Ryman Hospitality Properties (NYSE:RHP) Given New $105.00 Price Target at Wells Fargo & Company

Ryman Hospitality Properties (NYSE:RHP) had its price target cut by Wells Fargo & Company from $109.00 to $105.00 in a report released on Tuesday,Benzinga reports. They currently have an overweight rating on the real estate investment trust’s stock.

Several other research firms also recently issued reports on RHP. JPMorgan Chase & Co. dropped their price target on shares of Ryman Hospitality Properties from $113.00 to $111.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ryman Hospitality Properties in a research report on Wednesday, January 28th. Morgan Stanley set a $88.00 price target on Ryman Hospitality Properties in a report on Friday, January 16th. Cantor Fitzgerald lifted their price objective on Ryman Hospitality Properties from $108.00 to $115.00 and gave the stock an “overweight” rating in a report on Tuesday, March 3rd. Finally, Evercore reiterated an “outperform” rating and set a $115.00 target price on shares of Ryman Hospitality Properties in a research note on Friday, February 6th. Ten equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $110.45.

Ryman Hospitality Properties Stock Down 1.6%

Shares of NYSE:RHP opened at $90.41 on Tuesday. The company has a market capitalization of $5.70 billion, a price-to-earnings ratio of 24.04, a price-to-earnings-growth ratio of 1.77 and a beta of 1.18. The company has a 50 day moving average of $96.70 and a two-hundred day moving average of $94.56. Ryman Hospitality Properties has a 52-week low of $76.27 and a 52-week high of $105.75. 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 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be given a $1.20 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $4.80 annualized dividend and a dividend yield of 5.3%. Ryman Hospitality Properties’s dividend payout ratio (DPR) is presently 127.66%.

Hedge Funds Weigh In On Ryman Hospitality Properties

Large investors have recently added to or reduced their stakes in the company. First Dallas Securities Inc. boosted its stake in Ryman Hospitality Properties by 103.9% in the third quarter. First Dallas Securities Inc. now owns 26,050 shares of the real estate investment trust’s stock valued at $2,334,000 after acquiring an additional 13,275 shares during the period. Centersquare Investment Management LLC lifted its holdings in shares of Ryman Hospitality Properties by 37.3% in the 3rd quarter. Centersquare Investment Management LLC now owns 52,590 shares of the real estate investment trust’s stock worth $4,712,000 after purchasing an additional 14,296 shares during the last quarter. Bayforest Capital Ltd bought a new stake in shares of Ryman Hospitality Properties in the 3rd quarter worth approximately $776,000. Strs Ohio boosted its position in Ryman Hospitality Properties by 23.3% during the 3rd 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 period. Finally, Bessemer Group Inc. grew its stake in Ryman Hospitality Properties by 21.4% during the 3rd quarter. Bessemer Group Inc. now owns 318,888 shares of the real estate investment trust’s stock worth $28,570,000 after buying an additional 56,189 shares during the last quarter. 94.48% of the stock is currently owned by institutional investors.

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.