Ryman Hospitality Properties (NYSE:RHP) Reaches New 52-Week High at $98.65

Ryman Hospitality Properties, Inc. (NYSE:RHP) hit a new 52-week high on Wednesday . The company traded as high as $98.65 and last traded at $98.19, with a volume of 86994 shares trading hands. The stock had previously closed at $97.31.

Analysts Set New Price Targets

A number of brokerages have issued reports on RHP. StockNews.com began coverage on Ryman Hospitality Properties in a research report on Thursday, October 5th. They issued a “sell” rating on the stock. Wolfe Research began coverage on shares of Ryman Hospitality Properties in a report on Wednesday, September 27th. They set an “outperform” rating and a $98.00 price objective for the company. JPMorgan Chase & Co. cut their target price on shares of Ryman Hospitality Properties from $93.00 to $88.00 and set an “underweight” rating on the stock in a research note on Monday, August 7th. Wedbush assumed coverage on Ryman Hospitality Properties in a research note on Tuesday, October 3rd. They issued an “outperform” rating and a $94.00 price target for the company. Finally, Truist Financial boosted their price objective on Ryman Hospitality Properties from $119.00 to $123.00 and gave the company a “buy” rating in a report on Friday, September 15th. Two analysts have rated the stock with a sell rating and six have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $105.29.

Ryman Hospitality Properties Stock Down 1.5 %

The company has a debt-to-equity ratio of 7.12, a current ratio of 1.83 and a quick ratio of 1.83. The stock’s fifty day simple moving average is $86.32 and its 200-day simple moving average is $89.61. The stock has a market cap of $5.70 billion, a P/E ratio of 24.85, a PEG ratio of 2.15 and a beta of 1.54.

Ryman Hospitality Properties Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, October 16th. Investors of record on Friday, September 29th were issued a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 4.19%. The ex-dividend date was Thursday, September 28th. Ryman Hospitality Properties’s dividend payout ratio (DPR) is 104.17%.

Insider Activity at Ryman Hospitality Properties

In other Ryman Hospitality Properties news, Director Alvin L. Bowles, Jr. sold 1,384 shares of the stock in a transaction on Tuesday, September 19th. The stock was sold at an average price of $85.13, for a total value of $117,819.92. Following the sale, the director now directly owns 1,994 shares of the company’s stock, valued at $169,749.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Chairman Colin V. Reed sold 15,000 shares of the stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $96.72, for a total value of $1,450,800.00. Following the completion of the transaction, the chairman now directly owns 764,614 shares of the company’s stock, valued at approximately $73,953,466.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Alvin L. Bowles, Jr. sold 1,384 shares of the firm’s stock in a transaction that occurred on Tuesday, September 19th. The shares were sold at an average price of $85.13, for a total value of $117,819.92. Following the completion of the sale, the director now owns 1,994 shares in the company, valued at $169,749.22. The disclosure for this sale can be found here. Insiders own 3.30% of the company’s stock.

Institutional Investors Weigh In On Ryman Hospitality Properties

Institutional investors have recently bought and sold shares of the stock. Heitman Real Estate Securities LLC bought a new position in shares of Ryman Hospitality Properties in the second quarter valued at approximately $44,566,000. BlackRock Inc. lifted its stake in Ryman Hospitality Properties by 8.5% during the first quarter. BlackRock Inc. now owns 5,908,332 shares of the real estate investment trust’s stock valued at $530,155,000 after purchasing an additional 464,016 shares during the last quarter. Norges Bank bought a new stake in Ryman Hospitality Properties during the fourth quarter worth approximately $32,747,000. Millennium Management LLC boosted its stake in shares of Ryman Hospitality Properties by 105.1% during the 4th quarter. Millennium Management LLC now owns 749,853 shares of the real estate investment trust’s stock worth $61,323,000 after acquiring an additional 384,336 shares in the last quarter. Finally, State Street Corp increased its stake in Ryman Hospitality Properties by 14.6% in the 1st quarter. State Street Corp now owns 2,640,373 shares of the real estate investment trust’s stock worth $244,947,000 after purchasing an additional 336,493 shares in the last quarter. Institutional investors and hedge funds own 91.23% 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 ten largest non-gaming convention center hotels in the United States based on total indoor meeting space.