Ryman Hospitality Properties (NYSE:RHP) Price Target Raised to $136.00

Ryman Hospitality Properties (NYSE:RHP) had its target price increased by Truist Financial from $130.00 to $136.00 in a report issued on Monday,Benzinga reports. Truist Financial currently has a buy rating on the real estate investment trust’s stock.

A number of other brokerages have also issued reports on RHP. Jefferies Financial Group initiated coverage on Ryman Hospitality Properties in a research note on Wednesday, November 6th. They set a “buy” rating and a $130.00 price target for the company. StockNews.com raised Ryman Hospitality Properties from a “sell” rating to a “hold” rating in a research note on Friday, August 9th. Wells Fargo & Company reduced their price objective on Ryman Hospitality Properties from $127.00 to $115.00 and set an “overweight” rating for the company in a research note on Friday, September 13th. Finally, JPMorgan Chase & Co. raised their price objective on Ryman Hospitality Properties from $104.00 to $105.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $126.17.

Ryman Hospitality Properties Stock Performance

Shares of NYSE RHP opened at $112.11 on Monday. The stock has a fifty day moving average price of $109.12 and a two-hundred day moving average price of $104.24. The company has a debt-to-equity ratio of 6.07, a quick ratio of 1.73 and a current ratio of 1.73. The firm has a market cap of $6.72 billion, a P/E ratio of 19.91, a PEG ratio of 1.96 and a beta of 1.65. Ryman Hospitality Properties has a 1 year low of $93.76 and a 1 year high of $122.91.

Ryman Hospitality Properties (NYSE:RHP) last issued its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $0.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.83 by ($0.89). The firm had revenue of $549.90 million for the quarter, compared to the consensus estimate of $545.93 million. Ryman Hospitality Properties had a net margin of 14.84% and a return on equity of 61.94%. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.73 earnings per share. Research analysts forecast that Ryman Hospitality Properties will post 8.44 EPS for the current fiscal year.

Ryman Hospitality Properties Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a $1.15 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $4.60 dividend on an annualized basis and a dividend yield of 4.10%. This is a positive change from Ryman Hospitality Properties’s previous quarterly dividend of $1.10. Ryman Hospitality Properties’s dividend payout ratio is presently 81.71%.

Insider Activity

In other news, Director Fazal F. Merchant sold 1,269 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $113.98, for a total value of $144,640.62. Following the completion of the sale, the director now owns 4,825 shares in the company, valued at $549,953.50. This represents a 20.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Alvin L. Bowles, Jr. sold 900 shares of Ryman Hospitality Properties stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $107.32, for a total value of $96,588.00. Following the sale, the director now directly owns 3,148 shares of the company’s stock, valued at approximately $337,843.36. The trade was a 22.23 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.00% of the company’s stock.

Institutional Trading of Ryman Hospitality Properties

A number of institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC boosted its position in Ryman Hospitality Properties by 34.6% during the third quarter. GAMMA Investing LLC now owns 401 shares of the real estate investment trust’s stock valued at $43,000 after purchasing an additional 103 shares during the last quarter. Avior Wealth Management LLC boosted its position in Ryman Hospitality Properties by 44.9% during the third quarter. Avior Wealth Management LLC now owns 442 shares of the real estate investment trust’s stock valued at $47,000 after purchasing an additional 137 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its position in Ryman Hospitality Properties by 0.4% during the second quarter. DekaBank Deutsche Girozentrale now owns 39,256 shares of the real estate investment trust’s stock valued at $3,829,000 after purchasing an additional 138 shares during the last quarter. Xponance Inc. boosted its position in Ryman Hospitality Properties by 4.6% during the second quarter. Xponance Inc. now owns 3,714 shares of the real estate investment trust’s stock valued at $371,000 after purchasing an additional 162 shares during the last quarter. Finally, Captrust Financial Advisors boosted its position in Ryman Hospitality Properties by 4.2% during the third quarter. Captrust Financial Advisors now owns 5,283 shares of the real estate investment trust’s stock valued at $567,000 after purchasing an additional 213 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 (NYSE: RHP) is a leading lodging and hospitality real estate investment trust that specializes in upscale convention center resorts and entertainment experiences. The Company's holdings include Gaylord Opryland Resort & Convention Center; Gaylord Palms Resort & Convention Center; Gaylord Texan Resort & Convention Center; Gaylord National Resort & Convention Center; and Gaylord Rockies Resort & Convention Center, five of the top seven largest non-gaming convention center hotels in the United States based on total indoor meeting space.