Wells Fargo & Company Cuts Ryman Hospitality Properties (NYSE:RHP) Price Target to $105.00

Ryman Hospitality Properties (NYSE:RHP) had its price objective trimmed by Wells Fargo & Company from $109.00 to $105.00 in a research note released on Tuesday morning,Benzinga reports. The brokerage currently has an overweight rating on the real estate investment trust’s stock.

Several other brokerages have also recently weighed in on RHP. Truist Financial raised their price target on shares of Ryman Hospitality Properties from $120.00 to $121.00 and gave the company a “buy” rating in a research report on Thursday, December 4th. JPMorgan Chase & Co. decreased their price objective on Ryman Hospitality Properties from $113.00 to $111.00 and set an “overweight” rating for the company in a report on Tuesday, February 3rd. Cantor Fitzgerald increased their price objective on Ryman Hospitality Properties from $108.00 to $115.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 3rd. Evercore reaffirmed an “outperform” rating and set a $115.00 target price on shares of Ryman Hospitality Properties in a research report on Friday, February 6th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $131.00 price target on shares of Ryman Hospitality Properties in a report on Tuesday, January 13th. Ten research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, Ryman Hospitality Properties currently has an average rating of “Moderate Buy” and a consensus target price of $111.18.

Ryman Hospitality Properties Trading Up 1.2%

Shares of RHP stock opened at $92.97 on Tuesday. Ryman Hospitality Properties has a fifty-two week low of $76.27 and a fifty-two week high of $105.75. The company has a debt-to-equity ratio of 5.04, a quick ratio of 1.46 and a current ratio of 1.46. The stock has a 50 day simple moving average of $96.63 and a two-hundred day simple moving average of $94.53. The company has a market cap of $5.86 billion, a P/E ratio of 24.73, a PEG ratio of 1.77 and a beta of 1.18.

Ryman Hospitality Properties Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 5.2%. The ex-dividend date is Tuesday, March 31st. Ryman Hospitality Properties’s dividend payout ratio (DPR) is 127.66%.

Hedge Funds Weigh In On Ryman Hospitality Properties

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Cornerstone Planning Group LLC increased its stake in shares of Ryman Hospitality Properties by 2,241.7% in the third quarter. Cornerstone Planning Group LLC now owns 281 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 269 shares in the last quarter. Global Retirement Partners LLC lifted its stake in shares of Ryman Hospitality Properties by 155.0% during the 4th quarter. Global Retirement Partners LLC now owns 283 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 172 shares in the last quarter. Los Angeles Capital Management LLC bought a new position in Ryman Hospitality Properties in the 4th quarter worth approximately $28,000. Hantz Financial Services Inc. boosted its holdings in Ryman Hospitality Properties by 283.1% in the 3rd quarter. Hantz Financial Services Inc. now owns 295 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 218 shares during the period. Finally, Caitong International Asset Management Co. Ltd grew its stake in Ryman Hospitality Properties by 61.7% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 296 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 113 shares in the last quarter. 94.48% of the stock is owned by hedge funds and other institutional investors.

Ryman Hospitality Properties Company Profile

Ryman Hospitality Properties, Inc is a publicly traded real estate investment trust (REIT) specializing in the ownership and operation of group‐oriented, large convention center hotel resorts. The company’s portfolio is anchored by its Gaylord Hotels brand, offering integrated resort, convention, entertainment and dining experiences under long‐term management agreements with Marriott International.

Ryman’s flagship properties include Gaylord Opryland Resort & Convention Center in Nashville, Gaylord Texan Resort & Convention Center near Dallas/Fort Worth and Gaylord Palms Resort & Convention Center in Orlando, Florida.