Ryman Hospitality Properties (NYSE:RHP) Reaches New 52-Week High - Time to Buy?

Key Points

• Ryman Hospitality Properties hit a new 52-week high on Friday, trading as high as $133.00 before closing around $132.34.
• Analysts remain broadly bullish, with 10 Buy ratings and one Hold; recent price targets range up to $137, above the stock’s average target of $127.10.
• The REIT recently paid a quarterly dividend of $1.20 per share ($4.80 annualized), for a yield of about 3.6%, though its payout ratio is elevated at 126.65%.

Ryman Hospitality Properties, Inc. (NYSE:RHP - Get Free Report) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $133.00 and last traded at $132.3440, with a volume of 119306 shares. The stock had previously closed at $128.89.

Analysts Set New Price Targets

RHP has been the topic of several research analyst reports. Raymond James Financial reissued an "outperform" rating and set a $125.00 target price on shares of Ryman Hospitality Properties in a research report on Monday, June 8th. Truist Financial increased their price target on shares of Ryman Hospitality Properties from $129.00 to $132.00 and gave the company a "buy" rating in a research note on Tuesday, May 26th. JPMorgan Chase & Co. raised their price objective on shares of Ryman Hospitality Properties from $113.00 to $129.00 and gave the stock an "overweight" rating in a report on Tuesday. BMO Capital Markets restated an "outperform" rating and set a $137.00 price objective on shares of Ryman Hospitality Properties in a research report on Friday, June 12th. Finally, Morgan Stanley upped their target price on shares of Ryman Hospitality Properties from $105.00 to $112.00 and gave the company an "overweight" rating in a report on Tuesday, May 12th. Ten research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $127.10.

Ryman Hospitality Properties Stock Performance

The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 5.15. The firm has a 50-day simple moving average of $121.78 and a 200 day simple moving average of $106.37. The company has a market cap of $8.42 billion, a price-to-earnings ratio of 35.21, a price-to-earnings-growth ratio of 2.35 and a beta of 1.20.

Ryman Hospitality Properties Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a dividend of $1.20 per share. The ex-dividend date was Tuesday, June 30th. This represents a $4.80 dividend on an annualized basis and a yield of 3.6%. Ryman Hospitality Properties's dividend payout ratio is currently 126.65%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. International Assets Investment Management LLC boosted its stake in shares of Ryman Hospitality Properties by 437.0% during the first quarter. International Assets Investment Management LLC now owns 290 shares of the real estate investment trust's stock worth $27,000 after buying an additional 236 shares during the period. Caitong International Asset Management Co. Ltd raised its stake in Ryman Hospitality Properties by 61.7% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 296 shares of the real estate investment trust's stock valued at $27,000 after acquiring an additional 113 shares during the last quarter. Global Retirement Partners LLC raised its stake in Ryman Hospitality Properties by 155.0% during the 4th quarter. Global Retirement Partners LLC now owns 283 shares of the real estate investment trust's stock valued at $27,000 after acquiring an additional 172 shares during the last quarter. Geneos Wealth Management Inc. lifted its position in Ryman Hospitality Properties by 240.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 296 shares of the real estate investment trust's stock worth $27,000 after acquiring an additional 209 shares during the period. Finally, Los Angeles Capital Management LLC acquired a new stake in Ryman Hospitality Properties during the 4th quarter worth approximately $28,000. 94.48% of the stock is currently owned by institutional investors and hedge funds.

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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