Ryman Hospitality Properties, Inc. (NYSE:RHP – Get Free Report)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $124.70 and last traded at $123.4230, with a volume of 498318 shares. The stock had previously closed at $122.47.
Wall Street Analysts Forecast Growth
Several equities research analysts recently weighed in on RHP shares. Weiss Ratings downgraded Ryman Hospitality Properties from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, May 6th. Morgan Stanley upped their target price on Ryman Hospitality Properties from $105.00 to $112.00 and gave the stock an “overweight” rating in a report on Tuesday, May 12th. Wells Fargo & Company increased their target price on Ryman Hospitality Properties from $114.00 to $126.00 and gave the company an “overweight” rating in a research report on Monday, June 1st. Cantor Fitzgerald lifted their price target 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. Finally, Truist Financial boosted their price target on Ryman Hospitality Properties from $129.00 to $132.00 and gave the stock a “buy” rating in a report on Tuesday, May 26th. Eleven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $122.27.
Check Out Our Latest Stock Analysis on RHP
Ryman Hospitality Properties Trading Up 0.8%
Ryman Hospitality Properties Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be issued a dividend of $1.20 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $4.80 annualized dividend and a yield of 3.9%. Ryman Hospitality Properties’s payout ratio is presently 126.65%.
Institutional Investors Weigh In On Ryman Hospitality Properties
Several institutional investors and hedge funds have recently made changes to their positions in RHP. Royal Bank of Canada lifted its stake in shares of Ryman Hospitality Properties by 44.1% in the first quarter. Royal Bank of Canada now owns 39,740 shares of the real estate investment trust’s stock worth $3,634,000 after acquiring an additional 12,169 shares during the period. AQR Capital Management LLC increased its position in Ryman Hospitality Properties by 131.0% during the 1st quarter. AQR Capital Management LLC now owns 13,418 shares of the real estate investment trust’s stock valued at $1,227,000 after purchasing an additional 7,610 shares during the period. Goldman Sachs Group Inc. raised its holdings in Ryman Hospitality Properties by 8.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 784,970 shares of the real estate investment trust’s stock worth $71,778,000 after purchasing an additional 63,507 shares during the last quarter. Jane Street Group LLC raised its holdings in Ryman Hospitality Properties by 306.5% during the 1st quarter. Jane Street Group LLC now owns 36,162 shares of the real estate investment trust’s stock worth $3,307,000 after purchasing an additional 27,267 shares during the last quarter. Finally, Geneos Wealth Management Inc. lifted its position in shares of Ryman Hospitality Properties by 240.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 296 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 209 shares during the period. Institutional investors and hedge funds own 94.48% of the company’s stock.
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.
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