Wells Fargo & Company upgraded shares of Ryman Hospitality Properties (NYSE:RHP – Free Report) to a strong-buy rating in a report published on Thursday,Zacks.com reports.
A number of other analysts have also recently issued reports on the company. Morgan Stanley boosted 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. Raymond James Financial restated an “outperform” rating and issued a $125.00 price target on shares of Ryman Hospitality Properties in a report on Monday, June 8th. Barclays lifted their price target on shares of Ryman Hospitality Properties from $120.00 to $130.00 and gave the company an “overweight” rating in a research report on Tuesday. BMO Capital Markets reiterated an “outperform” rating and set a $137.00 price objective on shares of Ryman Hospitality Properties in a research note on Friday, June 12th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Ryman Hospitality Properties from $113.00 to $129.00 and gave the stock an “overweight” rating in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $127.10.
Ryman Hospitality Properties Stock Performance
Ryman Hospitality Properties Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 3.6%. The ex-dividend date was Tuesday, June 30th. Ryman Hospitality Properties’s dividend payout ratio (DPR) is presently 126.65%.
Hedge Funds Weigh In On Ryman Hospitality Properties
Several hedge funds and other institutional investors have recently bought and sold shares of RHP. Inspire Investing LLC boosted its holdings in Ryman Hospitality Properties by 2.0% in the 1st quarter. Inspire Investing LLC now owns 5,564 shares of the real estate investment trust’s stock worth $513,000 after acquiring an additional 111 shares during the period. Caitong International Asset Management Co. Ltd raised its stake in shares of Ryman Hospitality Properties by 61.7% during 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. Norinchukin Bank The lifted its position in shares of Ryman Hospitality Properties by 4.2% during the third quarter. Norinchukin Bank The now owns 2,978 shares of the real estate investment trust’s stock worth $267,000 after purchasing an additional 119 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in shares of Ryman Hospitality Properties by 0.4% during the first quarter. Janney Montgomery Scott LLC now owns 32,296 shares of the real estate investment trust’s stock worth $2,980,000 after purchasing an additional 124 shares in the last quarter. Finally, Lido Advisors LLC lifted its position in shares of Ryman Hospitality Properties by 3.1% during the fourth quarter. Lido Advisors LLC now owns 4,332 shares of the real estate investment trust’s stock worth $397,000 after purchasing an additional 132 shares in the last quarter. 94.48% of the stock is 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.
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