is below the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:PK Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:PK Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 10 Analysts -10.5%
NYSE:PK Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 10 Analysts -0.5%
United States of America REITs Industry Earnings Growth Rate Market Cap Weighted Average 5.7%
United States of America REITs Industry Revenue Growth Rate Market Cap Weighted Average 4.3%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.9%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.3%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:PK Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 10 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:PK Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 2,684 289 4
2020-12-31 2,709 613 321 10
2019-12-31 2,714 572 350 10
NYSE:PK Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 2,722 473 416
2018-12-31 2,730 444 470
2018-09-30 2,775 490 476
2018-06-30 2,813 527 526
2018-03-31 2,815 555 422
2017-12-31 2,831 653 2,617
2017-09-30 2,797 563 2,575
2017-06-30 2,780 454 2,507
2017-03-31 2,771 445 2,456
2016-12-31 2,747 399 133
2016-09-30 2,752 440 184
2016-06-30 2,762 529 182

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Park Hotels & Resorts's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Park Hotels & Resorts's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:PK Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 10 Analyst Estimates (S&P Global) See Below

All data from Park Hotels & Resorts Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:PK Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31
2020-12-31 1.60 1.80 1.43 4.00
2019-12-31 1.72 1.83 1.52 3.00
NYSE:PK Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 2.07
2018-12-31 2.32
2018-09-30 2.31
2018-06-30 2.51
2018-03-31 1.98
2017-12-31 12.40
2017-09-30 12.44
2017-06-30 12.35
2017-03-31 12.34
2016-12-31 0.67
2016-09-30 0.93
2016-06-30 0.92

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Park Hotels & Resorts is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Park Hotels & Resorts's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Park Hotels & Resorts has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Park Hotels & Resorts performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Park Hotels & Resorts's growth in the last year to its industry (REITs).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Park Hotels & Resorts's year on year earnings growth rate has been positive over the past 5 years, however the most recent earnings are below average.
  • Park Hotels & Resorts's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Park Hotels & Resorts's 1-year earnings growth is negative, it can't be compared to the US REITs industry average.
Earnings and Revenue History
Park Hotels & Resorts's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Park Hotels & Resorts Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:PK Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 2,722.00 416.00 117.00
2018-12-31 2,730.00 470.00 115.00
2018-09-30 2,775.00 476.00 119.00
2018-06-30 2,813.00 526.00 118.00
2018-03-31 2,815.00 422.00 120.00
2017-12-31 2,831.00 2,617.00 120.00
2017-09-30 2,797.00 2,575.00 116.00
2017-06-30 2,780.00 2,507.00 122.00
2017-03-31 2,771.00 2,456.00 125.00
2016-12-31 2,747.00 133.00 127.00
2016-09-30 2,752.00 184.00 128.00
2016-06-30 2,762.00 182.00 124.00
2016-03-31 2,757.00 167.00 133.00
2015-12-31 2,710.00 292.00 113.00
2014-12-31 2,529.00 176.00 116.00
2013-12-31 2,346.00 144.00 146.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Park Hotels & Resorts has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Park Hotels & Resorts used its assets more efficiently than the US REITs industry average last year based on Return on Assets.
  • Park Hotels & Resorts's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Park Hotels & Resorts's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the REITs industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Park Hotels & Resorts has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Park Hotels & Resorts's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Park Hotels & Resorts's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Park Hotels & Resorts is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Park Hotels & Resorts's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Park Hotels & Resorts's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.2x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Park Hotels & Resorts Company Filings, last reported 1 month ago.

NYSE:PK Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 5,580.00 3,288.00 276.00
2018-12-31 5,586.00 3,083.00 410.00
2018-09-30 5,728.00 3,083.00 399.00
2018-06-30 5,757.00 3,085.00 421.00
2018-03-31 5,715.00 3,084.00 172.00
2017-12-31 5,962.00 3,099.00 364.00
2017-09-30 6,023.00 3,221.00 357.00
2017-06-30 6,001.00 3,224.00 306.00
2017-03-31 5,971.00 3,222.00 318.00
2016-12-31 3,823.00 3,222.00 337.00
2016-09-30 4,071.00 3,080.00 346.00
2016-06-30 2,907.00 4,114.00 198.00
2016-03-31 2,860.00 4,114.00 116.00
2015-12-31 2,797.00 4,109.00 72.00
2014-12-31 2,593.00 4,253.00 42.00
2013-12-31
  • Park Hotels & Resorts's level of debt (58.9%) compared to net worth is high (greater than 40%).
  • Unable to establish if Park Hotels & Resorts's debt level has increased without past 5-year debt data.
  • Debt is not well covered by operating cash flow (14.4%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 3.4x coverage).
X
Financial health checks
We assess Park Hotels & Resorts's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Park Hotels & Resorts has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Park Hotels & Resorts's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
6.58%
Current annual income from Park Hotels & Resorts dividends. Estimated to be 6.32% next year.
If you bought $2,000 of Park Hotels & Resorts shares you are expected to receive $132 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Park Hotels & Resorts's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.44%).
  • Park Hotels & Resorts's dividend is above the markets top 25% of dividend payers in United States of America (3.69%).
Upcoming dividend payment

Purchase Park Hotels & Resorts before the 'Buy Limit' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:PK Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 10 Analyst Estimates (S&P Global) See Below
United States of America REITs Industry Average Dividend Yield Market Cap Weighted Average of 184 Stocks 3.9%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2000 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:PK Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 1.95 4.00
2020-12-31 1.90 12.00
2019-12-31 1.92 10.00
NYSE:PK Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-02-28 1.990 6.338
2019-02-27 1.990 6.414
2018-03-01 1.840 6.161
2017-12-13 2.200 7.800
2017-11-02 1.720 5.978
2017-08-03 1.720 6.317
2017-08-02 1.720 6.536
2017-01-09 1.720 6.458

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Park Hotels & Resorts has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Dividend payments have increased, but Park Hotels & Resorts only paid a dividend in the past 2 years.
Current Payout to shareholders
What portion of Park Hotels & Resorts's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.2x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be thoroughly covered by earnings (313.5x coverage).
X
Income/ dividend checks
We assess Park Hotels & Resorts's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Park Hotels & Resorts afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Park Hotels & Resorts has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Park Hotels & Resorts's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Tom Baltimore
COMPENSATION $7,601,165
AGE 55
TENURE AS CEO 2.4 years
CEO Bio

Mr. Thomas Jeremiah Baltimore Jr., also known as Tom, has been Director at AutoNation, Inc. since April 18, 2019. He has been the Chief Executive Officer and President at Park Hotels & Resorts Inc. since May 16, 2016. He is the Chair of Nareit®. He has been a Director of Real Estate Roundtable since July 1, 2018. He co-founded RLJ Lodging Trust in 2011 and served as its Chief Executive Officer and President from May 2011 to May 11, 2016. He Co-Founded RLJ Development at The RLJ Companies, LLC in 2000 and served as President since 2000 until 2011. Mr. Baltimore served as the President and Chief Executive Officer of the planned Hilton Real Estate Investment Trust Since May 2016 until January 2017. He was a seasoned hospitality executive with extensive transactional and finance experience. Between 1988 and 2000, he served in senior level positions at Hilton Hotels Corporation, Host Marriott Services Corporation and Marriott Corporation, where he was involved in business development, finance and acquisition roles. He served as a Vice President of Development & Finance at Hilton Hotels Corporation from 1999 to 2000 and served as its Vice President of Gaming Development from 1997 to 1998. From 1994 to 1996, Mr. Baltimore served as a Vice President of Business Development at HMSHost Corporation. He served as Vice President of Development and Finance at Hilton Worldwide Holdings Inc. He served as Staff Auditor at PricewaterhouseCoopers LLP. He had been with Marriott Corporation from 1988 to 1989 and from 1991 to 1993 including served as its Senior Director and Manager. He served as a Staff Auditor of Price Waterhouse. He serves on the Urban Land Institute’s Hotel Development Council and the Hilton Hotel Corporation’s Owner’s Advisory Board and was elected to Marriott’s MINA Board. He has been Chairman of the Board and Director at Park Hotels & Resorts Inc. since December 2016. Mr. Baltimore has been an Independent Director of Prudential Financial, Inc., since October 2008 and its Lead Independent Director since May 9, 2017. He serves as a Director of MedStar Health, Inc., The Prudential Insurance Company of America, Inc. and Thomas Jefferson University School Of Medicine. He served as a Director of Duke Realty Corporation from January 2009 to April 26, 2017. He is a Board Member of the University's Jefferson Scholars Foundation. He served as a Trustee of RLJ Lodging Trust until May 11, 2016. He served as a Director of Integra LifeSciences Holdings Corporation from March 2007 to August 27, 2012. He served as a Trustee of University Of Virginia Darden School Foundation Inc. He is also a Member of the National Association of Real Estate Investment Trusts Executive Board. He is a Member of the American Hotel & Lodging Association Industry Real Estate Finance Advisory Council (IREFAC). He was a recipient of the 1997 Baume & Mercier/Forbes magazine award recognizing “Ten Rising Business Stars of Our Time”. Mr. Baltimore holds an M.B.A. from the Colgate Darden Graduate School of Business Administration at the University of Virginia in 1991 and a B.S. from the McIntire School of Commerce at the University of Virginia in 1985.

CEO Compensation
  • Tom's compensation has been consistent with company performance over the past year.
  • Tom's remuneration is about average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Park Hotels & Resorts management team in years:

2.3
Average Tenure
46
Average Age
  • The tenure for the Park Hotels & Resorts management team is about average.
Management Team

Tom Baltimore

TITLE
Chairman
COMPENSATION
$8M
AGE
55
TENURE
2.4 yrs

Sean Dell'Orto

TITLE
Executive VP
COMPENSATION
$3M
AGE
43
TENURE
2.4 yrs

Matt Sparks

TITLE
Executive VP & Chief Investment Officer
COMPENSATION
$2M
AGE
57
TENURE
2.3 yrs

Tom Morey

TITLE
Executive VP
COMPENSATION
$2M
AGE
46

Rob Tanenbaum

TITLE
Executive Vice President of Asset Management
COMPENSATION
$2M
AGE
51
TENURE
2.3 yrs

Darren Robb

TITLE
Senior VP & Chief Accounting Officer
AGE
41
TENURE
2.4 yrs

Ian Weissman

TITLE
Senior Vice President of Corporate Strategy

Jill Olander

TITLE
Executive Vice President of Human Resources
AGE
44
TENURE
2.3 yrs

Scott Winer

TITLE
Senior Vice President of Tax

Diem Larsen

TITLE
Senior VP of Financial Planning & Analysis
TENURE
1.2 yrs
Board of Directors Tenure

Average tenure and age of the Park Hotels & Resorts board of directors in years:

2.3
Average Tenure
60.5
Average Age
  • The average tenure for the Park Hotels & Resorts board of directors is less than 3 years, this suggests a new board.
Board of Directors

Tom Baltimore

TITLE
Chairman
COMPENSATION
$8M
AGE
55
TENURE
2.4 yrs

Christie Kelly

TITLE
Director
COMPENSATION
$261K
AGE
56
TENURE
2.4 yrs

Tim Naughton

TITLE
Director
COMPENSATION
$256K
AGE
57
TENURE
2.3 yrs

Steve Sadove

TITLE
Director
COMPENSATION
$256K
AGE
66
TENURE
2.3 yrs

Gordon Bethune

TITLE
Lead Independent Director
COMPENSATION
$278K
AGE
77
TENURE
2.3 yrs

Patty Bedient

TITLE
Director
COMPENSATION
$243K
AGE
64
TENURE
2.3 yrs

Joseph Lieberman

TITLE
Director
COMPENSATION
$244K
AGE
76
TENURE
2.3 yrs

Geoffrey Garrett

TITLE
Director
COMPENSATION
$236K
AGE
57
TENURE
1.9 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
X
Management checks
We assess Park Hotels & Resorts's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Park Hotels & Resorts has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Is Park Hotels & Resorts Inc. (NYSE:PK) An Attractive Dividend Stock?

(NYSE:PK) be an attractive dividend share to own for the long haul? Investors are often drawn to a company for its dividend.. … Unfortunately, one common occurrence with dividend companies is for investors to be enticed in by the seemingly attractive yield, and lose money when the company has to cut its dividend payments.. … Park Hotels & Resorts pays a 6.4% dividend yield, and has been paying dividends for the past two years.!

Simply Wall St -

Is Now An Opportune Moment To Examine Park Hotels & Resorts Inc. (NYSE:PK)?

Park Hotels & Resorts Inc. … (NYSE:PK), which is in the reits business, and is based in United States,. … Let’s take a look at Park Hotels & Resorts’s outlook and value based on the most recent financial data to see if the opportunity still exists

Simply Wall St -

Introducing Park Hotels & Resorts, A Stock That Climbed 18% In The Last Year

Park Hotels & Resorts hasn't been listed for long, so it's still not clear if it is a long term winner. … One imperfect but simple way to consider how the market perception of a company has shifted is to compare the change in the earnings per share (EPS) with the share price movement. … We haven't seen Park Hotels & Resorts increase dividend payments yet, so the yield probably hasn't helped drive the share higher.

Simply Wall St -

Read This Before Buying Park Hotels & Resorts Inc. (NYSE:PK) Shares

So before you buy or sell Park Hotels & Resorts Inc. … Park Hotels & Resorts Insider Transactions Over The Last Year. … That means that an insider was selling shares at below the current price (US$30.28).

Simply Wall St -

Should You Think About Buying Park Hotels & Resorts Inc. (NYSE:PK) Now?

Park Hotels & Resorts Inc. … A question to answer is whether Park Hotels & Resorts's current trading price of $25.82 reflective of the actual value of the? … Let’s take a look at Park Hotels & Resorts’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change

Simply Wall St -

A Closer Look At Park Hotels & Resorts Inc's (NYSE:PK) Impressive ROE

By way of learning-by-doing, we'll look at ROE to gain a better understanding Park Hotels & Resorts Inc (NYSE:PK). … Our data shows Park Hotels & Resorts has a return on equity of 8.4% for the last year. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

One Metric To Rule Them All: Park Hotels & Resorts Inc (NYSE:PK)

real estate investment trust (REIT) based in Tysons, United States. … REITs are basically a portfolio of income-producing real estate investments, which are owned and operated by management of that trust company. … A common financial term REIT investors should know is Funds from Operations, or FFO for short, which is a REIT's main source of income from its portfolio of property, such as rent

Simply Wall St -

Why Are Insiders Bearish About Park Hotels & Resorts Inc's (NYSE:PK) Stock?

Park is a leading lodging REIT with a diverse portfolio of hotels and resorts with significant underlying real estate value. … Park Hotels & Resorts's insiders have divested from. … Generally, insiders selling shares in their own firm sends a bearish signal

Simply Wall St -

Park Hotels & Resorts Inc (NYSE:PK): Can It Deliver A Superior ROE To The Industry?

I am writing today to help inform people who are new to the stock market. … and want a simplistic look at the return on Park Hotels & Resorts Inc (NYSE:PK) stock. … Park Hotels & Resorts Inc (NYSE:PK) delivered an ROE of 7.52% over the past 12 months, which is relatively in-line with its industry average of 7.63% during the same period.

Simply Wall St -

Brokers' Outlook On Park Hotels & Resorts Inc (NYSE:PK)

It's crucial to understand if a company has a strong future based on its current operations and financial status. … Alarm bells rang in my head when I saw PK's high level of debt at 0.54x equity, and its low level of cash generated from its core operating activities, covering a mere 18.00% of debt. … Or the very least, reduce debt to a more prudent level if cash generated from operating activities is insufficient to cushion for potential future headwinds.

Simply Wall St -

Company Info

Description

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 consists of 51 premium-branded hotels and resorts with over 30,000 rooms, a substantial portion of which are located in prime United States markets with high barriers to entry.

Details
Name: Park Hotels & Resorts Inc.
PK
Exchange: NYSE
Founded:
$6,099,735,422
201,577,509
Website: http://www.pkhotelsandresorts.com
Address: Park Hotels & Resorts Inc.
1775 Tysons Boulevard,
7th Floor,
Tysons,
Virginia, 22102,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE PK Common Stock New York Stock Exchange US USD 13. Dec 2016
DB HIP Common Stock Deutsche Boerse AG DE EUR 13. Dec 2016
LSE 0KFU Common Stock London Stock Exchange GB USD 13. Dec 2016
Number of employees
Current staff
Staff numbers
517
Park Hotels & Resorts employees.
Industry
Hotel and Resort REITs
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/20 03:17
End of day share price update: 2019/05/17 00:00
Last estimates confirmation: 2019/05/16
Last earnings filing: 2019/05/06
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.