Wells Fargo & Company Issues Positive Forecast for Ryman Hospitality Properties (NYSE:RHP) Stock Price

Key Points

• Wells Fargo & Company raised its price target on Ryman Hospitality (NYSE:RHP) from $105 to $114 and kept an "overweight" rating, implying roughly a 12.33% upside from the current price.
• Analyst sentiment is broadly positive — 10 Buy and 1 Hold ratings and a consensus target of $115 after recent upgrades from firms including JPMorgan, Truist and Morgan Stanley.
• RHP recently traded at $101.49 (down 0.7%), with a market cap of about $6.4B, a P/E of ~27 and high institutional ownership (~94.5%).

Ryman Hospitality Properties (NYSE:RHP - Get Free Report) had its target price upped by investment analysts at Wells Fargo & Company from $105.00 to $114.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has an "overweight" rating on the real estate investment trust's stock. Wells Fargo & Company's price target would suggest a potential upside of 12.33% from the company's current price.

A number of other equities analysts also recently commented on the stock. JPMorgan Chase & Co. boosted their target price on shares of Ryman Hospitality Properties from $110.00 to $111.00 and gave the stock an "overweight" rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $131.00 price objective on shares of Ryman Hospitality Properties in a research note on Tuesday, January 13th. Truist Financial upped their price objective on shares of Ryman Hospitality Properties from $121.00 to $129.00 and gave the company a "buy" rating in a research note on Thursday, March 26th. Morgan Stanley upgraded shares of Ryman Hospitality Properties from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $88.00 to $105.00 in a research note on Friday, April 10th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Ryman Hospitality Properties in a research note on Wednesday, January 28th. Ten investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $115.00.

Ryman Hospitality Properties Stock Down 0.7%

Shares of RHP stock traded down $0.67 on Wednesday, reaching $101.49. 67,074 shares of the stock were exchanged, compared to its average volume of 497,943. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 5.04. The business's 50 day moving average price is $97.20 and its 200 day moving average price is $94.75. The company has a market capitalization of $6.40 billion, a price-to-earnings ratio of 26.99, a PEG ratio of 1.99 and a beta of 1.19. Ryman Hospitality Properties has a twelve month low of $83.82 and a twelve month high of $105.75.

Institutional Investors Weigh In On Ryman Hospitality Properties

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in Ryman Hospitality Properties by 1.9% during the third quarter. Vanguard Group Inc. now owns 9,108,548 shares of the real estate investment trust's stock worth $816,035,000 after purchasing an additional 166,293 shares in the last quarter. State Street Corp raised its holdings in Ryman Hospitality Properties by 0.6% during the second quarter. State Street Corp now owns 3,375,908 shares of the real estate investment trust's stock worth $336,901,000 after purchasing an additional 20,756 shares in the last quarter. Geode Capital Management LLC raised its holdings in Ryman Hospitality Properties by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 1,588,492 shares of the real estate investment trust's stock worth $150,327,000 after purchasing an additional 11,591 shares in the last quarter. Cooke & Bieler LP raised its holdings in Ryman Hospitality Properties by 12.8% during the fourth quarter. Cooke & Bieler LP now owns 1,251,144 shares of the real estate investment trust's stock worth $118,383,000 after purchasing an additional 142,206 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Ryman Hospitality Properties by 2.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,156,004 shares of the real estate investment trust's stock worth $109,381,000 after purchasing an additional 33,120 shares in the last quarter. Institutional investors and hedge funds 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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