JPMorgan Chase & Co. Begins Coverage on Ryman Hospitality Properties (NYSE:RHP)

JPMorgan Chase & Co. began coverage on shares of Ryman Hospitality Properties (NYSE:RHP - Free Report) in a report issued on Monday morning, MarketBeat Ratings reports. The firm issued an overweight rating and a $117.00 target price on the real estate investment trust's stock.

Other equities research analysts have also recently issued reports about the company. Jefferies Financial Group lowered their target price on Ryman Hospitality Properties from $118.00 to $100.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $101.00 price objective (up from $99.00) on shares of Ryman Hospitality Properties in a research note on Thursday, May 22nd. Truist Financial cut their target price on shares of Ryman Hospitality Properties from $127.00 to $120.00 and set a "buy" rating on the stock in a research report on Friday, May 30th. Wall Street Zen upgraded shares of Ryman Hospitality Properties from a "sell" rating to a "hold" rating in a report on Saturday, March 1st. Finally, Evercore ISI cut their price objective on shares of Ryman Hospitality Properties from $130.00 to $120.00 and set an "outperform" rating on the stock in a report on Monday, April 28th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $114.43.

Ryman Hospitality Properties Trading Up 1.3%

Ryman Hospitality Properties stock traded up $1.24 during mid-day trading on Monday, hitting $100.06. The company's stock had a trading volume of 456,754 shares, compared to its average volume of 662,926. The company has a debt-to-equity ratio of 5.92, a quick ratio of 1.55 and a current ratio of 1.55. The company has a 50 day moving average of $95.25 and a 200-day moving average of $98.05. Ryman Hospitality Properties has a one year low of $76.27 and a one year high of $121.77. The stock has a market cap of $6.00 billion, a PE ratio of 21.20, a P/E/G ratio of 2.69 and a beta of 1.58.

Ryman Hospitality Properties (NYSE:RHP - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The real estate investment trust reported $2.08 EPS for the quarter, topping 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 analysts' expectations of $546.52 million. During the same period in the prior year, the business posted $1.60 earnings per share. The business's revenue for the quarter was up 11.2% on a year-over-year basis. On average, research analysts anticipate that Ryman Hospitality Properties will post 8.81 EPS for the current year.

Ryman Hospitality Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be given a dividend of $1.15 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $4.60 dividend on an annualized basis and a yield of 4.60%. Ryman Hospitality Properties's dividend payout ratio is presently 97.46%.

Insider Activity

In other news, Chairman Colin V. Reed purchased 8,356 shares of the stock in a transaction that occurred on Monday, June 9th. The shares were purchased at an average cost 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 of the company's stock, valued at approximately $84,359,749.52. This represents a 0.97% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Alvin L. Bowles, Jr. sold 1,300 shares of Ryman Hospitality Properties stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $99.01, for a total transaction of $128,713.00. Following the completion of the transaction, the director now directly 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 disclosure for this sale can be found here. Insiders own 5.00% of the company's stock.

Hedge Funds Weigh In On Ryman Hospitality Properties

A number of large investors have recently bought and sold shares of RHP. Vanguard Group Inc. lifted its holdings in Ryman Hospitality Properties by 7.3% during 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 purchasing an additional 603,936 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Ryman Hospitality Properties by 6.4% during 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 last quarter. JPMorgan Chase & Co. lifted its stake in 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 buying an additional 138,771 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in 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 worth $90,621,000 after buying an additional 11,872 shares during the last quarter. Finally, Nuveen Asset Management LLC boosted its holdings in Ryman Hospitality Properties by 0.6% in 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 buying an additional 5,807 shares during the last quarter. Institutional investors and hedge funds own 94.48% of the company's stock.

About Ryman Hospitality Properties

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.