Ryman Hospitality Properties (NYSE:RHP) Given New $110.00 Price Target at Bank of America

Ryman Hospitality Properties (NYSE:RHP) had its target price hoisted by equities research analysts at Bank of America from $105.00 to $110.00 in a report issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the real estate investment trust’s stock. Bank of America‘s target price suggests a potential upside of 9.95% from the company’s current price.

Other analysts also recently issued research reports about the company. JPMorgan Chase & Co. assumed coverage on Ryman Hospitality Properties in a research note on Monday, June 23rd. They issued an “overweight” rating and a $117.00 price objective on the stock. Wells Fargo & Company boosted their target price on Ryman Hospitality Properties from $101.00 to $108.00 and gave the company an “overweight” rating in a research report on Tuesday, July 15th. Truist Financial cut their target price on Ryman Hospitality Properties from $127.00 to $120.00 and set a “buy” rating on the stock in a research report on Friday, May 30th. Jefferies Financial Group cut their target price on Ryman Hospitality Properties from $118.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, April 9th. Finally, Evercore ISI cut their target price on Ryman Hospitality Properties from $130.00 to $120.00 and set an “outperform” rating on the stock in a research report on Monday, April 28th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $114.75.

Ryman Hospitality Properties Price Performance

NYSE:RHP traded up $0.05 during trading hours on Monday, reaching $100.04. The stock had a trading volume of 83,030 shares, compared to its average volume of 671,670. The company has a debt-to-equity ratio of 5.92, a quick ratio of 1.55 and a current ratio of 1.55. Ryman Hospitality Properties has a 52 week low of $76.27 and a 52 week high of $121.77. The company has a 50 day moving average price of $99.15 and a two-hundred day moving average price of $97.20. The stock has a market capitalization of $6.00 billion, a PE ratio of 21.20, a PEG ratio of 2.70 and a beta of 1.57.

Ryman Hospitality Properties (NYSE:RHP) last released its quarterly earnings data on Thursday, May 1st. The real estate investment trust reported $2.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.79 by $0.29. Ryman Hospitality Properties had a return on equity of 51.95% and a net margin of 12.16%. The business had revenue of $587.28 million for the quarter, compared to the consensus estimate of $546.52 million. During the same quarter in the previous year, the company posted $1.60 EPS. The company’s revenue was up 11.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Ryman Hospitality Properties will post 8.81 earnings per share for the current fiscal year.

Insider Buying and Selling at Ryman Hospitality Properties

In other news, Chairman Colin V. Reed bought 8,356 shares of the stock in a transaction on Monday, June 9th. The stock was acquired at an average cost of $96.92 per share, for a total transaction of $809,863.52. Following the acquisition, the chairman owned 870,406 shares of the company’s stock, valued at $84,359,749.52. This represents a 0.97% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Alvin L. Bowles, Jr. sold 1,300 shares of the company’s stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $99.01, for a total value of $128,713.00. Following the completion of the sale, the director owned 2,576 shares of the company’s stock, valued at $255,049.76. This represents a 33.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 5.00% of the company’s stock.

Institutional Investors Weigh In On Ryman Hospitality Properties

Several hedge funds have recently made changes to their positions in RHP. Vanguard Group Inc. boosted its stake in shares of Ryman Hospitality Properties by 7.3% during the first quarter. Vanguard Group Inc. now owns 8,899,258 shares of the real estate investment trust’s stock valued at $813,748,000 after purchasing an additional 603,936 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Ryman Hospitality Properties by 6.4% during the first quarter. Principal Financial Group Inc. now owns 3,462,112 shares of the real estate investment trust’s stock valued at $316,576,000 after purchasing an additional 207,419 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Ryman Hospitality Properties by 10.7% during 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 last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Ryman Hospitality Properties by 1.2% during 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 last quarter. Finally, Nuveen Asset Management LLC lifted its stake in shares of Ryman Hospitality Properties by 0.6% during 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 last quarter. 94.48% of the stock is currently owned by hedge funds and other institutional investors.

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.