Ryman Hospitality Properties (NYSE:RHP) Hits New 1-Year High – Here’s Why

Ryman Hospitality Properties, Inc. (NYSE:RHP)’s stock price hit a new 52-week high during trading on Friday . The company traded as high as $118.82 and last traded at $118.5190, with a volume of 78441 shares changing hands. The stock had previously closed at $117.06.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Morgan Stanley increased their price target on shares of Ryman Hospitality Properties from $105.00 to $112.00 and gave the company an “overweight” rating in a report on Tuesday, May 12th. Wells Fargo & Company increased their price target on shares of Ryman Hospitality Properties from $114.00 to $126.00 and gave the company an “overweight” rating in a report on Monday. Cantor Fitzgerald increased their price target on shares of Ryman Hospitality Properties from $115.00 to $124.00 and gave the company an “overweight” rating in a report on Wednesday, May 13th. Truist Financial increased their price objective on shares of Ryman Hospitality Properties from $129.00 to $132.00 and gave the stock a “buy” rating in a research report on Tuesday, May 26th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Ryman Hospitality Properties from $111.00 to $113.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 5th. Nine research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $120.33.

Ryman Hospitality Properties Price Performance

The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 5.15. The company has a market capitalization of $7.53 billion, a PE ratio of 31.47, a price-to-earnings-growth ratio of 2.64 and a beta of 1.22. The stock’s 50-day moving average is $104.27 and its two-hundred day moving average is $98.87.

Ryman Hospitality Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend is Tuesday, June 30th. Ryman Hospitality Properties’s dividend payout ratio is 126.65%.

Institutional Trading of Ryman Hospitality Properties

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC increased its position in shares of Ryman Hospitality Properties by 2,241.7% during the third quarter. Cornerstone Planning Group LLC now owns 281 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 269 shares during the period. Global Retirement Partners LLC increased its position in shares of 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 acquiring an additional 172 shares during the period. International Assets Investment Management LLC increased its position in shares of Ryman Hospitality Properties by 437.0% during the first quarter. International Assets Investment Management LLC now owns 290 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 236 shares during the period. Los Angeles Capital Management LLC purchased a new position in shares of Ryman Hospitality Properties during the fourth quarter worth approximately $28,000. Finally, Hantz Financial Services Inc. increased its position in shares of Ryman Hospitality Properties by 283.1% during the third quarter. Hantz Financial Services Inc. now owns 295 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 218 shares during the period. 94.48% of the stock is owned by hedge funds and other institutional investors.

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.