Ryman Hospitality Properties (NYSE:RHP) Reaches New 1-Year High on Analyst Upgrade

Ryman Hospitality Properties, Inc. (NYSE:RHP)’s share price reached a new 52-week high on Wednesday after Truist Financial raised their price target on the stock from $129.00 to $132.00. Truist Financial currently has a buy rating on the stock. Ryman Hospitality Properties traded as high as $114.60 and last traded at $114.41, with a volume of 309545 shares traded. The stock had previously closed at $111.96.

A number of other analysts have also recently weighed in on RHP. Barclays increased their price objective on Ryman Hospitality Properties from $109.00 to $110.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 7th. Wells Fargo & Company increased their price objective on Ryman Hospitality Properties from $105.00 to $114.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 22nd. Evercore reissued an “outperform” rating and set a $115.00 target price on shares of Ryman Hospitality Properties in a research note on Friday, February 6th. Weiss Ratings downgraded Ryman Hospitality Properties from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, May 6th. Finally, Morgan Stanley increased their target price on Ryman Hospitality Properties from $105.00 to $112.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 12th. Nine analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $117.89.

Hedge Funds Weigh In On Ryman Hospitality Properties

A number of large investors have recently modified their holdings of RHP. Royal Bank of Canada raised its stake in shares of Ryman Hospitality Properties by 44.1% during the 1st quarter. Royal Bank of Canada now owns 39,740 shares of the real estate investment trust’s stock worth $3,634,000 after buying an additional 12,169 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Ryman Hospitality Properties by 131.0% during the 1st quarter. AQR Capital Management LLC now owns 13,418 shares of the real estate investment trust’s stock worth $1,227,000 after buying an additional 7,610 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Ryman Hospitality Properties by 8.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 784,970 shares of the real estate investment trust’s stock worth $71,778,000 after buying an additional 63,507 shares in the last quarter. Jane Street Group LLC raised its stake in shares of Ryman Hospitality Properties by 306.5% during the 1st quarter. Jane Street Group LLC now owns 36,162 shares of the real estate investment trust’s stock worth $3,307,000 after buying an additional 27,267 shares in the last quarter. Finally, Geneos Wealth Management Inc. raised its stake in shares of Ryman Hospitality Properties by 240.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 296 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 209 shares in the last quarter. 94.48% of the stock is owned by hedge funds and other institutional investors.

Ryman Hospitality Properties Trading Up 2.2%

The firm has a market capitalization of $7.22 billion, a PE ratio of 30.19, a P/E/G ratio of 2.60 and a beta of 1.22. The business has a 50 day moving average price of $100.92 and a 200-day moving average price of $97.81. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 5.15.

Ryman Hospitality Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be paid a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend is Tuesday, June 30th. Ryman Hospitality Properties’s dividend payout ratio (DPR) is presently 126.65%.

About Ryman Hospitality Properties

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.