Wells Fargo & Company Cuts Ryman Hospitality Properties (NYSE:RHP) Price Target to $109.00

Ryman Hospitality Properties (NYSE:RHP) had its price objective dropped by equities research analysts at Wells Fargo & Company from $114.00 to $109.00 in a research report issued on Monday,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 15.26% from the company’s current price.

A number of other equities research analysts have also recently commented on RHP. Morgan Stanley initiated coverage on shares of Ryman Hospitality Properties in a research report on Wednesday, October 22nd. They set an “equal weight” rating and a $92.00 target price for the company. Wall Street Zen upgraded Ryman Hospitality Properties from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Weiss Ratings restated a “hold (c)” rating on shares of Ryman Hospitality Properties in a research note on Friday, October 31st. Evercore ISI reduced their target price on Ryman Hospitality Properties from $120.00 to $110.00 and set an “outperform” rating on the stock in a research report on Thursday, October 30th. Finally, Cantor Fitzgerald initiated coverage on Ryman Hospitality Properties in a report on Wednesday, October 1st. They issued an “overweight” rating and a $108.00 price target for the company. Nine analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $110.90.

Ryman Hospitality Properties Stock Down 0.9%

Shares of RHP traded down $0.86 during trading hours on Monday, hitting $94.57. The company had a trading volume of 23,076 shares, compared to its average volume of 739,710. Ryman Hospitality Properties has a one year low of $76.27 and a one year high of $121.77. The company’s fifty day moving average price is $91.00 and its two-hundred day moving average price is $95.68. The company has a market capitalization of $5.96 billion, a PE ratio of 22.52, a price-to-earnings-growth ratio of 1.60 and a beta of 1.60. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 4.72.

Ryman Hospitality Properties (NYSE:RHP) last announced its earnings results on Tuesday, November 4th. The real estate investment trust reported $1.63 EPS for the quarter, topping analysts’ consensus estimates of $1.59 by $0.04. The business had revenue of $592.46 million during the quarter, compared to the consensus estimate of $573.40 million. Ryman Hospitality Properties had a net margin of 10.74% and a return on equity of 41.65%. The firm’s revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.93 earnings per share. As a group, equities analysts forecast that Ryman Hospitality Properties will post 8.81 earnings per share for the current fiscal year.

Insider Activity

In other Ryman Hospitality Properties news, Chairman Colin V. Reed bought 8,993 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The stock was bought at an average cost of $92.16 per share, for a total transaction of $828,794.88. Following the completion of the transaction, the chairman directly owned 888,010 shares of the company’s stock, valued at approximately $81,839,001.60. This trade represents a 1.02% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 5.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Ryman Hospitality Properties

Several institutional investors have recently made changes to their positions in the company. Cornerstone Planning Group LLC grew its holdings in Ryman Hospitality Properties by 2,241.7% in the third quarter. Cornerstone Planning Group LLC now owns 281 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 269 shares during the period. Hantz Financial Services Inc. boosted its stake in shares of Ryman Hospitality Properties by 283.1% in the third quarter. Hantz Financial Services Inc. now owns 295 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 218 shares during the last quarter. Geneos Wealth Management Inc. raised its position in shares of Ryman Hospitality Properties by 240.2% in the first quarter. Geneos Wealth Management Inc. now owns 296 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 209 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its stake in Ryman Hospitality Properties by 61.7% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 296 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 113 shares in the last quarter. Finally, AlphaQuest LLC grew its position in shares of Ryman Hospitality Properties by 492.9% in the second quarter. AlphaQuest LLC now owns 332 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 276 shares in the last quarter. 94.48% of the stock is owned by hedge funds and other institutional investors.

Ryman Hospitality Properties Company Profile

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.