Ryman Hospitality Properties (NYSE:RHP) Price Target Lowered to $111.00 at JPMorgan Chase & Co.

Ryman Hospitality Properties (NYSE:RHP) had its price target dropped by analysts at JPMorgan Chase & Co. from $113.00 to $111.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 17.63% from the stock’s current price.

A number of other research firms have also issued reports on RHP. Morgan Stanley set a $88.00 target price on Ryman Hospitality Properties in a report on Friday, January 16th. Truist Financial raised their price target on shares of Ryman Hospitality Properties from $120.00 to $121.00 and gave the stock a “buy” rating in a report on Thursday, December 4th. Wells Fargo & Company dropped their target price on Ryman Hospitality Properties from $114.00 to $109.00 and set an “overweight” rating on the stock in a research report on Monday, December 1st. Weiss Ratings restated a “hold (c)” rating on shares of Ryman Hospitality Properties in a report on Wednesday, January 28th. Finally, Wall Street Zen raised Ryman Hospitality Properties from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Ten analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $109.73.

Ryman Hospitality Properties Stock Down 0.3%

Ryman Hospitality Properties stock traded down $0.27 during trading on Tuesday, reaching $94.37. 150,685 shares of the company’s stock were exchanged, compared to its average volume of 461,658. Ryman Hospitality Properties has a 52-week low of $76.27 and a 52-week high of $105.51. The company’s 50-day moving average is $95.26 and its two-hundred day moving average is $94.43. The company has a debt-to-equity ratio of 4.98, a quick ratio of 1.49 and a current ratio of 1.49. The firm has a market cap of $5.94 billion, a price-to-earnings ratio of 24.96, a PEG ratio of 2.42 and a beta of 1.21.

Ryman Hospitality Properties (NYSE:RHP) last posted its quarterly earnings results on Tuesday, November 4th. The real estate investment trust reported $1.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.59 by $0.04. The company had revenue of $592.46 million for the quarter, compared to the consensus estimate of $573.40 million. Ryman Hospitality Properties had a net margin of 9.58% and a return on equity of 34.50%. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period last year, the firm posted $1.93 EPS. On average, analysts predict that Ryman Hospitality Properties will post 8.81 earnings per share for the current year.

Insider Activity at Ryman Hospitality Properties

In related news, Chairman Colin V. Reed bought 8,993 shares of Ryman Hospitality Properties stock in a transaction that occurred on Friday, November 7th. The stock was acquired at an average price of $92.16 per share, with a total value of $828,794.88. Following the acquisition, 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 position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 5.00% of the company’s stock.

Hedge Funds Weigh In On Ryman Hospitality Properties

A number of institutional investors have recently added to or reduced their stakes in RHP. Hamlin Capital Management LLC lifted its position in Ryman Hospitality Properties by 0.7% during the second quarter. Hamlin Capital Management LLC now owns 894,486 shares of the real estate investment trust’s stock valued at $88,259,000 after buying an additional 6,530 shares during the period. Peregrine Capital Management LLC raised its position in Ryman Hospitality Properties by 4,049.6% in the 2nd quarter. Peregrine Capital Management LLC now owns 56,144 shares of the real estate investment trust’s stock worth $5,540,000 after buying an additional 54,791 shares during the last quarter. Bayforest Capital Ltd purchased a new position in shares of Ryman Hospitality Properties during the third quarter valued at approximately $776,000. Strs Ohio lifted its position in Ryman Hospitality Properties by 23.3% during the third quarter. Strs Ohio now owns 114,324 shares of the real estate investment trust’s stock valued at $10,242,000 after purchasing an additional 21,600 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in Ryman Hospitality Properties in the 2nd quarter worth approximately $344,000. 94.48% of the stock is currently owned by institutional investors and hedge funds.

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.