Ryman Hospitality Properties (NYSE:RHP) Reaches New 12-Month High After Analyst Upgrade

Shares of Ryman Hospitality Properties, Inc. (NYSE:RHP) hit a new 52-week high during trading on Friday after Wells Fargo & Company upgraded the stock to a strong-buy rating. The company traded as high as $133.00 and last traded at $132.3440, with a volume of 119306 shares trading hands. The stock had previously closed at $128.89.

Several other research firms also recently issued reports on RHP. Raymond James Financial restated an “outperform” rating and set a $125.00 target price on shares of Ryman Hospitality Properties in a research report on Monday, June 8th. Barclays boosted their price objective on Ryman Hospitality Properties from $120.00 to $130.00 and gave the company an “overweight” rating in a research note on Tuesday. Morgan Stanley increased their price objective on Ryman Hospitality Properties from $105.00 to $112.00 and gave the stock an “overweight” rating in a report on Tuesday, May 12th. Weiss Ratings downgraded Ryman Hospitality Properties from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, May 6th. Finally, JPMorgan Chase & Co. lifted their target price on Ryman Hospitality Properties from $113.00 to $129.00 and gave the company an “overweight” rating in a report on Tuesday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $127.10.

Hedge Funds Weigh In On Ryman Hospitality Properties

A number of institutional investors have recently added to or reduced their stakes in RHP. Norges Bank purchased a new stake in shares of Ryman Hospitality Properties in the 4th quarter valued at about $48,036,000. Invesco Ltd. increased its position in shares of Ryman Hospitality Properties by 184.9% in the third quarter. Invesco Ltd. now owns 739,608 shares of the real estate investment trust’s stock worth $66,261,000 after purchasing an additional 479,990 shares during the last quarter. Balyasny Asset Management L.P. purchased a new stake in Ryman Hospitality Properties in the third quarter valued at approximately $30,975,000. Qube Research & Technologies Ltd purchased a new stake in Ryman Hospitality Properties in the third quarter valued at approximately $18,161,000. Finally, UBS Group AG raised its stake 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 in the last quarter. 94.48% of the stock is currently owned by institutional investors.

Ryman Hospitality Properties Trading Up 3.2%

The firm has a market capitalization of $8.39 billion, a P/E ratio of 35.09, a price-to-earnings-growth ratio of 2.39 and a beta of 1.20. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 5.15. The firm’s 50-day simple moving average is $122.35 and its 200-day simple moving average is $106.56.

Ryman Hospitality Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were given a dividend of $1.20 per share. The ex-dividend date was Tuesday, June 30th. This represents a $4.80 annualized dividend and a dividend yield of 3.6%. Ryman Hospitality Properties’s dividend payout ratio (DPR) is 126.65%.

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.