Ryman Hospitality Properties (NYSE:RHP) Price Target Raised to $110.00

Ryman Hospitality Properties (NYSE:RHP - Free Report) had its target price boosted by Bank of America from $105.00 to $110.00 in a research report report published on Monday morning,Benzinga reports. Bank of America currently has a buy rating on the real estate investment trust's stock.

RHP has been the subject of a number of other reports. Truist Financial reduced their target price on shares of Ryman Hospitality Properties from $127.00 to $120.00 and set a "buy" rating for the company in a report on Friday, May 30th. JPMorgan Chase & Co. assumed coverage on shares of Ryman Hospitality Properties in a research note on Monday, June 23rd. They set an "overweight" rating and a $117.00 price objective for the company. Evercore ISI lowered their target price on shares of Ryman Hospitality Properties from $130.00 to $120.00 and set an "outperform" rating for the company in a research note on Monday, April 28th. Wells Fargo & Company boosted their price objective on shares of Ryman Hospitality Properties from $101.00 to $108.00 and gave the company an "overweight" rating in a research note on Tuesday, July 15th. 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 analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Ryman Hospitality Properties currently has a consensus rating of "Moderate Buy" and an average target price of $114.75.

Ryman Hospitality Properties Trading Up 0.8%

Shares of RHP stock traded up $0.82 during trading on Monday, hitting $99.72. 787,255 shares of the stock traded hands, compared to its average volume of 674,422. The firm has a market capitalization of $5.98 billion, a P/E ratio of 21.13, a price-to-earnings-growth ratio of 2.70 and a beta of 1.57. The company has a debt-to-equity ratio of 5.92, a current ratio of 1.55 and a quick ratio of 1.55. The firm's fifty day moving average price is $99.10 and its 200-day moving average price is $97.16. Ryman Hospitality Properties has a 52-week low of $76.27 and a 52-week high of $121.77.

Ryman Hospitality Properties (NYSE:RHP - Get Free Report) last announced its earnings results on Thursday, May 1st. The real estate investment trust reported $2.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.79 by $0.29. The company had revenue of $587.28 million for the quarter, compared to analyst estimates of $546.52 million. Ryman Hospitality Properties had a return on equity of 51.95% and a net margin of 12.16%. The firm's quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.60 earnings per share. As a group, research analysts forecast that Ryman Hospitality Properties will post 8.81 earnings per share for the current fiscal year.

Ryman Hospitality Properties Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 4.61%. The ex-dividend date of this dividend was Monday, June 30th. Ryman Hospitality Properties's payout ratio is currently 97.46%.

Insider Buying and Selling

In other news, Director Alvin L. Bowles, Jr. sold 1,300 shares of Ryman Hospitality Properties stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $99.01, for a total transaction of $128,713.00. Following the transaction, the director directly owned 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 company's stock in a transaction that occurred on Monday, June 9th. The shares were acquired at an average price of $96.92 per share, with a total value of $809,863.52. Following the acquisition, the chairman owned 870,406 shares in the company, valued at $84,359,749.52. This trade represents a 0.97% increase in their ownership of the stock. The disclosure for this purchase can be found here. 5.00% of the stock is owned by corporate insiders.

Institutional Trading of Ryman Hospitality Properties

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Geneos Wealth Management Inc. grew its holdings in Ryman Hospitality Properties by 240.2% in the first 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 period. Heck Capital Advisors LLC acquired a new stake in shares of Ryman Hospitality Properties in the fourth quarter worth approximately $31,000. Fifth Third Bancorp raised its stake in Ryman Hospitality Properties by 175.6% in the 1st quarter. Fifth Third Bancorp now owns 576 shares of the real estate investment trust's stock valued at $53,000 after purchasing an additional 367 shares during the last quarter. First Community Trust NA raised its stake in Ryman Hospitality Properties by 20.0% in the 2nd quarter. First Community Trust NA now owns 600 shares of the real estate investment trust's stock valued at $59,000 after purchasing an additional 100 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd purchased a new position in Ryman Hospitality Properties in the 4th quarter valued at $72,000. 94.48% of the stock is owned by institutional investors and hedge funds.

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.