Ryman Hospitality Properties (NYSE:RHP) Sets New 12-Month High - Should You Buy?

Key Points

• Shares of Ryman Hospitality Properties hit a new 52-week high of $111.47 (last trade ~$111.03) on Thursday, with about 781,819 shares traded.
• Analysts are largely bullish — ten analysts rate RHP a Buy and the consensus price target is $115.78 after multiple firms (Truist, Wells Fargo, Barclays, JPMorgan) raised their targets recently.
• Ryman pays a quarterly dividend of $1.20 (annualized $4.80) for a 4.3% yield, but the payout ratio is high at 126.65%, and the company shows significant leverage (debt/equity ~5.15) while institutional investors own ~94.5% of the stock.

Shares of Ryman Hospitality Properties, Inc. (NYSE:RHP - Get Free Report) reached a new 52-week high on Thursday . The stock traded as high as $111.47 and last traded at $111.0250, with a volume of 781819 shares traded. The stock had previously closed at $108.14.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on RHP shares. Barclays upped their price objective on Ryman Hospitality Properties from $109.00 to $110.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 7th. Truist Financial upped their price objective on Ryman Hospitality Properties from $121.00 to $129.00 and gave the stock a "buy" rating in a research report on Thursday, March 26th. Wells Fargo & Company upped their price objective on Ryman Hospitality Properties from $105.00 to $114.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 22nd. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $131.00 price objective on shares of Ryman Hospitality Properties in a research report on Tuesday, January 13th. Finally, JPMorgan Chase & Co. upped their price objective on Ryman Hospitality Properties from $111.00 to $113.00 and gave the stock an "overweight" rating in a research report on Tuesday. Ten analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $115.78.

Ryman Hospitality Properties Stock Up 2.7%

The firm has a market cap of $7.01 billion, a P/E ratio of 29.29, a price-to-earnings-growth ratio of 2.16 and a beta of 1.22. The company has a quick ratio of 1.46, a current ratio of 1.35 and a debt-to-equity ratio of 5.15. The firm has a fifty day moving average of $97.56 and a 200-day moving average of $95.71.

Ryman Hospitality Properties Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 4.3%. The ex-dividend date was Tuesday, March 31st. Ryman Hospitality Properties's dividend payout ratio is presently 126.65%.

Institutional Trading of Ryman Hospitality Properties

Several institutional investors and hedge funds have recently bought and sold shares of RHP. Norges Bank bought a new stake in Ryman Hospitality Properties during the fourth quarter worth about $48,036,000. Invesco Ltd. raised its holdings in Ryman Hospitality Properties by 184.9% during the third quarter. Invesco Ltd. now owns 739,608 shares of the real estate investment trust's stock worth $66,261,000 after acquiring an additional 479,990 shares in the last quarter. Balyasny Asset Management L.P. bought a new stake in Ryman Hospitality Properties in the third quarter valued at approximately $30,975,000. Qube Research & Technologies Ltd bought a new stake in Ryman Hospitality Properties in the third quarter valued at approximately $18,161,000. Finally, UBS Group AG raised its stake in Ryman Hospitality Properties by 116.3% in the third quarter. UBS Group AG now owns 371,163 shares of the real estate investment trust's stock valued at $33,252,000 after buying an additional 199,556 shares during the period. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.