Wells Fargo & Company Raises Ryman Hospitality Properties (NYSE:RHP) Price Target to $105.00

Ryman Hospitality Properties (NYSE:RHP) had its price objective upped by Wells Fargo & Company from $104.00 to $105.00 in a report issued on Monday morning, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the real estate investment trust’s stock.

RHP has been the subject of a number of other reports. Wedbush started coverage on Ryman Hospitality Properties in a research note on Tuesday, October 3rd. They issued an outperform rating and a $94.00 target price for the company. StockNews.com started coverage on Ryman Hospitality Properties in a research note on Thursday, October 5th. They issued a sell rating for the company. Deutsche Bank Aktiengesellschaft lifted their target price on Ryman Hospitality Properties from $128.00 to $129.00 and gave the company a buy rating in a research note on Monday, August 7th. JPMorgan Chase & Co. decreased their target price on Ryman Hospitality Properties from $93.00 to $88.00 and set an underweight rating for the company in a research note on Monday, August 7th. Finally, Truist Financial lifted their target price on Ryman Hospitality Properties from $119.00 to $123.00 and gave the company a buy rating in a research note on Friday, September 15th. Two research analysts have rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $105.29.

Ryman Hospitality Properties Stock Down 1.5 %

NYSE:RHP opened at $95.44 on Monday. The company has a debt-to-equity ratio of 7.12, a quick ratio of 1.83 and a current ratio of 1.83. The stock has a 50-day simple moving average of $86.32 and a 200 day simple moving average of $89.61. Ryman Hospitality Properties has a one year low of $77.18 and a one year high of $98.65. The company has a market capitalization of $5.70 billion, a price-to-earnings ratio of 24.85, a price-to-earnings-growth ratio of 2.07 and a beta of 1.54.

Ryman Hospitality Properties Dividend Announcement

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

Insider Activity

In related news, Chairman Colin V. Reed sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $96.72, for a total transaction of $1,450,800.00. Following the sale, the chairman now owns 764,614 shares of the company’s stock, valued at $73,953,466.08. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Chairman Colin V. Reed sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $96.72, for a total transaction of $1,450,800.00. Following the sale, the chairman now owns 764,614 shares of the company’s stock, valued at $73,953,466.08. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Alvin L. Bowles, Jr. sold 1,384 shares of the business’s stock in a transaction that occurred 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 in the company, valued at approximately $169,749.22. The disclosure for this sale can be found here. Corporate insiders own 3.30% of the company’s stock.

Institutional Investors Weigh In On Ryman Hospitality Properties

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. KB Financial Partners LLC bought a new stake in Ryman Hospitality Properties during the first quarter worth approximately $25,000. Lazard Asset Management LLC grew its position in Ryman Hospitality Properties by 667.4% in the first quarter. Lazard Asset Management LLC now owns 330 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 287 shares during the last quarter. Quarry LP grew its position in Ryman Hospitality Properties by 110.8% in the first quarter. Quarry LP now owns 430 shares of the real estate investment trust’s stock worth $39,000 after buying an additional 226 shares during the last quarter. Rockefeller Capital Management L.P. grew its position in Ryman Hospitality Properties by 118.1% in the fourth quarter. Rockefeller Capital Management L.P. now owns 517 shares of the real estate investment trust’s stock worth $42,000 after buying an additional 280 shares during the last quarter. Finally, BOKF NA acquired a new position in Ryman Hospitality Properties in the first quarter worth approximately $64,000. Institutional investors 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.