Ryman Hospitality Properties (NYSE:RHP) Hits New 1-Year High – Time to Buy?

Shares of Ryman Hospitality Properties, Inc. (NYSE:RHP) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $133.44 and last traded at $131.5060, with a volume of 244 shares changing hands. The stock had previously closed at $132.13.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on RHP. Weiss Ratings cut Ryman Hospitality Properties from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, May 6th. BMO Capital Markets reiterated an “outperform” rating and set a $137.00 target price on shares of Ryman Hospitality Properties in a research report on Friday, June 12th. Morgan Stanley upped their target price on Ryman Hospitality Properties from $105.00 to $112.00 and gave the company an “overweight” rating in a report on Tuesday, May 12th. JPMorgan Chase & Co. lifted their price target on Ryman Hospitality Properties from $111.00 to $113.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 5th. Finally, Cantor Fitzgerald boosted their price objective on shares of Ryman Hospitality Properties from $115.00 to $124.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 13th. Eleven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $122.27.

Ryman Hospitality Properties Stock Performance

The company has a market capitalization of $8.12 billion, a price-to-earnings ratio of 33.96, a PEG ratio of 2.68 and a beta of 1.22. The stock has a fifty day moving average price of $114.53 and a two-hundred day moving average price of $102.82. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 5.15.

Ryman Hospitality Properties Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be issued a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is Tuesday, June 30th. Ryman Hospitality Properties’s dividend payout ratio is 126.65%.

Hedge Funds Weigh In On Ryman Hospitality Properties

A number of institutional investors have recently modified their holdings of the company. Norges Bank acquired a new stake in Ryman Hospitality Properties during the fourth quarter worth approximately $48,036,000. Invesco Ltd. raised its holdings in Ryman Hospitality Properties by 184.9% in the 3rd quarter. Invesco Ltd. now owns 739,608 shares of the real estate investment trust’s stock valued at $66,261,000 after acquiring an additional 479,990 shares during the last quarter. Balyasny Asset Management L.P. purchased a new position in shares of Ryman Hospitality Properties during the 3rd quarter worth $30,975,000. Qube Research & Technologies Ltd acquired a new stake in shares of Ryman Hospitality Properties during the third quarter worth $18,161,000. Finally, UBS Group AG grew its position in shares of Ryman Hospitality Properties by 116.3% in the third quarter. UBS Group AG now owns 371,163 shares of the real estate investment trust’s stock valued at $33,252,000 after purchasing an additional 199,556 shares during the period. Institutional investors and hedge funds own 94.48% of the company’s stock.

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.