Ryman Hospitality Properties (NYSE:RHP) Given New $120.00 Price Target at Truist Financial

Ryman Hospitality Properties (NYSE:RHP - Free Report) had its price target trimmed by Truist Financial from $127.00 to $120.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a buy rating on the real estate investment trust's stock.

A number of other equities research analysts have also commented on RHP. Evercore ISI lowered their price target on Ryman Hospitality Properties from $130.00 to $120.00 and set an "outperform" rating for the company in a research report on Monday, April 28th. Wedbush set a $110.00 price objective on Ryman Hospitality Properties and gave the company an "outperform" rating in a research note on Tuesday, May 6th. Wells Fargo & Company restated an "overweight" rating and issued a $101.00 price objective (up previously from $99.00) on shares of Ryman Hospitality Properties in a research note on Thursday, May 22nd. Jefferies Financial Group reduced their price objective on Ryman Hospitality Properties from $118.00 to $100.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Finally, Wall Street Zen upgraded Ryman Hospitality Properties from a "sell" rating to a "hold" rating in a research note on Saturday, March 1st. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $112.00.

Ryman Hospitality Properties Stock Down 0.1%

Shares of NYSE:RHP traded down $0.14 during trading on Friday, reaching $97.20. 783,915 shares of the stock were exchanged, compared to its average volume of 645,756. The company has a debt-to-equity ratio of 6.07, a current ratio of 1.73 and a quick ratio of 1.73. Ryman Hospitality Properties has a 1-year low of $76.27 and a 1-year high of $121.77. The stock has a fifty day moving average of $90.98 and a two-hundred day moving average of $100.17. The firm has a market cap of $5.83 billion, a price-to-earnings ratio of 22.14, a price-to-earnings-growth ratio of 2.71 and a beta of 1.55.

Ryman Hospitality Properties (NYSE:RHP - Get Free Report) last issued its earnings results on Thursday, May 1st. The real estate investment trust reported $2.08 earnings per share for the quarter, topping 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 49.23% and a net margin of 11.61%. Ryman Hospitality Properties's revenue for the quarter was up 11.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.60 earnings per share. Research analysts anticipate that Ryman Hospitality Properties will post 8.81 earnings per share for the current fiscal year.

Ryman Hospitality Properties Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be paid a $1.15 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $4.60 annualized dividend and a yield of 4.73%. Ryman Hospitality Properties's dividend payout ratio is currently 97.46%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Ryman Hospitality Properties by 7.3% in the 1st quarter. Vanguard Group Inc. now owns 8,899,258 shares of the real estate investment trust's stock worth $813,748,000 after purchasing an additional 603,936 shares during the period. Principal Financial Group Inc. boosted its stake in Ryman Hospitality Properties by 6.4% in 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 period. JPMorgan Chase & Co. boosted 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 worth $150,220,000 after purchasing an additional 138,771 shares during the period. Charles Schwab Investment Management Inc. boosted its stake 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 purchasing an additional 11,872 shares during the period. Finally, Nuveen Asset Management LLC boosted its stake 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 purchasing an additional 5,807 shares during the period. Institutional investors 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.