Ryman Hospitality Properties, Inc. (NYSE:RHP – Get Free Report) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $133.44 and last traded at $131.5060, with a volume of 244 shares traded. The stock had previously closed at $132.13.
Wall Street Analyst Weigh In
A number of research firms recently commented on RHP. Morgan Stanley boosted their price target on Ryman Hospitality Properties from $105.00 to $112.00 and gave the company an “overweight” rating in a research note on Tuesday, May 12th. Wells Fargo & Company raised their target price on shares of Ryman Hospitality Properties from $114.00 to $126.00 and gave the company an “overweight” rating in a report on Monday, June 1st. Truist Financial boosted their target price on shares of Ryman Hospitality Properties from $129.00 to $132.00 and gave the company a “buy” rating in a research report on Tuesday, May 26th. BMO Capital Markets reaffirmed an “outperform” rating and set a $137.00 price target on shares of Ryman Hospitality Properties in a report on Friday, June 12th. Finally, JPMorgan Chase & Co. increased their price target on shares of Ryman Hospitality Properties from $111.00 to $113.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 5th. Eleven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $122.27.
View Our Latest Stock Analysis on RHP
Ryman Hospitality Properties Trading Down 0.1%
Ryman Hospitality Properties Dividend Announcement
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 paid a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Tuesday, June 30th. Ryman Hospitality Properties’s payout ratio is presently 126.65%.
Institutional Investors Weigh In On Ryman Hospitality Properties
Several hedge funds have recently modified their holdings of RHP. Norges Bank bought a new stake in Ryman Hospitality Properties during the 4th quarter worth $48,036,000. Invesco Ltd. raised its stake in shares of Ryman Hospitality Properties by 184.9% during the third quarter. Invesco Ltd. now owns 739,608 shares of the real estate investment trust’s stock valued at $66,261,000 after acquiring an additional 479,990 shares during the last quarter. Balyasny Asset Management L.P. acquired a new position in shares of Ryman Hospitality Properties during the third quarter worth $30,975,000. Qube Research & Technologies Ltd bought a new stake in shares of Ryman Hospitality Properties in the third quarter worth $18,161,000. Finally, UBS Group AG increased its holdings in Ryman Hospitality Properties by 116.3% in the third quarter. UBS Group AG now owns 371,163 shares of the real estate investment trust’s stock valued at $33,252,000 after purchasing an additional 199,556 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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