Wells Fargo & Company Trims Ryman Hospitality Properties (NYSE:RHP) Target Price to $115.00

Ryman Hospitality Properties (NYSE:RHP) had its price target decreased by equities researchers at Wells Fargo & Company from $127.00 to $115.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has an “overweight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 12.69% from the stock’s current price.

A number of other brokerages have also recently commented on RHP. Truist Financial cut their price target on shares of Ryman Hospitality Properties from $135.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday, May 30th. JPMorgan Chase & Co. upped their target price on Ryman Hospitality Properties from $104.00 to $105.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Finally, StockNews.com upgraded Ryman Hospitality Properties from a “sell” rating to a “hold” rating in a report on Friday, August 9th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $116.14.

Ryman Hospitality Properties Trading Up 0.6 %

Shares of NYSE RHP traded up $0.62 during midday trading on Friday, reaching $102.05. The stock had a trading volume of 108,179 shares, compared to its average volume of 444,662. Ryman Hospitality Properties has a twelve month low of $79.86 and a twelve month high of $122.91. The company has a debt-to-equity ratio of 5.96, a quick ratio of 1.92 and a current ratio of 1.92. The company’s 50 day moving average price is $101.00 and its 200 day moving average price is $105.63. The firm has a market cap of $6.11 billion, a price-to-earnings ratio of 21.12, a price-to-earnings-growth ratio of 2.11 and a beta of 1.66.

Insider Buying and Selling

In other Ryman Hospitality Properties news, Chairman Colin V. Reed purchased 8,077 shares of Ryman Hospitality Properties stock in a transaction that occurred on Tuesday, August 6th. The stock was acquired at an average price of $97.78 per share, with a total value of $789,769.06. Following the transaction, the chairman now owns 827,220 shares in the company, valued at approximately $80,885,571.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 3.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Ryman Hospitality Properties

Large investors have recently added to or reduced their stakes in the business. Quantbot Technologies LP raised its stake in shares of Ryman Hospitality Properties by 71.0% in the first quarter. Quantbot Technologies LP now owns 27,410 shares of the real estate investment trust’s stock worth $3,169,000 after purchasing an additional 11,384 shares during the last quarter. Quadrature Capital Ltd boosted its holdings in Ryman Hospitality Properties by 94.3% during the 1st quarter. Quadrature Capital Ltd now owns 20,639 shares of the real estate investment trust’s stock worth $2,389,000 after acquiring an additional 10,015 shares during the last quarter. Nordea Investment Management AB grew its stake in shares of Ryman Hospitality Properties by 13.0% in the 1st quarter. Nordea Investment Management AB now owns 79,598 shares of the real estate investment trust’s stock worth $9,249,000 after acquiring an additional 9,174 shares in the last quarter. SageView Advisory Group LLC raised its holdings in shares of Ryman Hospitality Properties by 203.2% in the first quarter. SageView Advisory Group LLC now owns 11,523 shares of the real estate investment trust’s stock valued at $1,332,000 after purchasing an additional 7,723 shares during the last quarter. Finally, Harbor Capital Advisors Inc. lifted its position in shares of Ryman Hospitality Properties by 378.7% during the second quarter. Harbor Capital Advisors Inc. now owns 21,329 shares of the real estate investment trust’s stock valued at $2,130,000 after purchasing an additional 16,873 shares in the last quarter. Institutional investors own 94.48% of the company’s stock.

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.