Ryman Hospitality Properties (NYSE:RHP) Hits New 1-Year High – Here’s Why

Shares of Ryman Hospitality Properties, Inc. (NYSE:RHP) hit a new 52-week high on Thursday . The company traded as high as $137.46 and last traded at $135.5180, with a volume of 510183 shares changing hands. The stock had previously closed at $135.99.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on RHP shares. Barclays boosted their target price on Ryman Hospitality Properties from $120.00 to $130.00 and gave the stock an “overweight” rating in a report on Tuesday, July 21st. JPMorgan Chase & Co. lifted their price target on shares of Ryman Hospitality Properties from $113.00 to $129.00 and gave the company an “overweight” rating in a research report on Tuesday, July 21st. Cantor Fitzgerald lifted their price target on shares of Ryman Hospitality Properties from $115.00 to $124.00 and gave the company an “overweight” rating in a research report on Wednesday, May 13th. Truist Financial boosted their price objective on shares of Ryman Hospitality Properties from $129.00 to $132.00 and gave the stock a “buy” rating in a research note on Tuesday, May 26th. Finally, Morgan Stanley upped their price objective on shares of Ryman Hospitality Properties from $105.00 to $112.00 and gave the stock an “overweight” rating in a report on Tuesday, May 12th. Ten analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $127.10.

Ryman Hospitality Properties Price Performance

The firm has a market cap of $8.55 billion, a P/E ratio of 35.76, a price-to-earnings-growth ratio of 2.44 and a beta of 1.20. The stock’s 50-day moving average is $123.92 and its 200-day moving average is $107.54. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 5.15.

Ryman Hospitality Properties Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 3.5%. The ex-dividend date was Tuesday, June 30th. Ryman Hospitality Properties’s dividend payout ratio (DPR) is currently 126.65%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Norges Bank bought a new stake in shares of Ryman Hospitality Properties in the fourth quarter valued at about $48,036,000. Invesco Ltd. grew its position 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 buying an additional 479,990 shares in the last quarter. Balyasny Asset Management L.P. bought a new position in Ryman Hospitality Properties during the third quarter valued at about $30,975,000. Qube Research & Technologies Ltd acquired a new position in Ryman Hospitality Properties in the 3rd quarter valued at approximately $18,161,000. Finally, UBS Group AG raised its holdings in Ryman Hospitality Properties by 116.3% in the 3rd quarter. UBS Group AG now owns 371,163 shares of the real estate investment trust’s stock valued at $33,252,000 after acquiring an additional 199,556 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.