29.27 -0.05 (-0.18%)
After hours: 4:28PM EDT
|Bid||27.50 x 800|
|Ask||29.26 x 1400|
|Day's Range||29.02 - 29.50|
|52 Week Range||25.30 - 34.27|
|Beta (3Y Monthly)||1.37|
|PE Ratio (TTM)||14.14|
|Earnings Date||Jul 30, 2019 - Aug 5, 2019|
|Forward Dividend & Yield||1.80 (5.79%)|
|1y Target Est||32.82|
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
Park Hotels (PK) is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season.
Under the terms of the deal, Park Hotels will acquire all outstanding Chesapeake shares, creating a combined company with an estimated enterprise value of $12 billion. Chesapeake shareholders will receive $11 in cash and 0.628 of a share of Park common stock for each Chesapeake share they hold, according to Monday's press release.
NEW YORK , May 6, 2019 /PRNewswire/ -- Rowley Law PLLC is investigating potential claims against Chesapeake Lodging Trust (NYSE: CHSP) and its board of directors for breach of fiduciary duty concerning ...
White House economic adviser Larry Kudlow, in a tweet that put an awkward exclamation point on Friday’s stock-market rally, cheered “we’re killing it on the economy” and it’s “totally awesome.” In the first trading session since that tweet went viral, it certainly doesn’t feel totally awesome for traders who were anticipating good news on the trade front.
WILMINGTON, Del., May 06, 2019 -- Rigrodsky & Long, P.A.: Do you own shares of Chesapeake Lodging Trust (NYSE: CHSP)?Did you purchase any of your shares prior to May 6,.
NEW YORK, May 06, 2019 -- NEW YORK, May 6, 2019 - The following statement is being issued by Levi & Korsinsky, LLP: To: All Persons or Entities who purchased Chesapeake.
Unfavorable spread differential will likely escalate Two Harbors Investment's (TWO) cost of funds. Further, dismal U.S. housing activity might result in muted growth in its RMBS portfolio
Uncertain revenues from the master lease agreement with Windstream and large scale dispositions to impact Uniti Group's (UNIT) results in Q1.
Chesapeake shareholders will get $11 in cash and 0.628 of a share of a Park common stock for each of their shares, for an aggregate value of $31.71 a share, the companies said in a statement Monday. “Chesapeake’s high-quality portfolio of hotels will accelerate our strategic goals of upgrading the quality of our portfolio and achieving brand, operator and geographic diversity,” Park Hotels Chief Executive Officer Thomas Baltimore said in the statement. Park Hotels was spun out of Hilton Worldwide Holdings Inc. in 2017 and has been seeking to diversify its portfolio, which consists of 51 properties, all Hilton brands.
SAN DIEGO , May 6, 2019 /PRNewswire/ -- Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of Chesapeake Lodging Trust (NYSE: CHSP) ("Chesapeake") ...
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Park owns hotels from Waikiki to San Francisco to Midtown Manhattan to Boston to Orlando, and numerous major markets in between, including the District.
Park Hotels & Resorts Inc. (PK) delivered FFO and revenue surprises of -2.90% and -0.30%, respectively, for the quarter ended March 2019. Do the numbers hold clues to what lies ahead for the stock?
Park Hotels & Resorts Inc. said Monday it has entered an agreement to acquire Chesapeake Lodging Trust in a cash-and-stock deal valued at about $2.7 billion. The combined company will have an estimated enterprise value of $12 billion and be second biggest lodging REIT, the company said in a statement. Under the terms of the deal, Chesapeake shareholders will receive $11 in cash and 0.628 of Park share for each Chesapeake share owned. The exchange ratio is equal to $31 per Chesapeake share, and offers an 11% premium over the stock's trailing 10-day volume weighted average price and 8% over its closing stock price May 3. The deal is expected to close in late third quarter or early fourth quarter. Park is planning to sell five non-core hotels before closing. Neither stock was active premarket. Park has gained 12.5% in the last 12 months, while the S&P 500 has gained 10.6%.
Park's offer of $31.71 per share represents a premium of about 8 percent to Chesapeake Lodging's closing price on Friday. The merged entity will have an enterprise value of about $12 billion, following the close of the deal by fourth quarter of 2019, and is closely behind No.1 Host Hotels & Resorts Inc's enterprise value of about $17.7 billion, Park Hotels said. Park's portfolio of properties consists of 51 premium-branded hotels and resorts, which have more than 30,000 rooms located in prime U.S. markets.
Hotel owner Park Hotels & Resorts Inc on Monday agreed to buy smaller rival Chesapeake Lodging Trust in a cash and stock deal valued at $2.7 billion that would create the second biggest lodging real estate investment trust in the United States. Park's offer of $31.71 per share represents a premium of about 8 percent to Chesapeake Lodging's closing price on Friday. The merged entity will have an enterprise value of about $12 billion, following the close of the deal by fourth quarter of 2019, and is closely behind No.1 Host Hotels & Resorts Inc's enterprise value of about $17.7 billion, Park Hotels said.
Park Hotels & Resorts Inc. today announced results for the first quarter ended March 31, 2019. Highlights include:
Park Hotels & Resorts Inc. (“Park”, the “Company”) (PK) and Chesapeake Lodging Trust (“Chesapeake”) (CHSP) today announced that they have entered into a definitive merger agreement under which Park will acquire all the outstanding shares of Chesapeake in a cash and stock transaction valued at approximately $2.7 billion (inclusive of transaction costs). Upon completion of the merger, the combined company will have an estimated enterprise value of $12 billion, firmly solidifying Park’s position as the second largest lodging REIT while also advancing the Company’s strategic goals of portfolio enhancement and diversification. The transaction has been approved by the board of directors and board of trustees of Park and Chesapeake, respectively.
Though American Tower's (AMT) revenues are expected to witness growth on the back of strong spending from wireless carriers, the Indian carrier consolidation-driven churn might affect Q1 results.