Ryman Hospitality Properties (NYSE:RHP) Now Covered by Analysts at JPMorgan Chase & Co.

JPMorgan Chase & Co. initiated coverage on shares of Ryman Hospitality Properties (NYSE:RHP) in a research report released on Monday morning, Marketbeat Ratings reports. The brokerage issued an overweight rating and a $117.00 target price on the real estate investment trust’s stock.

A number of other research firms have also weighed in on RHP. Truist Financial dropped their price objective on shares of Ryman Hospitality Properties from $127.00 to $120.00 and set a “buy” rating on the stock in a research note on Friday, May 30th. Jefferies Financial Group dropped their price target on shares of Ryman Hospitality Properties from $118.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, April 9th. Wells Fargo & Company reissued an “overweight” rating and set a $101.00 price target (up from $99.00) on shares of Ryman Hospitality Properties in a research report on Thursday, May 22nd. Evercore ISI decreased their price objective on shares of Ryman Hospitality Properties from $130.00 to $120.00 and set an “outperform” rating for the company in a report on Monday, April 28th. Finally, Wedbush set a $110.00 price objective on shares of Ryman Hospitality Properties and gave the stock an “outperform” rating in a report on Tuesday, May 6th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $114.43.

Ryman Hospitality Properties Stock Down 1.5%

Ryman Hospitality Properties stock opened at $98.86 on Monday. Ryman Hospitality Properties has a 1-year low of $76.27 and a 1-year high of $121.77. The firm has a market capitalization of $5.93 billion, a price-to-earnings ratio of 20.94, a price-to-earnings-growth ratio of 2.73 and a beta of 1.58. The firm’s fifty day moving average price is $94.97 and its two-hundred day moving average price is $98.18. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 5.92.

Ryman Hospitality Properties (NYSE:RHP) last released its quarterly earnings data on Thursday, May 1st. The real estate investment trust reported $2.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.79 by $0.29. Ryman Hospitality Properties had a net margin of 12.16% and a return on equity of 51.95%. The firm had revenue of $587.28 million for the quarter, compared to analyst estimates of $546.52 million. During the same period last year, the firm earned $1.60 earnings per share. The business’s quarterly revenue was up 11.2% compared to the same quarter last year. On average, equities research analysts predict that Ryman Hospitality Properties will post 8.81 earnings per share for the current fiscal year.

Ryman Hospitality Properties Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be paid a $1.15 dividend. The ex-dividend date is Monday, June 30th. This represents a $4.60 dividend on an annualized basis and a yield of 4.65%. Ryman Hospitality Properties’s dividend payout ratio is presently 97.46%.

Insiders Place Their Bets

In other Ryman Hospitality Properties news, Director Alvin L. Bowles, Jr. sold 1,300 shares of the business’s stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $99.01, for a total value of $128,713.00. Following the completion of the transaction, the director now owns 2,576 shares of the company’s stock, valued at $255,049.76. The trade was a 33.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Colin V. Reed acquired 8,356 shares of the stock in a transaction dated Monday, June 9th. The stock was acquired at an average price of $96.92 per share, with a total value of $809,863.52. Following the completion of the acquisition, the chairman now owns 870,406 shares in the company, valued at approximately $84,359,749.52. The trade was a 0.97% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 5.00% of the company’s stock.

Institutional Trading of Ryman Hospitality Properties

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Voya Investment Management LLC grew its position in shares of Ryman Hospitality Properties by 2.9% in the 1st quarter. Voya Investment Management LLC now owns 22,229 shares of the real estate investment trust’s stock worth $2,033,000 after buying an additional 630 shares during the period. Strs Ohio purchased a new stake in shares of Ryman Hospitality Properties in the 1st quarter worth about $8,214,000. Geneos Wealth Management Inc. grew its position in Ryman Hospitality Properties by 240.2% during 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. Intech Investment Management LLC grew its position in Ryman Hospitality Properties by 24.6% during the 1st quarter. Intech Investment Management LLC now owns 34,661 shares of the real estate investment trust’s stock valued at $3,169,000 after purchasing an additional 6,842 shares during the last quarter. Finally, Jane Street Group LLC grew its position in 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 during the last quarter. 94.48% of the stock is owned by hedge funds and other institutional investors.

Ryman Hospitality Properties Company Profile

Ryman Hospitality Properties, Inc (NYSE: RHP) is a leading lodging and hospitality real estate investment trust that specializes in upscale convention center resorts and entertainment experiences. The Company's holdings include Gaylord Opryland Resort & Convention Center; Gaylord Palms Resort & Convention Center; Gaylord Texan Resort & Convention Center; Gaylord National Resort & Convention Center; and Gaylord Rockies Resort & Convention Center, five of the top seven largest non-gaming convention center hotels in the United States based on total indoor meeting space.