Ryman Hospitality Properties (NYSE:RHP) Upgraded by Morgan Stanley to “Overweight” Rating
by Kim Johansen · The Markets DailyMorgan Stanley upgraded shares of Ryman Hospitality Properties (NYSE:RHP – Free Report) from an equal weight rating to an overweight rating in a report published on Friday, MarketBeat reports. They currently have $105.00 price objective on the real estate investment trust’s stock, up from their prior price objective of $88.00.
Several other equities research analysts have also issued reports on RHP. Weiss Ratings reiterated a “hold (c)” rating on shares of Ryman Hospitality Properties in a report on Wednesday, January 28th. Wells Fargo & Company reduced their price target on Ryman Hospitality Properties from $109.00 to $105.00 and set an “overweight” rating for the company in a report on Tuesday, March 24th. Truist Financial lifted their price target on Ryman Hospitality Properties from $121.00 to $129.00 and gave the company a “buy” rating in a report on Thursday, March 26th. Barclays lifted their price target on Ryman Hospitality Properties from $109.00 to $110.00 and gave the company an “overweight” rating in a report on Tuesday. Finally, Cantor Fitzgerald boosted their target price on Ryman Hospitality Properties from $108.00 to $115.00 and gave the stock an “overweight” rating in a report on Tuesday, March 3rd. Ten equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $114.10.
Ryman Hospitality Properties Stock Up 2.7%
Shares of Ryman Hospitality Properties stock opened at $100.99 on Friday. The firm has a market cap of $6.37 billion, a price-to-earnings ratio of 26.86, a P/E/G ratio of 1.89 and a beta of 1.19. The company has a debt-to-equity ratio of 5.04, a current ratio of 1.46 and a quick ratio of 1.46. Ryman Hospitality Properties has a 52-week low of $81.36 and a 52-week high of $105.75. The stock has a 50-day simple moving average of $96.49 and a 200-day simple moving average of $94.20.
Ryman Hospitality Properties Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date is Tuesday, March 31st. Ryman Hospitality Properties’s payout ratio is presently 127.66%.
Institutional Trading of Ryman Hospitality Properties
A number of institutional investors and hedge funds have recently modified their holdings of RHP. Cornerstone Planning Group LLC lifted its stake in shares of Ryman Hospitality Properties by 2,241.7% in the third quarter. Cornerstone Planning Group LLC now owns 281 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 269 shares during the last quarter. Hantz Financial Services Inc. increased its position in Ryman Hospitality Properties by 283.1% in the 3rd quarter. Hantz Financial Services Inc. now owns 295 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 218 shares during the period. Caitong International Asset Management Co. Ltd increased its position in Ryman Hospitality Properties by 61.7% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 296 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 113 shares during the period. Global Retirement Partners LLC increased its position in Ryman Hospitality Properties by 155.0% in the 4th quarter. Global Retirement Partners LLC now owns 283 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 172 shares during the period. Finally, Geneos Wealth Management Inc. increased its position in Ryman Hospitality Properties by 240.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 296 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 209 shares during the period. 94.48% of the stock is currently owned by institutional investors and hedge funds.
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.