Ryman Hospitality Properties (NYSE:RHP) Downgraded by StockNews.com

StockNews.com cut shares of Ryman Hospitality Properties (NYSE:RHP) from a hold rating to a sell rating in a research note released on Monday morning.

Several other brokerages have also commented on RHP. Raymond James increased their price objective on shares of Ryman Hospitality Properties from $115.00 to $135.00 and gave the company an outperform rating in a research report on Friday, February 2nd. Wells Fargo & Company raised their price target on shares of Ryman Hospitality Properties from $125.00 to $133.00 and gave the stock an overweight rating in a report on Thursday, March 21st. Finally, Truist Financial boosted their price objective on shares of Ryman Hospitality Properties from $134.00 to $135.00 and gave the company a buy rating in a report on Thursday, March 14th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $118.00.

Ryman Hospitality Properties Stock Down 2.2 %

Shares of RHP stock opened at $104.07 on Monday. The stock’s fifty day moving average price is $112.48 and its 200 day moving average price is $108.06. Ryman Hospitality Properties has a 1-year low of $79.86 and a 1-year high of $122.91. The company has a market cap of $6.23 billion, a price-to-earnings ratio of 21.55, a price-to-earnings-growth ratio of 0.78 and a beta of 1.59. The company has a debt-to-equity ratio of 5.90, a current ratio of 1.97 and a quick ratio of 1.97.

Ryman Hospitality Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were paid a $1.10 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 4.23%. Ryman Hospitality Properties’s payout ratio is currently 91.10%.

Insider Buying and Selling

In other Ryman Hospitality Properties news, Chairman Colin V. Reed purchased 13,800 shares of the stock in a transaction on Tuesday, May 7th. The shares were bought at an average cost of $106.40 per share, with a total value of $1,468,320.00. Following the completion of the acquisition, the chairman now owns 819,143 shares in the company, valued at $87,156,815.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, COO Patrick S. Chaffin sold 16,189 shares of Ryman Hospitality Properties stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $119.74, for a total transaction of $1,938,470.86. Following the completion of the transaction, the chief operating officer now directly owns 17,618 shares of the company’s stock, valued at approximately $2,109,579.32. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Colin V. Reed bought 13,800 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The stock was purchased at an average price of $106.40 per share, with a total value of $1,468,320.00. Following the completion of the purchase, the chairman now owns 819,143 shares in the company, valued at $87,156,815.20. The disclosure for this purchase can be found here. 3.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Ryman Hospitality Properties by 2.7% during the 3rd quarter. Vanguard Group Inc. now owns 8,307,026 shares of the real estate investment trust’s stock valued at $691,809,000 after acquiring an additional 216,137 shares during the period. FMR LLC boosted its position in Ryman Hospitality Properties by 2.9% during the third quarter. FMR LLC now owns 4,097,388 shares of the real estate investment trust’s stock worth $341,230,000 after purchasing an additional 114,451 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Ryman Hospitality Properties by 5.7% in the third quarter. JPMorgan Chase & Co. now owns 1,713,128 shares of the real estate investment trust’s stock valued at $142,669,000 after purchasing an additional 93,082 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Ryman Hospitality Properties by 6.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,021,858 shares of the real estate investment trust’s stock valued at $85,100,000 after buying an additional 62,322 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Ryman Hospitality Properties by 1.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 793,244 shares of the real estate investment trust’s stock worth $87,305,000 after buying an additional 11,490 shares during the period. Hedge funds and other institutional investors own 94.48% 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 seven largest non-gaming convention center hotels in the United States based on total indoor meeting space.