Professional
Added to YB: 2024-07-24
Pitch date: 2024-07-11
PK [bullish]
Park Hotels & Resorts Inc.
-5.3%
current return
Author Info
No bio for this author
Company Info
Park Hotels & Resorts inc. is one of the largest publicly traded lodging real estate investment trusts.
Market Cap
N/A
Pitch Price
$12.10
Price Target
25.00 (+118%)
Dividend
N/A
EV/EBITDA
N/A
P/E
-10.09
EV/Sales
2.38
Sector
Hotel and Resort REITs
Category
value
Park Hotels & Resorts Inc.: Most REITs in the US Are Trading at Significant Discounts to Fair Value
PK: Upper-upscale hotel REIT, 2nd largest in US. RevPAR & margins improving post-pandemic. FVE $25 (7.5% cap rate, 11x FFO). 5.5% avg NOI growth over 10yrs. Risks: Hilton concentration, travel industry sensitivity, Airbnb competition. Exemplary capital allocation. Strong mgmt team led by Thomas Baltimore. 6.3x net debt/EBITDA. $1 dividend (4% yield) expected 2024.
Read full article (11 min)