Wells Fargo & Company Cuts Ryman Hospitality Properties (NYSE:RHP) Price Target to $115.00

Ryman Hospitality Properties (NYSE:RHP) had its price objective decreased by Wells Fargo & Company from $127.00 to $115.00 in a research note published on Friday morning, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the real estate investment trust’s stock.

A number of other analysts have also commented on RHP. StockNews.com raised Ryman Hospitality Properties from a sell rating to a hold rating in a research note on Friday, August 9th. Truist Financial decreased their price target on shares of Ryman Hospitality Properties from $135.00 to $130.00 and set a buy rating on the stock in a research note on Thursday, May 30th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Ryman Hospitality Properties from $104.00 to $105.00 and gave the stock a neutral rating in a report on Friday, August 2nd. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $116.14.

Ryman Hospitality Properties Price Performance

RHP stock opened at $101.49 on Friday. The stock’s 50 day moving average price is $101.06 and its 200 day moving average price is $105.33. The firm has a market cap of $6.08 billion, a P/E ratio of 21.01, a PEG ratio of 2.11 and a beta of 1.66. The company has a debt-to-equity ratio of 5.96, a quick ratio of 1.92 and a current ratio of 1.92. Ryman Hospitality Properties has a 1 year low of $79.86 and a 1 year high of $122.91.

Ryman Hospitality Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 4.34%. The ex-dividend date of this dividend is Monday, September 30th. Ryman Hospitality Properties’s dividend payout ratio is currently 91.10%.

Insider Buying and Selling

In related news, Chairman Colin V. Reed purchased 8,077 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was purchased at an average price of $97.78 per share, with a total value of $789,769.06. Following the completion of the transaction, the chairman now owns 827,220 shares of the company’s stock, valued at approximately $80,885,571.60. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On Ryman Hospitality Properties

A number of institutional investors have recently added to or reduced their stakes in the company. Parallel Advisors LLC lifted its stake in shares of Ryman Hospitality Properties by 6,550.0% in the 4th quarter. Parallel Advisors LLC now owns 266 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 262 shares in the last quarter. Fifth Third Bancorp raised its holdings in Ryman Hospitality Properties by 347.6% in the second quarter. Fifth Third Bancorp now owns 282 shares of the real estate investment trust’s stock valued at $28,000 after buying an additional 219 shares during the period. Larson Financial Group LLC acquired a new position in Ryman Hospitality Properties during the first quarter valued at approximately $35,000. SYSTM Wealth Solutions LLC acquired a new position in Ryman Hospitality Properties during the second quarter valued at approximately $32,000. Finally, Quest Partners LLC grew its stake in Ryman Hospitality Properties by 8,450.0% during the second quarter. Quest Partners LLC now owns 342 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 338 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.