Park Hotels & Resorts
Market Cap
US$2.3b
Last Updated
2020/07/06 23:57 UTC
Data Sources
Company Financials +
Executive Summary
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.
Rewards
Risk Analysis
Snowflake Analysis
Fair value with imperfect balance sheet.
Similar Companies
Share Price & News
How has Park Hotels & Resorts's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: PK's share price has been volatile over the past 3 months.
Market Performance
7 Day Return
-5.1%
PK
3.1%
US REITs
4.3%
US Market
1 Year Return
-65.2%
PK
-10.0%
US REITs
7.4%
US Market
Return vs Industry: PK underperformed the US REITs industry which returned -9.7% over the past year.
Return vs Market: PK underperformed the US Market which returned 5% over the past year.
Shareholder returns
| PK | Industry | Market | |
|---|---|---|---|
| 7 Day | -5.1% | 3.1% | 4.3% |
| 30 Day | -26.5% | -4.7% | 0.5% |
| 90 Day | 30.6% | 14.1% | 23.0% |
| 1 Year | -61.9%-65.2% | -6.3%-10.0% | 9.7%7.4% |
| 3 Year | -53.8%-64.2% | 17.5%3.0% | 38.3%29.2% |
| 5 Year | n/a | 43.5%14.0% | 66.0%47.6% |
Price Volatility Vs. Market
How volatile is Park Hotels & Resorts's share price compared to the market and industry in the last 5 years?
Simply Wall St News
3 months ago | Simply Wall St
The Independent Director of Park Hotels & Resorts Inc. (NYSE:PK), Thomas Natelli, Just Bought 6.1% More Shares4 months ago | Simply Wall St
Park Hotels & Resorts Inc. Just Beat Earnings Expectations: Here's What Analysts Think Will Happen Next4 months ago | Simply Wall St
Investors Who Bought Park Hotels & Resorts (NYSE:PK) Shares A Year Ago Are Now Down 21%Valuation
Is Park Hotels & Resorts undervalued compared to its fair value and its price relative to the market?
>50%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: PK ($9.61) is trading below our estimate of fair value ($160.62)
Significantly Below Fair Value: PK is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: PK is unprofitable, so we can't compare its PE Ratio to the REITs industry average.
PE vs Market: PK is unprofitable, so we can't compare its PE Ratio to the US market.
Price to Earnings Growth Ratio
PEG Ratio: Insufficient data to calculate PK's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: PK is good value based on its PB Ratio (0.4x) compared to the US REITs industry average (1.4x).
Next Steps
Future Growth
How is Park Hotels & Resorts forecast to perform in the next 1 to 3 years based on estimates from 10 analysts?
116.5%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: PK is forecast to remain unprofitable over the next 3 years.
Earnings vs Market: PK is forecast to remain unprofitable over the next 3 years.
High Growth Earnings: PK is forecast to remain unprofitable over the next 3 years.
Revenue vs Market: PK's revenue (15.3% per year) is forecast to grow faster than the US market (9.3% per year).
High Growth Revenue: PK's revenue (15.3% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: PK is forecast to be unprofitable in 3 years.
Next Steps
Past Performance
How has Park Hotels & Resorts performed over the past 5 years?
-19.7%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: PK is currently unprofitable.
Growing Profit Margin: PK is currently unprofitable.
Past Earnings Growth Analysis
Earnings Trend: PK is unprofitable, and losses have increased over the past 5 years at a rate of -19.7% per year.
Accelerating Growth: Unable to compare PK's earnings growth over the past year to its 5-year average as it is currently unprofitable
Earnings vs Industry: PK is unprofitable, making it difficult to compare its past year earnings growth to the REITs industry (5.3%).
Return on Equity
High ROE: PK has a negative Return on Equity (-8.42%), as it is currently unprofitable.
Next Steps
Financial Health
How is Park Hotels & Resorts's financial position?
Financial Position Analysis
Short Term Liabilities: PK's short term assets ($1.5B) exceed its short term liabilities ($188.0M).
Long Term Liabilities: PK's short term assets ($1.5B) do not cover its long term liabilities ($5.5B).
Debt to Equity History and Analysis
Debt Level: PK's debt to equity ratio (86.7%) is considered high.
Reducing Debt: PK's debt to equity ratio has reduced from 159% to 86.7% over the past 5 years.
Debt Coverage: PK's debt is not well covered by operating cash flow (8.6%).
Interest Coverage: PK is unprofitable, therefore interest payments are not well covered by earnings.
Balance Sheet
Next Steps
Dividend
What is Park Hotels & Resorts's current dividend yield, its reliability and sustainability?
6.82%
Forecast Dividend Yield
Dividend Yield vs Market
Notable Dividend: Unable to evaluate PK's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.
High Dividend: Unable to evaluate PK's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.
Stability and Growth of Payments
Stable Dividend: Insufficient data to determine if PK's dividends per share have been stable in the past.
Growing Dividend: Insufficient data to determine if PK's dividend payments have been increasing.
Current Payout to Shareholders
Dividend Coverage: PK is not paying a notable dividend for the US market.
Future Payout to Shareholders
Future Dividend Coverage: No need to calculate the sustainability of PK's dividend in 3 years as they are not forecast to pay a notable one for the US market.
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
2.9yrs
Average management tenure
CEO
Tom Baltimore (57yo)
3.58yrs
Tenure
US$6,824,939
Compensation
Mr. Thomas Jeremiah Baltimore Jr., also known as Tom, has been Director at AutoNation, Inc. since April 18, 2019. He has been the Chief Executive Officer and President at Park Hotels & Resorts Inc. since M ...
CEO Compensation Analysis
Compensation vs Market: Tom's total compensation ($USD6.82M) is above average for companies of similar size in the US market ($USD4.71M).
Compensation vs Earnings: Tom's compensation has been consistent with company performance over the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Chairman | 3.58yrs | US$6.82m | 0.32% $7.2m | |
| Executive VP | 3.58yrs | US$2.55m | 0.081% $1.8m | |
| Executive VP | 0.50yr | US$1.91m | 0.052% $1.2m | |
| Executive Vice President of Design & Construction | 1.83yrs | US$1.87m | 0.035% $790.8k | |
| Senior VP & Chief Accounting Officer | 3.58yrs | no data | 0.018% $404.6k | |
| Senior Vice President of Corporate Strategy | no data | no data | no data | |
| Executive Vice President of Human Resources | 3.5yrs | no data | 0.028% $638.9k | |
| Senior Vice President of Tax | no data | no data | no data | |
| Senior VP of Financial Planning & Analysis | 2.33yrs | no data | no data | |
| Senior Vice President of Investments | 0.50yr | no data | no data |
2.9yrs
Average Tenure
47yo
Average Age
Experienced Management: PK's management team is considered experienced (2.9 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Chairman | 3.58yrs | US$6.82m | 0.32% $7.2m | |
| Lead Independent Director | 3.5yrs | US$270.03k | 0.015% $329.9k | |
| Independent Director | 3.5yrs | US$247.80k | 0.027% $612.2k | |
| Independent Director | 3.5yrs | US$247.44k | 0.022% $496.5k | |
| Independent Director | 0.83yr | US$108.79k | 0.037% $839.5k | |
| Independent Director | 0.83yr | US$108.79k | 0.068% $1.5m | |
| Independent Director | 3.5yrs | US$234.92k | 0.021% $476.8k | |
| Independent Director | 3.58yrs | US$252.42k | 0.022% $504.4k | |
| Independent Director | 3.08yrs | US$227.93k | 0.014% $309.5k | |
| Independent Director | 3.5yrs | US$236.65k | 0.015% $329.9k |
3.5yrs
Average Tenure
63yo
Average Age
Experienced Board: PK's board of directors are considered experienced (3.5 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: PK insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 16.9%.
Top Shareholders
Company Information
Park Hotels & Resorts Inc.'s company bio, employee growth, exchange listings and data sources
Key Information
- Name: Park Hotels & Resorts Inc.
- Ticker: PK
- Exchange: NYSE
- Founded:
- Industry: Hotel and Resort REITs
- Sector: Real Estate
- Market Cap: US$2.264b
- Shares outstanding: 235.59m
- Website: https://www.pkhotelsandresorts.com
Number of Employees
Location
- Park Hotels & Resorts Inc.
- 1775 Tysons Boulevard
- 7th Floor
- Tysons
- Virginia
- 22102
- United States
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| PK | NYSE (New York Stock Exchange) | Yes | Common Stock | US | USD | Dec 2016 |
| HIP | DB (Deutsche Boerse AG) | Yes | Common Stock | DE | EUR | Dec 2016 |
| 0KFU | LSE (London Stock Exchange) | Yes | Common Stock | GB | USD | Dec 2016 |
Biography
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.
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/07/06 23:57 |
| End of Day Share Price | 2020/07/06 00:00 |
| Earnings | 2020/03/31 |
| Annual Earnings | 2019/12/31 |
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.