Ryman Hospitality Properties (NYSE:RHP) Given New $111.00 Price Target at JPMorgan Chase & Co.

Ryman Hospitality Properties (NYSE:RHP) had its target price hoisted by JPMorgan Chase & Co. from $110.00 to $111.00 in a research note released on Tuesday morning,Benzinga reports. The brokerage currently has an overweight rating on the real estate investment trust’s stock.

Several other analysts also recently issued reports on RHP. Morgan Stanley upgraded Ryman Hospitality Properties from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $88.00 to $105.00 in a research note on Friday, April 10th. Wells Fargo & Company lowered their price objective on Ryman Hospitality Properties from $109.00 to $105.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 24th. Evercore reissued an “outperform” rating and set a $115.00 target price on shares of Ryman Hospitality Properties in a report on Friday, February 6th. Weiss Ratings reissued a “hold (c)” rating on shares of Ryman Hospitality Properties in a research report on Wednesday, January 28th. Finally, Cantor Fitzgerald upped their price target on shares of Ryman Hospitality Properties from $108.00 to $115.00 and gave the company an “overweight” rating in a research note on Tuesday, March 3rd. Ten equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Ryman Hospitality Properties presently has an average rating of “Moderate Buy” and a consensus target price of $114.10.

Ryman Hospitality Properties Trading Down 2.0%

Shares of NYSE:RHP opened at $102.26 on Tuesday. Ryman Hospitality Properties has a 12-month low of $83.82 and a 12-month high of $105.75. The stock has a market cap of $6.45 billion, a PE ratio of 27.20, a P/E/G ratio of 1.99 and a beta of 1.19. The business has a 50 day moving average of $97.20 and a 200-day moving average of $94.75. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 5.04.

Ryman Hospitality Properties Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were given a dividend of $1.20 per share. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $4.80 dividend on an annualized basis and a yield of 4.7%. Ryman Hospitality Properties’s dividend payout ratio is currently 127.66%.

Hedge Funds Weigh In On Ryman Hospitality Properties

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RHP. Cornerstone Planning Group LLC lifted its position in shares of Ryman Hospitality Properties by 2,241.7% during the 3rd quarter. Cornerstone Planning Group LLC now owns 281 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 269 shares during the period. Hantz Financial Services Inc. raised its stake in 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 valued at $26,000 after purchasing an additional 218 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its stake in Ryman Hospitality Properties by 61.7% in the third quarter. Caitong International Asset Management Co. Ltd now owns 296 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 113 shares in the last quarter. Global Retirement Partners LLC lifted its position in Ryman Hospitality Properties by 155.0% during the fourth quarter. Global Retirement Partners LLC now owns 283 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 172 shares during the period. Finally, Geneos Wealth Management Inc. lifted its position in Ryman Hospitality Properties by 240.2% during the first quarter. Geneos Wealth Management Inc. now owns 296 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 209 shares during the period. 94.48% of the stock is owned by institutional investors and hedge funds.

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.