|Bid||25.98 x 800|
|Ask||26.00 x 1000|
|Day's Range||25.70 - 26.15|
|52 Week Range||23.02 - 33.33|
|Beta (3Y Monthly)||1.36|
|PE Ratio (TTM)||18.53|
|Earnings Date||Oct 30, 2019 - Nov 4, 2019|
|Forward Dividend & Yield||1.80 (6.94%)|
|1y Target Est||29.13|
Park Hotels & Resorts Inc. (PK) (“Park” or the “Company”) has completed its previously announced acquisition of Chesapeake Lodging Trust (“Chesapeake”). The announcement follows approval of the transaction by Chesapeake’s shareholders at a special meeting of Chesapeake shareholders held on September 10, 2019. In connection with the acquisition, Park will be added to the S&P MidCap 400 Index effective today.
Pebblebrook Hotel's (PEB) sale of Rouge Hotel is in line with its strategic disposition program that aims to optimize portfolio reduce leverage levels by repayment of outstanding debt.
NEW YORK , Sept. 12, 2019 /PRNewswire/ -- Park Hotels & Resorts Inc. (NYSE: PK) will replace Inogen Inc. (NASD: INGN) in the S&P MidCap 400 and Inogen will replace Chesapeake Lodging Trust (NYSE: CHSP) ...
Amid active transaction market, Host Hotels & Resorts (HST) monetizes six low RevPAR, non-core assets. While this will enhance portfolio quality, it might result in near-term earnings dilution.
Tysons-based Park Hotels & Resorts Inc. is locking down funding for its acquisition of Arlington’s Chesapeake Lodging Trust and is on track to close the deal this month. Park (NYSE: BK) announced Wednesday it has entered a $950 million unsecured delayed-draw term loan agreement with Bank of America to finance the deal. The term facility includes a $100 million two-year tranche and an $850 million five-year tranche.
Park Hotels & Resorts Inc. (“Park” or “the Company”) (PK) today announced that it entered into a $950 million unsecured delayed draw term loan agreement (“Term Facility”) in order to help finance its previously announced proposed acquisition (“Acquisition”) of Chesapeake Lodging Trust (“Chesapeake”). The Term Facility consists of a $100 million two-year tranche (“Two-Year Tranche”) and an $850 million five-year tranche (“Five-Year Tranche”). Terms of the Term Facility are materially consistent with the Company’s outstanding corporate revolver and term loan facility.
Today we'll take a closer look at Park Hotels & Resorts Inc. (NYSE:PK) from a dividend investor's perspective. Owning...
Several of the region’s hoteliers and hotel property owners are trying to temper investors’ expectations for the remainder of the year.
NEW YORK , Aug. 9, 2019 /PRNewswire/ -- Cohen & Steers, Inc. (NYSE: CNS) announced today pending changes to its Realty Majors Portfolio Index (RMP), International Realty Majors Portfolio Index (IRP) and ...
The owner of the DoubleTree by Hilton in Crystal City is gearing up for a play to capitalize on the 627-room hotel’s proximity to Amazon.com Inc.'s second headquarters. Tom Baltimore, CEO of the hotel’s owner, Park Hotels & Resorts (NYSE: PK), told analysts on its second-quarter earnings call Thursday that the hotel is one of several the company is evaluating as possible redevelopment opportunities. Baltimore noted the hotel, located at 300 Army Navy Drive, is “at the front door of Amazon’s office complex and expanded development here in Arlington and the D.C. area.” The back of the hotel property is just across South Eads Street from the planned Metropolitan Park development, which JBG Smith Properties (NYSE: JBGS) will sell to Amazon (NASDAQ: AMZN) for part of its HQ2 campus. “We’re working internally and also with Hilton about redevelopment of that asset and converting that brand possibly to a Hilton,” Baltimore said.
Park Hotels & Resorts Inc. (PK) delivered FFO and revenue surprises of -3.57% and 1.53%, respectively, for the quarter ended June 2019. Do the numbers hold clues to what lies ahead for the stock?
Is Park Hotels & Resorts Inc. (NYSE:PK) a good stock to buy right now? We at Insider Monkey like to examine what billionaires and hedge funds think of a company before doing days of research on it. Given their 2 and 20 payment structure, hedge funds have more incentives and resources than the average investor. […]
There’s no room left at 1775 Tysons Blvd. WeWork inked a deal Thursday to expand its presence in Lerner Enterprises’ trophy office building to 154,025 square feet, bringing the 17-story, 476,000-square-foot tower to 100% occupancy roughly three and a half years after it delivered.The coworking space goliath has occupied 92,500 square feet at 1775 Tysons Blvd., on the fourth, fifth and sixth floors, since 2016 — its initial entry into the Fairfax County submarket. The expansion will add 61,525 square feet on the 11th and 12th floors of the building. "The WeWork expansion is the latest example of the many industry-leading companies that have thrived in Tysons II over the years,” Lerner Enterprises' Principal Mark Lerner said in a statement.
Park Hotels & Resorts' (PK) shedding of non-core assets for $166 million comes as part of its capital-recycling efforts, helping substantially lower the company's leverage ahead of its proposed merger.
Tysons-based Park Hotels & Resorts (NYSE: PK) is offloading three hotels for $166 million as it moves toward its acquisition of Chesapeake Lodging Trust. Park deems the three hotels — the 507-room Hilton Atlanta Airport, the 317-room Hilton New Orleans Airport and the 274-room Embassy Suites Parsippany in Parsippany, New Jersey — noncore domestic assets.
Park Hotels & Resorts Inc. (“Park” or “the Company”) (PK) today announced that it closed on the sales of three non-core domestic assets for combined gross proceeds of $166.0 million, or $151,000 per key. When adjusted for Park’s anticipated capital expenditures of $50.5 million, or $46,000 per key, the combined sale price represents a 6.9% capitalization rate on the three hotels’ 2018 net operating income, or 12.6x the hotels’ 2018 EBITDA. Park Hotels & Resorts Inc. (PK) is the second largest publicly traded lodging real estate investment trust with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value.
Park Hotels & Resorts Inc. (“Park”) (PK) announced that the Caribe Hilton (“the Resort”) in San Juan, Puerto Rico reopened today following a $150-million restoration. “We are thrilled to re-introduce the iconic Caribe Hilton to guests and locals alike,” said Thomas J. Baltimore, Jr., Chairman and Chief Executive Officer of Park Hotels & Resorts.
AT&T (NYSE:T) is currently yielding 6.7%. Dividend investors love AT&T stock and its juicy payout despite the fact it's highly likely the telecom/media company will have to cut its dividend in the future to help pay down its massive debt.Source: Shutterstock Debt is a big reason that I'm not a fan of AT&T and probably never will be. Chasing yield is a mug's game. It's the total return that counts, not dividend yield. And while the AT&T stock price is up approximately $2.77 a share, 51 cents of that return is due to its quarterly dividend. InvestorPlace - Stock Market News, Stock Advice & Trading TipsBy the end of the year, the dividend could account for almost 100% of its total return. For my money, I want the dividend to account for no more than 50% of a stock's total return, preferably even lower around 25%. * 6 Trade War Stocks With a Lot of Risk Here are two stocks with a market cap higher than $2 billion trading within $2 of AT&T that will meet my criterion above and outperform AT&T stock on a total return basis over the next 1, 3, and 5-year periods. Both of these stocks should put AT&T on the bench. Permanently. Wolverine World WideMichigan-based Wolverine World Wide (NYSE:WWW) is probably best known for its Hush Puppies and Merrell brands. However, the footwear manufacturer has a total of 12 brands in its portfolio including Keds, Sperry, and Saucony. Wolverine released its first-quarter results May 10 and investors didn't like them sending its stock down by more than 5% on the news. With the losses after its Q1 2019 report, WWW stock is now down about 6.7% year to date. Its downward trend in 2019 ends three years of consecutive annual gains. Like Warren Buffett, I believe that it's good news when a stock is dropping in price because it allows you to buy while it's on sale. Analysts see good things ahead for Wolverine. "Despite back-end weighted guidance, we are confident Wolverine will achieve top- and bottom-line FY19 objectives," wrote Susquehanna Financial Group analysts. "Headwinds faced in the first half should subside in the second half."Yielding 1.4%, capital appreciation is the key to shareholder happiness. Delivering an annualized total return of 13.2% over the past decade, I see WWW outperforming AT&T stock in the long run. Park Hotels & ResortsPark Hotels & Resorts (NYSE:PK) was spun-off from Hilton Hotels (NYSE:HLT) in January 2017. It is a real estate investment trust that owns 52 premium branded hotels and resorts in the U.S. On May 6, in addition to releasing its Q1 2019 results, the company announced that it would buy Chesapeake Lodging Trust (NYSE:CHSP) for $2.7 billion. The strategic investment gives Park Hotels a total of 66 properties in 17 states and Washington D.C. and an enterprise value of $12.0 billion. As a result of the purchase, the company's revenue per available room (RevPAR) increases by 3.4% to $182. It also expands the number of hotel brands in the portfolio beyond Hilton, DoubleTree, and Waldorf Astoria, to include Marriott (NYSE:MAR), Hyatt (NYSE:H), and other third-party operators. Since Park Hotels was spun-off from Hilton, it's delivered a 46% total return to shareholders through the company's merger announcement with Chesapeake. I expect that its latest acquisition will provide significant shareholder returns in the years to come. Currently yielding 6.0%, I believe it's a much better and safer dividend play than AT&T stock. At the time of this writing Will Ashworth did not hold a position in any of the aforementioned securities. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * 10 Retirement Stocks That Won't Wilt in a Bear Market * 5 Consumer Stocks Ready to Push Higher * 3 of the Best ETFs to Buy for a Play on Gold Stocks Compare Brokers The post 2 Dividend Stocks That Are Way More Productive Than AT&T Stock appeared first on InvestorPlace.
Q1 2019 Park Hotels & Resorts Inc Earnings and Strategic Acquisition of Chesapeake Lodging Trust Call