Ryman Hospitality Properties (NYSE:RHP) Given New $109.00 Price Target at Wells Fargo & Company

Ryman Hospitality Properties (NYSE:RHP) had its target price dropped by research analysts at Wells Fargo & Company from $114.00 to $109.00 in a report issued on Monday,Benzinga reports. The firm currently has an “overweight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s price target indicates a potential upside of 15.26% from the company’s current price.

Several other analysts also recently weighed in on RHP. Evercore ISI cut their target price on Ryman Hospitality Properties from $120.00 to $110.00 and set an “outperform” rating on the stock in a research note on Thursday, October 30th. Wall Street Zen raised shares of Ryman Hospitality Properties from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Morgan Stanley assumed coverage on Ryman Hospitality Properties in a report on Wednesday, October 22nd. They set an “equal weight” rating and a $92.00 target price on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Ryman Hospitality Properties in a research report on Friday, October 31st. Finally, Cantor Fitzgerald started coverage on shares of Ryman Hospitality Properties in a report on Wednesday, October 1st. They issued an “overweight” rating and a $108.00 target price on the stock. Nine investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Ryman Hospitality Properties currently has an average rating of “Moderate Buy” and an average target price of $110.90.

Ryman Hospitality Properties Stock Performance

Shares of Ryman Hospitality Properties stock traded down $0.86 during trading on Monday, hitting $94.57. 23,076 shares of the stock were exchanged, compared to its average volume of 739,710. The company has a debt-to-equity ratio of 4.72, a quick ratio of 1.63 and a current ratio of 1.63. Ryman Hospitality Properties has a 12 month low of $76.27 and a 12 month high of $121.77. The stock’s fifty day moving average is $91.00 and its 200 day moving average is $95.68. The stock has a market cap of $5.96 billion, a PE ratio of 22.52, a P/E/G ratio of 1.60 and a beta of 1.60.

Ryman Hospitality Properties (NYSE:RHP) last posted its earnings results on Tuesday, November 4th. The real estate investment trust reported $1.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.59 by $0.04. The firm had revenue of $592.46 million during the quarter, compared to analyst estimates of $573.40 million. Ryman Hospitality Properties had a net margin of 10.74% and a return on equity of 41.65%. Ryman Hospitality Properties’s revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.93 EPS. As a group, sell-side analysts anticipate that Ryman Hospitality Properties will post 8.81 EPS for the current year.

Insider Buying and Selling at Ryman Hospitality Properties

In other Ryman Hospitality Properties news, Chairman Colin V. Reed purchased 8,993 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The shares were purchased at an average cost of $92.16 per share, with a total value of $828,794.88. Following the completion of the transaction, the chairman owned 888,010 shares of the company’s stock, valued at approximately $81,839,001.60. This represents a 1.02% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 5.00% of the company’s stock.

Hedge Funds Weigh In On Ryman Hospitality Properties

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. CIBC Private Wealth Group LLC boosted its holdings in shares of Ryman Hospitality Properties by 15.5% in the third quarter. CIBC Private Wealth Group LLC now owns 16,055 shares of the real estate investment trust’s stock valued at $1,438,000 after purchasing an additional 2,152 shares during the period. CIBC Bancorp USA Inc. purchased a new stake in shares of Ryman Hospitality Properties in the 3rd quarter worth $590,000. Danske Bank A S bought a new position in shares of Ryman Hospitality Properties during the 3rd quarter worth $659,000. Caitong International Asset Management Co. Ltd increased its stake in shares of Ryman Hospitality Properties by 61.7% during the third quarter. Caitong International Asset Management Co. Ltd now owns 296 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 113 shares during the period. Finally, Advisory Services Network LLC bought a new stake in shares of Ryman Hospitality Properties in the third quarter valued at about $197,000. Institutional investors own 94.48% of the company’s stock.

Ryman Hospitality Properties Company Profile

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.