Ryman Hospitality Properties (NYSE:RHP) Given New $113.00 Price Target at JPMorgan Chase & Co.

Key Points

• JPMorgan raised its price target on Ryman Hospitality to $113.00 and kept an "overweight" rating, implying roughly a 4.5% upside from the prior close.
• Analyst sentiment is broadly positive with a consensus rating of "Buy" and a consensus price target of $115.20, after multiple firms (Truist, Evercore, Cantor Fitzgerald, Wells Fargo) recently lifted targets.
• Shares traded up about 2.6% to $108.10 on the day, the company has a market cap near $6.8 billion and is heavily institutionally owned (approximately 94.5%).

Ryman Hospitality Properties (NYSE:RHP - Get Free Report) had its price objective increased by JPMorgan Chase & Co. from $111.00 to $113.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has an "overweight" rating on the real estate investment trust's stock. JPMorgan Chase & Co.'s price target would indicate a potential upside of 4.53% from the stock's previous close.

A number of other analysts also recently issued reports on the stock. Evercore reaffirmed an "outperform" rating and set a $115.00 price target on shares of Ryman Hospitality Properties in a report on Friday, February 6th. Cantor Fitzgerald raised their price target on shares of Ryman Hospitality Properties from $108.00 to $115.00 and gave the company an "overweight" rating in a report on Tuesday, March 3rd. Truist Financial raised their price target on shares of Ryman Hospitality Properties from $121.00 to $129.00 and gave the company a "buy" rating in a report on Thursday, March 26th. Wells Fargo & Company raised their price target on shares of Ryman Hospitality Properties from $105.00 to $114.00 and gave the company an "overweight" rating in a report on Wednesday, April 22nd. Finally, Morgan Stanley raised shares of Ryman Hospitality Properties from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $88.00 to $105.00 in a report on Friday, April 10th. Eleven investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $115.20.

Ryman Hospitality Properties Stock Up 2.6%

NYSE:RHP traded up $2.70 on Tuesday, reaching $108.10. 641,270 shares of the stock traded hands, compared to its average volume of 528,832. The company has a market capitalization of $6.82 billion, a price-to-earnings ratio of 28.52, a PEG ratio of 2.27 and a beta of 1.22. The company has a current ratio of 1.35, a quick ratio of 1.46 and a debt-to-equity ratio of 5.15. Ryman Hospitality Properties has a 12 month low of $83.82 and a 12 month high of $109.94. The company's fifty day simple moving average is $97.33 and its 200 day simple moving average is $95.43.

Hedge Funds Weigh In On Ryman Hospitality Properties

Institutional investors and hedge funds have recently made changes to their positions in the business. First Dallas Securities Inc. boosted its holdings in shares of Ryman Hospitality Properties by 103.9% in the third quarter. First Dallas Securities Inc. now owns 26,050 shares of the real estate investment trust's stock worth $2,334,000 after buying an additional 13,275 shares during the last quarter. Centersquare Investment Management LLC boosted its holdings in shares of Ryman Hospitality Properties by 37.3% in the third quarter. Centersquare Investment Management LLC now owns 52,590 shares of the real estate investment trust's stock worth $4,712,000 after buying an additional 14,296 shares during the last quarter. Hamlin Capital Management LLC boosted its holdings in shares of Ryman Hospitality Properties by 10.5% in the third quarter. Hamlin Capital Management LLC now owns 987,976 shares of the real estate investment trust's stock worth $88,513,000 after buying an additional 93,490 shares during the last quarter. Bayforest Capital Ltd purchased a new position in shares of Ryman Hospitality Properties in the third quarter worth approximately $776,000. Finally, Bessemer Group Inc. boosted its holdings in shares of Ryman Hospitality Properties by 21.4% in the third quarter. Bessemer Group Inc. now owns 318,888 shares of the real estate investment trust's stock worth $28,570,000 after buying an additional 56,189 shares during the last quarter. Hedge funds and other institutional investors own 94.48% of the company's stock.

About Ryman Hospitality Properties

Ryman Hospitality Properties, Inc is a publicly traded real estate investment trust (REIT) specializing in the ownership and operation of group‐oriented, large convention center hotel resorts. The company's portfolio is anchored by its Gaylord Hotels brand, offering integrated resort, convention, entertainment and dining experiences under long‐term management agreements with Marriott International.

Ryman's flagship properties include Gaylord Opryland Resort & Convention Center in Nashville, Gaylord Texan Resort & Convention Center near Dallas/Fort Worth and Gaylord Palms Resort & Convention Center in Orlando, Florida.

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