Ryman Hospitality Properties (NYSE:RHP) Research Coverage Started at JPMorgan Chase & Co.

JPMorgan Chase & Co. initiated coverage on shares of Ryman Hospitality Properties (NYSE:RHP) in a research note published on Monday morning, Marketbeat.com reports. The brokerage issued an overweight rating and a $117.00 target price on the real estate investment trust’s stock.

A number of other analysts also recently weighed in on the stock. Evercore ISI cut their price target on shares of Ryman Hospitality Properties from $130.00 to $120.00 and set an “outperform” rating for the company in a report on Monday, April 28th. Truist Financial cut their price target on shares of Ryman Hospitality Properties from $127.00 to $120.00 and set a “buy” rating for the company in a report on Friday, May 30th. Wall Street Zen raised shares of Ryman Hospitality Properties from a “sell” rating to a “hold” rating in a report on Saturday, March 1st. Jefferies Financial Group cut their price target on shares of Ryman Hospitality Properties from $118.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, April 9th. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and set a $101.00 price target (up previously from $99.00) on shares of Ryman Hospitality Properties in a report on Thursday, May 22nd. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $114.43.

Ryman Hospitality Properties Stock Performance

NYSE RHP opened at $98.86 on Monday. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 5.92. The company has a market capitalization of $5.93 billion, a P/E ratio of 20.94, a P/E/G ratio of 2.73 and a beta of 1.58. Ryman Hospitality Properties has a 12-month low of $76.27 and a 12-month high of $121.77. The firm has a 50-day moving average price of $94.97 and a two-hundred day moving average price of $98.18.

Ryman Hospitality Properties (NYSE:RHP) last posted its quarterly earnings data on Thursday, May 1st. The real estate investment trust reported $2.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.79 by $0.29. The firm had revenue of $587.28 million during the quarter, compared to the consensus estimate of $546.52 million. Ryman Hospitality Properties had a net margin of 12.16% and a return on equity of 51.95%. The business’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.60 EPS. Analysts anticipate that Ryman Hospitality Properties will post 8.81 earnings per share for the current year.

Ryman Hospitality Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 4.65%. The ex-dividend date is Monday, June 30th. Ryman Hospitality Properties’s dividend payout ratio (DPR) is currently 97.46%.

Insider Buying and Selling at Ryman Hospitality Properties

In other news, Chairman Colin V. Reed acquired 8,356 shares of Ryman Hospitality Properties stock in a transaction dated Monday, June 9th. The shares were bought at an average cost of $96.92 per share, with a total value of $809,863.52. Following the purchase, the chairman now owns 870,406 shares in the company, valued at $84,359,749.52. This trade represents a 0.97% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Alvin L. Bowles, Jr. sold 1,300 shares of the company’s stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $99.01, for a total transaction of $128,713.00. Following the completion of the sale, the director now directly owns 2,576 shares in the company, valued at approximately $255,049.76. This represents a 33.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 5.00% of the company’s stock.

Institutional Investors Weigh In On Ryman Hospitality Properties

A number of institutional investors have recently modified their holdings of RHP. DigitalBridge Group Inc. acquired a new stake in Ryman Hospitality Properties in the fourth quarter worth $12,218,000. Bank of Montreal Can grew its holdings in Ryman Hospitality Properties by 119.4% in the fourth quarter. Bank of Montreal Can now owns 50,846 shares of the real estate investment trust’s stock worth $5,305,000 after purchasing an additional 27,672 shares during the period. Victory Capital Management Inc. grew its holdings in Ryman Hospitality Properties by 87.3% in the fourth quarter. Victory Capital Management Inc. now owns 547,639 shares of the real estate investment trust’s stock worth $57,141,000 after purchasing an additional 255,229 shares during the period. Integrated Quantitative Investments LLC acquired a new stake in Ryman Hospitality Properties in the fourth quarter worth $336,000. Finally, Yousif Capital Management LLC acquired a new stake in Ryman Hospitality Properties in the first quarter worth $1,479,000. 94.48% of the stock is owned by institutional investors.

About Ryman Hospitality Properties

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.