Ryman Hospitality Properties (NYSE:RHP) Hits New 52-Week High After Analyst Upgrade

Ryman Hospitality Properties, Inc. (NYSE:RHP)’s stock price reached a new 52-week high on Friday after Wells Fargo & Company upgraded the stock to a strong-buy rating. The company traded as high as $133.00 and last traded at $132.3440, with a volume of 119306 shares trading hands. The stock had previously closed at $128.89.

A number of other research firms also recently weighed in on RHP. Weiss Ratings downgraded shares of Ryman Hospitality Properties from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, May 6th. Barclays lifted their price objective on Ryman Hospitality Properties from $120.00 to $130.00 and gave the company an “overweight” rating in a report on Tuesday. Cantor Fitzgerald lifted their target price on Ryman Hospitality Properties from $115.00 to $124.00 and gave the company an “overweight” rating in a research note on Wednesday, May 13th. Raymond James Financial restated an “outperform” rating and set a $125.00 price target on shares of Ryman Hospitality Properties in a research note on Monday, June 8th. Finally, Truist Financial boosted their price target on Ryman Hospitality Properties from $129.00 to $132.00 and gave the company a “buy” rating in a research note on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $127.10.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. International Assets Investment Management LLC raised its holdings in Ryman Hospitality Properties by 437.0% in the 1st quarter. International Assets Investment Management LLC now owns 290 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 236 shares during the period. Caitong International Asset Management Co. Ltd grew its holdings in Ryman Hospitality Properties by 61.7% in 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 purchasing an additional 113 shares during the period. Global Retirement Partners LLC grew its holdings in Ryman Hospitality Properties by 155.0% in the fourth quarter. Global Retirement Partners LLC now owns 283 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 172 shares during the period. Geneos Wealth Management Inc. increased its position in shares of Ryman Hospitality Properties by 240.2% in the first quarter. Geneos Wealth Management Inc. now owns 296 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 209 shares in the last quarter. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of Ryman Hospitality Properties in the fourth quarter valued at approximately $28,000. Institutional investors and hedge funds own 94.48% of the company’s stock.

Ryman Hospitality Properties Trading Up 3.2%

The firm has a market capitalization of $8.39 billion, a price-to-earnings ratio of 35.09, a P/E/G ratio of 2.39 and a beta of 1.20. The company has a debt-to-equity ratio of 5.15, a quick ratio of 1.35 and a current ratio of 1.35. The company has a 50 day moving average price of $122.35 and a two-hundred day moving average price of $106.56.

Ryman Hospitality Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were paid a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 3.6%. The ex-dividend date was Tuesday, June 30th. Ryman Hospitality Properties’s payout ratio is 126.65%.

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.