Wells Fargo & Company Upgrades Ryman Hospitality Properties (NYSE:RHP) to “Strong-Buy”

Ryman Hospitality Properties (NYSE:RHP) was upgraded by equities research analysts at Wells Fargo & Company to a “strong-buy” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

RHP has been the subject of several other research reports. Truist Financial increased their price target on shares of Ryman Hospitality Properties from $129.00 to $132.00 and gave the stock a “buy” rating in a research report on Tuesday, May 26th. Barclays upped their price objective on Ryman Hospitality Properties from $120.00 to $130.00 and gave the company an “overweight” rating in a research note on Tuesday. Weiss Ratings cut Ryman Hospitality Properties from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, May 6th. Morgan Stanley raised their target price on Ryman Hospitality Properties from $105.00 to $112.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 12th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $137.00 price target on shares of Ryman Hospitality Properties in a research note on Friday, June 12th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $127.10.

Ryman Hospitality Properties Trading Up 3.2%

Shares of RHP stock opened at $132.99 on Thursday. The firm has a fifty day moving average of $122.35 and a 200-day moving average of $106.56. The stock has a market cap of $8.39 billion, a price-to-earnings ratio of 35.09, a P/E/G ratio of 2.32 and a beta of 1.20. Ryman Hospitality Properties has a 52-week low of $83.82 and a 52-week high of $133.75. The company has a debt-to-equity ratio of 5.15, a quick ratio of 1.35 and a current ratio of 1.35.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Harrell Investment Partners LLC grew its holdings in Ryman Hospitality Properties by 7.6% during the 2nd quarter. Harrell Investment Partners LLC now owns 5,414 shares of the real estate investment trust’s stock worth $696,000 after acquiring an additional 381 shares during the last quarter. Legacy Wealth Asset Management LLC bought a new position in shares of Ryman Hospitality Properties in the second quarter worth about $203,000. Reinhart Partners LLC. raised its stake in shares of Ryman Hospitality Properties by 1.7% in the second quarter. Reinhart Partners LLC. now owns 710,878 shares of the real estate investment trust’s stock worth $91,386,000 after acquiring an additional 11,766 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Ryman Hospitality Properties by 22.9% during the second quarter. GAMMA Investing LLC now owns 2,478 shares of the real estate investment trust’s stock worth $319,000 after purchasing an additional 462 shares in the last quarter. Finally, Western Wealth Management LLC acquired a new position in shares of Ryman Hospitality Properties during the first quarter worth approximately $185,000. Institutional investors and hedge funds own 94.48% of the company’s stock.

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.