Ryman Hospitality Properties (NYSE:RHP) Shares Gap Down – Should You Sell?

Ryman Hospitality Properties, Inc. (NYSE:RHP) gapped down before the market opened on Tuesday . The stock had previously closed at $99.17, but opened at $96.65. Ryman Hospitality Properties shares last traded at $97.55, with a volume of 589,427 shares traded.

Analyst Upgrades and Downgrades

RHP has been the subject of several recent analyst reports. Wells Fargo & Company reduced their price target on Ryman Hospitality Properties from $130.00 to $122.00 and set an “overweight” rating for the company in a report on Tuesday, February 18th. StockNews.com raised Ryman Hospitality Properties from a “sell” rating to a “hold” rating in a report on Saturday, March 1st. Jefferies Financial Group decreased their target price 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. Truist Financial reduced their price objective on shares of Ryman Hospitality Properties from $133.00 to $127.00 and set a “buy” rating for the company in a research note on Friday, March 21st. Finally, Wedbush set a $110.00 target price on shares of Ryman Hospitality Properties and gave the company an “outperform” rating in a report on Tuesday, May 6th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Ryman Hospitality Properties currently has a consensus rating of “Moderate Buy” and a consensus price target of $116.00.

Ryman Hospitality Properties Stock Down 2.3%

The company has a debt-to-equity ratio of 6.07, a current ratio of 1.73 and a quick ratio of 1.73. The firm’s 50-day moving average price is $90.92 and its 200 day moving average price is $101.10. The firm has a market capitalization of $5.69 billion, a price-to-earnings ratio of 21.59, a price-to-earnings-growth ratio of 2.71 and a beta of 1.55.

Ryman Hospitality Properties (NYSE:RHP) last announced its earnings results on Thursday, May 1st. The real estate investment trust reported $2.08 EPS for the quarter, beating analysts’ consensus estimates of $1.79 by $0.29. The firm had revenue of $587.28 million for the quarter, compared to analysts’ expectations of $546.52 million. Ryman Hospitality Properties had a return on equity of 49.23% and a net margin of 11.61%. Ryman Hospitality Properties’s quarterly revenue was up 11.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.60 EPS. Sell-side analysts expect that Ryman Hospitality Properties, Inc. will post 8.81 EPS for the current year.

Ryman Hospitality Properties Dividend Announcement

The company also recently announced 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 annualized dividend and a yield of 4.85%. Ryman Hospitality Properties’s payout ratio is currently 97.46%.

Insiders Place Their Bets

In related news, Director Alvin L. Bowles, Jr. sold 473 shares of the company’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $97.03, for a total value of $45,895.19. Following the completion of the transaction, the director now directly owns 2,675 shares in the company, valued at approximately $259,555.25. This represents a 15.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Colin V. Reed purchased 8,231 shares of the firm’s stock in a transaction on Wednesday, February 26th. The stock was acquired at an average cost of $97.54 per share, for a total transaction of $802,851.74. Following the completion of the purchase, the chairman now owns 832,260 shares in the company, valued at $81,178,640.40. The trade was a 1.00% 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

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Ryman Hospitality Properties by 7.3% in the first quarter. Vanguard Group Inc. now owns 8,899,258 shares of the real estate investment trust’s stock valued at $813,748,000 after acquiring an additional 603,936 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Ryman Hospitality Properties by 6.4% in the 1st quarter. Principal Financial Group Inc. now owns 3,462,112 shares of the real estate investment trust’s stock worth $316,576,000 after purchasing an additional 207,419 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Ryman Hospitality Properties by 10.7% in the 4th quarter. JPMorgan Chase & Co. now owns 1,439,719 shares of the real estate investment trust’s stock valued at $150,220,000 after purchasing an additional 138,771 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Ryman Hospitality Properties by 1.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 991,048 shares of the real estate investment trust’s stock valued at $90,621,000 after purchasing an additional 11,872 shares in the last quarter. Finally, Nuveen Asset Management LLC grew its holdings in shares of Ryman Hospitality Properties by 0.6% during the 4th quarter. Nuveen Asset Management LLC now owns 936,712 shares of the real estate investment trust’s stock worth $97,737,000 after purchasing an additional 5,807 shares during the period. 94.48% of the stock is currently owned by institutional investors and hedge funds.

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.