Ryman Hospitality Properties (NYSE:RHP) Given New $129.00 Price Target at Truist Financial

Ryman Hospitality Properties (NYSE:RHP) had its price target hoisted by Truist Financial from $121.00 to $129.00 in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has a buy rating on the real estate investment trust’s stock.

Other equities analysts also recently issued research reports about the company. Cantor Fitzgerald upped their target price on Ryman Hospitality Properties from $108.00 to $115.00 and gave the company an “overweight” rating in a report on Tuesday, March 3rd. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $131.00 price target on shares of Ryman Hospitality Properties in a report on Tuesday, January 13th. JPMorgan Chase & Co. lowered their price objective on shares of Ryman Hospitality Properties from $113.00 to $111.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 3rd. Morgan Stanley set a $88.00 price objective on shares of Ryman Hospitality Properties in a research note on Friday, January 16th. Finally, Wells Fargo & Company cut their target price on shares of Ryman Hospitality Properties from $109.00 to $105.00 and set an “overweight” rating for the company in a research report on Tuesday. Ten investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $111.18.

Ryman Hospitality Properties Stock Performance

Shares of RHP stock opened at $92.97 on Thursday. The company has a market capitalization of $5.86 billion, a price-to-earnings ratio of 24.73, a P/E/G ratio of 1.77 and a beta of 1.18. Ryman Hospitality Properties has a 1-year low of $76.27 and a 1-year high of $105.75. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 5.04. The stock’s fifty day simple moving average is $96.63 and its 200-day simple moving average is $94.53.

Ryman Hospitality Properties Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 5.2%. The ex-dividend date is Tuesday, March 31st. Ryman Hospitality Properties’s payout ratio is currently 127.66%.

Hedge Funds Weigh In On Ryman Hospitality Properties

A number of hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada raised its position in Ryman Hospitality Properties by 44.1% during the first quarter. Royal Bank of Canada now owns 39,740 shares of the real estate investment trust’s stock valued at $3,634,000 after acquiring an additional 12,169 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of Ryman Hospitality Properties by 131.0% during the 1st quarter. AQR Capital Management LLC now owns 13,418 shares of the real estate investment trust’s stock worth $1,227,000 after purchasing an additional 7,610 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Ryman Hospitality Properties by 8.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 784,970 shares of the real estate investment trust’s stock worth $71,778,000 after purchasing an additional 63,507 shares during the last quarter. Jane Street Group LLC raised its holdings in shares of Ryman Hospitality Properties by 306.5% during the 1st quarter. Jane Street Group LLC now owns 36,162 shares of the real estate investment trust’s stock valued at $3,307,000 after purchasing an additional 27,267 shares in the last quarter. Finally, Geneos Wealth Management Inc. lifted its stake in shares of Ryman Hospitality Properties by 240.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 296 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 209 shares during the last quarter. Institutional investors and hedge funds own 94.48% of the company’s stock.

Ryman Hospitality Properties Company Profile

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.