Ryman Hospitality Properties (NYSE:RHP) Reaches New 52-Week High Following Analyst Upgrade

Ryman Hospitality Properties, Inc. (NYSE:RHP)’s stock price hit a new 52-week high during trading on Tuesday after Cantor Fitzgerald raised their price target on the stock from $135.00 to $152.00. Cantor Fitzgerald currently has an overweight rating on the stock. Ryman Hospitality Properties traded as high as $137.71 and last traded at $137.3480, with a volume of 141,128 shares. The stock had previously closed at $135.42.

Several other equities analysts have also recently weighed in on the company. JPMorgan Chase & Co. lifted their price objective on Ryman Hospitality Properties from $129.00 to $138.00 and gave the company an “overweight” rating in a report on Wednesday, October 21st. Evercore cut Ryman Hospitality Properties from an “outperform” rating to an “in-line” rating and set a $140.00 target price for the company. in a research note on Monday, October 26th. Raymond James Financial raised their target price on shares of Ryman Hospitality Properties from $125.00 to $130.00 and gave the stock an “outperform” rating in a report on Monday, September 28th. Truist Financial lifted their price target on shares of Ryman Hospitality Properties from $132.00 to $141.00 and gave the company a “buy” rating in a research note on Thursday, September 10th. Finally, Barclays reduced their price target on shares of Ryman Hospitality Properties from $147.00 to $143.00 and set an “overweight” rating for the company in a report on Tuesday, October 13th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Ryman Hospitality Properties has an average rating of “Buy” and an average price target of $136.67.

Institutional Trading of Ryman Hospitality Properties

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RHP. Empowered Funds LLC purchased a new position in shares of Ryman Hospitality Properties in the second quarter worth about $3,541,000. Wellington Management Group LLP bought a new position in Ryman Hospitality Properties in the second quarter worth about $24,658,000. BlackRock Inc. purchased a new position in Ryman Hospitality Properties during the 2nd quarter valued at about $1,438,737,000. Diamond Hill Capital Management LLC Investment Advisor purchased a new position in shares of Ryman Hospitality Properties in the 2nd quarter worth about $60,655,000. Finally, Reinhart Partners LLC. lifted its position in Ryman Hospitality Properties by 1.7% during the second quarter. Reinhart Partners LLC. now owns 710,878 shares of the real estate investment trust’s stock valued at $91,386,000 after purchasing an additional 11,766 shares during the period. 94.48% of the stock is owned by institutional investors.

Ryman Hospitality Properties Stock Up 1.7%

The company has a market capitalization of $9.50 billion, a PE ratio of 33.20, a P/E/G ratio of 2.02 and a beta of 1.23. The company has a 50-day moving average of $125.36 and a two-hundred day moving average of $114.67. The company has a debt-to-equity ratio of 3.29, a current ratio of 1.15 and a quick ratio of 1.34.

Ryman Hospitality Properties (NYSE:RHP) last announced its earnings results on Monday, November 2nd. The real estate investment trust reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $1.62 by ($1.04). Ryman Hospitality Properties had a return on equity of 29.45% and a net margin of 9.88%. The company had revenue of $655.80 million during the quarter, compared to analysts’ expectations of $646.13 million. During the same quarter last year, the firm posted $1.63 EPS. Ryman Hospitality Properties’s revenue for the quarter was up 10.7% compared to the same quarter last year. Sell-side analysts anticipate that Ryman Hospitality Properties, Inc. will post 9.31 earnings per share for the current fiscal year.

Ryman Hospitality Properties Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were paid a $1.20 dividend. The ex-dividend date was Wednesday, September 30th. This represents a $4.80 dividend on an annualized basis and a yield of 3.5%. Ryman Hospitality Properties’s dividend payout ratio (DPR) is 115.94%.

Ryman Hospitality Properties Company Profile

Ryman Hospitality Properties, Inc is a real estate investment trust focused on upscale hotels and resorts designed for conventions and large group events. Its portfolio includes the Gaylord Hotels properties in Nashville, Tennessee; Orlando, Florida; Grapevine, Texas; National Harbor, Maryland; and Aurora, Colorado. These destination resorts combine lodging with extensive meeting and convention facilities, dining, and entertainment.

The company also owns and operates entertainment venues and related businesses through Opry Entertainment Group.