Ryman Hospitality Properties (NYSE:RHP) Hits New 1-Year Low – Here’s What Happened

Ryman Hospitality Properties, Inc. (NYSE:RHP)’s stock price hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $91.67 and last traded at $91.77, with a volume of 35687 shares changing hands. The stock had previously closed at $93.45.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on RHP. BMO Capital Markets assumed coverage on shares of Ryman Hospitality Properties in a research note on Monday, December 9th. They set an “outperform” rating and a $133.00 price objective on the stock. StockNews.com raised shares of Ryman Hospitality Properties from a “sell” rating to a “hold” rating in a research note on Saturday, March 1st. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $100.00 price objective on shares of Ryman Hospitality Properties in a research report on Friday, December 13th. Wells Fargo & Company dropped their target price on Ryman Hospitality Properties from $130.00 to $122.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 18th. Finally, Truist Financial cut their price target on Ryman Hospitality Properties from $133.00 to $127.00 and set a “buy” rating on the stock in a research note on Friday, March 21st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Ryman Hospitality Properties presently has a consensus rating of “Moderate Buy” and a consensus target price of $124.67.

Ryman Hospitality Properties Stock Performance

The company has a market cap of $5.50 billion, a P/E ratio of 20.90, a PEG ratio of 2.71 and a beta of 1.65. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 6.07. The company has a 50 day moving average price of $100.02 and a 200-day moving average price of $106.13.

Ryman Hospitality Properties (NYSE:RHP) last issued its quarterly earnings results on Thursday, February 20th. The real estate investment trust reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.94. Ryman Hospitality Properties had a return on equity of 49.23% and a net margin of 11.61%. The firm had revenue of $647.63 million during the quarter, compared to analyst estimates of $656.01 million. Equities analysts expect that Ryman Hospitality Properties, Inc. will post 8.81 EPS for the current fiscal year.

Ryman Hospitality Properties Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 5.01%. The ex-dividend date of this dividend is Monday, March 31st. Ryman Hospitality Properties’s payout ratio is currently 104.78%.

Insiders Place Their Bets

In related news, Chairman Colin V. Reed bought 8,231 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The shares were acquired at an average cost of $97.54 per share, for a total transaction of $802,851.74. Following the acquisition, the chairman now directly owns 832,260 shares of the company’s stock, valued at $81,178,640.40. The trade was a 1.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Alvin L. Bowles, Jr. sold 473 shares of the company’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $97.03, for a total value of $45,895.19. Following the sale, the director now directly owns 2,675 shares of the company’s stock, valued at approximately $259,555.25. This represents a 15.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Ryman Hospitality Properties

A number of institutional investors have recently bought and sold shares of the stock. Quarry LP purchased a new stake in shares of Ryman Hospitality Properties in the third quarter valued at $28,000. Heck Capital Advisors LLC acquired a new position in Ryman Hospitality Properties during the fourth quarter valued at $31,000. Harvest Fund Management Co. Ltd purchased a new stake in shares of Ryman Hospitality Properties in the fourth quarter worth approximately $72,000. Venturi Wealth Management LLC purchased a new position in Ryman Hospitality Properties during the fourth quarter valued at approximately $83,000. Finally, Covestor Ltd increased its stake in Ryman Hospitality Properties by 33.3% in the 4th quarter. Covestor Ltd now owns 829 shares of the real estate investment trust’s stock valued at $87,000 after buying an additional 207 shares during the period. Hedge funds and other institutional investors own 94.48% of the company’s stock.

Ryman Hospitality Properties Company Profile

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.