Ryman Hospitality Properties (NYSE:RHP) Reaches New 12-Month High After Analyst Upgrade

Key Points

• Ryman shares reached a 52-week high of $137.71 after Cantor Fitzgerald raised its price target from $135 to $152 and maintained an overweight rating.
• Analyst sentiment is broadly positive: the consensus rating is “Buy,” with a $136.67 average price target; 13 of 14 analysts rate the stock Buy or Strong Buy.
• In its latest quarter, Ryman’s revenue rose 10.7% year over year to $655.8 million, beating expectations, but earnings per share of $0.58 fell short of the $1.62 consensus estimate. Its annualized dividend is $4.80 per share, a 3.5% yield.

Shares of Ryman Hospitality Properties, Inc. (NYSE:RHP - Get Free Report) hit a new 52-week high on Tuesday after Cantor Fitzgerald raised their price target on the stock from $135.00 to $152.00. Cantor Fitzgerald currently has an overweight rating on the stock. Ryman Hospitality Properties traded as high as $137.71 and last traded at $137.3480, with a volume of 141,128 shares trading hands. The stock had previously closed at $135.42.

Other equities research analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. upped their price objective on shares of Ryman Hospitality Properties from $129.00 to $138.00 and gave the stock an "overweight" rating in a report on Wednesday, October 21st. Raymond James Financial increased their target price on shares of Ryman Hospitality Properties from $125.00 to $130.00 and gave the stock an "outperform" rating in a report on Monday, September 28th. Jefferies Financial Group reiterated a "buy" rating and set a $145.00 price objective on shares of Ryman Hospitality Properties in a research report on Wednesday, August 12th. Barclays cut their price target on Ryman Hospitality Properties from $147.00 to $143.00 and set an "overweight" rating on the stock in a research note on Tuesday, October 13th. Finally, Evercore lowered Ryman Hospitality Properties from an "outperform" rating to an "in-line" rating and set a $140.00 price objective for the company. in a report on Monday, October 26th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $136.67.

Institutional Trading of Ryman Hospitality Properties

Several hedge funds have recently made changes to their positions in RHP. Edgestream Partners L.P. bought a new stake in Ryman Hospitality Properties in the third quarter valued at $9,623,000. Teachers Retirement System of The State of Kentucky lifted its position in Ryman Hospitality Properties by 6.4% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 16,620 shares of the real estate investment trust's stock valued at $1,987,000 after purchasing an additional 1,000 shares during the last quarter. Bessemer Group Inc. boosted its stake in Ryman Hospitality Properties by 3.9% during the 3rd quarter. Bessemer Group Inc. now owns 276,276 shares of the real estate investment trust's stock valued at $33,023,000 after purchasing an additional 10,342 shares during the period. Hantz Financial Services Inc. grew its position in Ryman Hospitality Properties by 13.1% in the 3rd quarter. Hantz Financial Services Inc. now owns 1,194 shares of the real estate investment trust's stock worth $143,000 after purchasing an additional 138 shares during the last quarter. Finally, Diversified Trust Co grew its position in Ryman Hospitality Properties by 4.2% in the 3rd quarter. Diversified Trust Co now owns 22,302 shares of the real estate investment trust's stock worth $2,666,000 after purchasing an additional 890 shares during the last quarter. Hedge funds and other institutional investors own 94.48% of the company's stock.

Ryman Hospitality Properties Stock Up 1.7%

The stock has a market cap of $9.50 billion, a P/E ratio of 33.20, a price-to-earnings-growth ratio of 2.02 and a beta of 1.23. The company has a current ratio of 1.15, a quick ratio of 1.34 and a debt-to-equity ratio of 3.29. The stock's 50-day moving average is $125.36 and its 200-day moving average is $114.67.

Ryman Hospitality Properties (NYSE:RHP - Get Free Report) last released its earnings results on Monday, November 2nd. The real estate investment trust reported $0.58 earnings per share for the quarter, missing the consensus estimate of $1.62 by ($1.04). Ryman Hospitality Properties had a return on equity of 29.45% and a net margin of 9.88%. The firm had revenue of $655.80 million during the quarter, compared to analysts' expectations of $646.13 million. During the same period last year, the business earned $1.63 earnings per share. The business's revenue was up 10.7% on a year-over-year basis. As a group, research analysts anticipate that Ryman Hospitality Properties, Inc. will post 9.31 earnings per share for the current fiscal year.

Ryman Hospitality Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were paid a $1.20 dividend. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $4.80 dividend on an annualized basis and a yield of 3.5%. Ryman Hospitality Properties's payout ratio is presently 115.94%.

About Ryman Hospitality Properties

Ryman Hospitality Properties, Inc is a real estate investment trust focused on upscale hotels and resorts designed for conventions and large group events. Its portfolio includes the Gaylord Hotels properties in Nashville, Tennessee; Orlando, Florida; Grapevine, Texas; National Harbor, Maryland; and Aurora, Colorado. These destination resorts combine lodging with extensive meeting and convention facilities, dining, and entertainment.

The company also owns and operates entertainment venues and related businesses through Opry Entertainment Group.

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