Ryman Hospitality Properties (NYSE:RHP) Stock Rating Raised to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Ryman Hospitality Properties (NYSE:RHP) from a hold rating to a strong-buy rating in a report issued on Monday morning,Zacks reports.

A number of other brokerages have also commented on RHP. Jefferies Financial Group reiterated a “buy” rating and set a $145.00 price target on shares of Ryman Hospitality Properties in a report on Wednesday, August 12th. Truist Financial increased their price objective on Ryman Hospitality Properties from $132.00 to $141.00 and gave the company a “buy” rating in a report on Thursday, September 10th. Citigroup increased their price objective on Ryman Hospitality Properties from $125.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, September 9th. Cantor Fitzgerald raised their target price on Ryman Hospitality Properties from $124.00 to $135.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 11th. Finally, Barclays cut their target price on Ryman Hospitality Properties from $147.00 to $143.00 and set an “overweight” rating on the stock in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating and thirteen have issued a Buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $132.42.

Ryman Hospitality Properties Stock Up 1.9%

Shares of NYSE RHP opened at $124.76 on Monday. The company has a 50 day simple moving average of $123.48 and a 200 day simple moving average of $118.04. The firm has a market cap of $7.87 billion, a PE ratio of 30.50, a price-to-earnings-growth ratio of 1.87 and a beta of 1.22. Ryman Hospitality Properties has a 1 year low of $83.82 and a 1 year high of $137.46. The company has a debt-to-equity ratio of 5.02, a current ratio of 1.34 and a quick ratio of 1.34.

Ryman Hospitality Properties (NYSE:RHP) last posted its earnings results on Friday, August 7th. The real estate investment trust reported $1.42 EPS for the quarter, topping the consensus estimate of $1.31 by $0.11. Ryman Hospitality Properties had a net margin of 9.91% and a return on equity of 34.54%. The business had revenue of $748.98 million for the quarter, compared to the consensus estimate of $734.59 million. During the same period last year, the company earned $2.35 EPS. The firm’s revenue was up 13.6% compared to the same quarter last year. On average, research analysts forecast that Ryman Hospitality Properties will post 9.23 EPS for the current year.

Ryman Hospitality Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date is Wednesday, September 30th. Ryman Hospitality Properties’s dividend payout ratio (DPR) is presently 117.36%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in RHP. Empowered Funds LLC bought a new stake in Ryman Hospitality Properties in the second quarter valued at $3,541,000. BlackRock Inc. acquired a new position in shares of Ryman Hospitality Properties during the second quarter valued at about $1,438,737,000. Wellington Management Group LLP acquired a new position in shares of Ryman Hospitality Properties during the second quarter valued at about $24,658,000. Diamond Hill Capital Management LLC Investment Advisor bought a new position in shares of Ryman Hospitality Properties during the 2nd quarter worth about $60,655,000. Finally, Reinhart Partners LLC. boosted its position in shares of Ryman Hospitality Properties by 1.7% during the 2nd quarter. Reinhart Partners LLC. now owns 710,878 shares of the real estate investment trust’s stock worth $91,386,000 after purchasing an additional 11,766 shares in the last quarter. 94.48% of the stock is owned by institutional investors and hedge funds.

About Ryman Hospitality Properties

Ryman Hospitality Properties, Inc (NYSE:RHP) is a real estate investment trust focused on owning and operating high-quality lodging and entertainment assets. The company’s portfolio is centered on large-scale convention center resorts that serve group, business and leisure travelers, with properties designed to combine accommodations, meeting space, dining, retail and entertainment.

Ryman’s flagship hospitality portfolio operates under the Gaylord Hotels brand and includes destination resorts in markets such as Nashville, Tennessee; Orlando, Florida; the Dallas-Fort Worth area; the Washington, DC, area; and the Denver area.