Ryman Hospitality Properties (NYSE:RHP) Sets New 52-Week High – What’s Next?

Ryman Hospitality Properties, Inc. (NYSE:RHP) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $124.70 and last traded at $123.4230, with a volume of 498318 shares changing hands. The stock had previously closed at $122.47.

Analyst Upgrades and Downgrades

RHP has been the topic of several recent research reports. Cantor Fitzgerald raised their target price on shares of Ryman Hospitality Properties from $115.00 to $124.00 and gave the stock an “overweight” rating in a report on Wednesday, May 13th. BMO Capital Markets reissued an “outperform” rating and set a $137.00 price target on shares of Ryman Hospitality Properties in a research report on Friday. Truist Financial lifted their price objective on Ryman Hospitality Properties from $129.00 to $132.00 and gave the company a “buy” rating in a report on Tuesday, May 26th. Raymond James Financial reiterated an “outperform” rating and set a $125.00 target price on shares of Ryman Hospitality Properties in a research report on Monday, June 8th. Finally, JPMorgan Chase & Co. increased their target price on Ryman Hospitality Properties from $111.00 to $113.00 and gave the stock an “overweight” rating in a report on Tuesday, May 5th. Eleven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $122.27.

Ryman Hospitality Properties Price Performance

The company’s 50-day moving average is $108.88 and its 200-day moving average is $100.43. The firm has a market cap of $7.79 billion, a price-to-earnings ratio of 32.57, a price-to-earnings-growth ratio of 2.49 and a beta of 1.22. 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 Announces Dividend

The firm 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 dividend yield of 3.9%. The ex-dividend date of this dividend is Tuesday, June 30th. Ryman Hospitality Properties’s dividend payout ratio (DPR) is currently 126.65%.

Hedge Funds Weigh In On Ryman Hospitality Properties

A number of institutional investors have recently modified their holdings of the business. Hamlin Capital Management LLC lifted its holdings in shares of Ryman Hospitality Properties by 10.5% in the third quarter. Hamlin Capital Management LLC now owns 987,976 shares of the real estate investment trust’s stock worth $88,513,000 after acquiring an additional 93,490 shares during the last quarter. Centersquare Investment Management LLC grew its holdings in shares of Ryman Hospitality Properties by 37.3% during the 3rd quarter. Centersquare Investment Management LLC now owns 52,590 shares of the real estate investment trust’s stock valued at $4,712,000 after purchasing an additional 14,296 shares during the last quarter. Jain Global LLC increased its position in Ryman Hospitality Properties by 143.9% during the 3rd quarter. Jain Global LLC now owns 169,432 shares of the real estate investment trust’s stock worth $15,179,000 after purchasing an additional 99,967 shares in the last quarter. Hodges Capital Management Inc. increased its position in Ryman Hospitality Properties by 206.5% during the 3rd quarter. Hodges Capital Management Inc. now owns 39,141 shares of the real estate investment trust’s stock worth $3,507,000 after purchasing an additional 26,370 shares in the last quarter. Finally, Boothbay Fund Management LLC lifted its stake in Ryman Hospitality Properties by 44.3% in the 3rd quarter. Boothbay Fund Management LLC now owns 93,479 shares of the real estate investment trust’s stock valued at $8,375,000 after purchasing an additional 28,695 shares during the last quarter. 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.