Ryman Hospitality Properties (NYSE:RHP) Price Target Cut to $111.00 by Analysts at JPMorgan Chase & Co.

Ryman Hospitality Properties (NYSE:RHP) had its target price lowered by JPMorgan Chase & Co. from $113.00 to $111.00 in a report released on Tuesday,Benzinga reports. The firm currently has an overweight rating on the real estate investment trust’s stock.

RHP has been the topic of a number of other research reports. Truist Financial increased their price objective on Ryman Hospitality Properties from $120.00 to $121.00 and gave the company a “buy” rating in a report on Thursday, December 4th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $131.00 price objective on shares of Ryman Hospitality Properties in a report on Tuesday, January 13th. Wells Fargo & Company cut their target price on shares of Ryman Hospitality Properties from $114.00 to $109.00 and set an “overweight” rating for the company in a research report on Monday, December 1st. Barclays set a $109.00 price target on Ryman Hospitality Properties in a research report on Tuesday, January 13th. Finally, Wall Street Zen upgraded Ryman Hospitality Properties from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Ten investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $109.73.

Ryman Hospitality Properties Stock Performance

RHP stock opened at $95.02 on Tuesday. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 4.98. The company has a market capitalization of $5.99 billion, a price-to-earnings ratio of 25.14, a P/E/G ratio of 2.41 and a beta of 1.21. Ryman Hospitality Properties has a 12 month low of $76.27 and a 12 month high of $105.51. The firm has a 50 day moving average of $95.23 and a two-hundred day moving average of $94.39.

Ryman Hospitality Properties (NYSE:RHP) last released its quarterly earnings results on Tuesday, November 4th. The real estate investment trust reported $1.63 earnings per share for the quarter, beating analysts’ consensus estimates of $1.59 by $0.04. The business had revenue of $592.46 million for the quarter, compared to the consensus estimate of $573.40 million. Ryman Hospitality Properties had a net margin of 9.58% and a return on equity of 34.50%. Ryman Hospitality Properties’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.93 EPS. As a group, equities analysts anticipate that Ryman Hospitality Properties will post 8.81 EPS for the current fiscal year.

Ryman Hospitality Properties Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were given a $1.20 dividend. This is a positive change from Ryman Hospitality Properties’s previous quarterly dividend of $1.15. This represents a $4.80 annualized dividend and a yield of 5.1%. The ex-dividend date of this dividend was Wednesday, December 31st. Ryman Hospitality Properties’s payout ratio is presently 126.98%.

Insider Activity at Ryman Hospitality Properties

In other news, Chairman Colin V. Reed acquired 8,993 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The shares were acquired at an average price of $92.16 per share, for a total transaction of $828,794.88. Following the completion of the purchase, the chairman owned 888,010 shares in the company, valued at approximately $81,839,001.60. This trade represents a 1.02% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 5.00% of the company’s stock.

Institutional Investors Weigh In On Ryman Hospitality Properties

Large investors have recently added to or reduced their stakes in the company. Hamlin Capital Management LLC boosted its position in shares of Ryman Hospitality Properties by 0.7% during the 2nd quarter. Hamlin Capital Management LLC now owns 894,486 shares of the real estate investment trust’s stock valued at $88,259,000 after acquiring an additional 6,530 shares during the last quarter. Peregrine Capital Management LLC raised its stake in Ryman Hospitality Properties by 4,049.6% in the second quarter. Peregrine Capital Management LLC now owns 56,144 shares of the real estate investment trust’s stock valued at $5,540,000 after purchasing an additional 54,791 shares in the last quarter. Bayforest Capital Ltd purchased a new stake in Ryman Hospitality Properties in the third quarter valued at approximately $776,000. Strs Ohio lifted its position in Ryman Hospitality Properties by 23.3% during the third quarter. Strs Ohio now owns 114,324 shares of the real estate investment trust’s stock valued at $10,242,000 after purchasing an additional 21,600 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in Ryman Hospitality Properties in the 2nd quarter worth approximately $344,000. Hedge funds and other institutional investors 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.