JPMorgan Chase & Co. Downgrades Ryman Hospitality Properties (NYSE:RHP) to Underweight

Ryman Hospitality Properties (NYSE:RHP) was downgraded by equities researchers at JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating in a research note issued on Tuesday, MarketBeat Ratings reports. They presently have a $77.00 price objective on the real estate investment trust’s stock, down from their previous price objective of $80.00. JPMorgan Chase & Co.‘s price target suggests a potential upside of 0.47% from the company’s current price.

NYSE RHP traded down $1.11 during mid-day trading on Tuesday, hitting $76.64. The company’s stock had a trading volume of 248,439 shares, compared to its average volume of 273,217. The firm’s 50 day moving average price is $80.53. Ryman Hospitality Properties has a twelve month low of $64.36 and a twelve month high of $90.02. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 5.88. The stock has a market capitalization of $4.18 billion, a price-to-earnings ratio of 13.08, a price-to-earnings-growth ratio of 1.58 and a beta of 1.17.

Ryman Hospitality Properties (NYSE:RHP) last posted its quarterly earnings results on Tuesday, May 7th. The real estate investment trust reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.42 by ($0.85). The business had revenue of $370.80 million during the quarter, compared to analyst estimates of $363.63 million. Ryman Hospitality Properties had a net margin of 19.65% and a return on equity of 67.41%. The business’s revenue for the quarter was up 28.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.18 EPS. On average, analysts predict that Ryman Hospitality Properties will post 6.7 earnings per share for the current fiscal year.

In other Ryman Hospitality Properties news, EVP Scott J. Lynn sold 3,250 shares of Ryman Hospitality Properties stock in a transaction on Friday, May 10th. The shares were sold at an average price of $83.05, for a total transaction of $269,912.50. The transaction was disclosed in a filing with the SEC, which is available through this link. 3.30% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RHP. Norges Bank bought a new stake in shares of Ryman Hospitality Properties during the 4th quarter worth $34,191,000. Zimmer Partners LP bought a new stake in shares of Ryman Hospitality Properties during the 4th quarter worth $14,733,000. BlackRock Inc. raised its stake in shares of Ryman Hospitality Properties by 3.9% during the 4th quarter. BlackRock Inc. now owns 4,964,938 shares of the real estate investment trust’s stock worth $331,113,000 after purchasing an additional 188,483 shares during the period. Duff & Phelps Investment Management Co. raised its stake in shares of Ryman Hospitality Properties by 52.6% during the 1st quarter. Duff & Phelps Investment Management Co. now owns 386,551 shares of the real estate investment trust’s stock worth $31,790,000 after purchasing an additional 133,251 shares during the period. Finally, Pennsylvania Trust Co bought a new stake in Ryman Hospitality Properties in the 1st quarter valued at about $15,401,000. Institutional investors own 87.63% of the company’s stock.

About Ryman Hospitality Properties

Ryman Hospitality Properties, Inc (NYSE:RHP) is a REIT for federal income tax purposes, specializing in group-oriented, destination hotel assets in urban and resort markets. The Company's owned assets include a network of four upscale, meetings-focused resorts totaling 8,114 rooms that are managed by lodging operator Marriott International, Inc under the Gaylord Hotels brand.

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Analyst Recommendations for Ryman Hospitality Properties (NYSE:RHP)

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