Ryman Hospitality Properties (NYSE:RHP) Share Price Passes Above 200 Day Moving Average – Here’s What Happened

Ryman Hospitality Properties, Inc. (NYSE:RHP) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $106.08 and traded as high as $106.35. Ryman Hospitality Properties shares last traded at $104.34, with a volume of 464,541 shares traded.

Analysts Set New Price Targets

RHP has been the subject of a number of recent analyst reports. Jefferies Financial Group started coverage on Ryman Hospitality Properties in a research report on Wednesday, November 6th. They issued a “buy” rating and a $130.00 price objective for the company. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $100.00 price target on shares of Ryman Hospitality Properties in a report on Friday, December 13th. Truist Financial lifted their price objective on shares of Ryman Hospitality Properties from $130.00 to $136.00 and gave the stock a “buy” rating in a research report on Monday, November 18th. Wells Fargo & Company increased their price objective on shares of Ryman Hospitality Properties from $124.00 to $130.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Finally, BMO Capital Markets started coverage on shares of Ryman Hospitality Properties in a report on Monday, December 9th. They set an “outperform” rating and a $133.00 target price for the company. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Ryman Hospitality Properties currently has an average rating of “Moderate Buy” and a consensus target price of $128.57.

Ryman Hospitality Properties Trading Down 1.6 %

The company has a debt-to-equity ratio of 6.07, a quick ratio of 1.73 and a current ratio of 1.73. The stock has a market capitalization of $6.25 billion, a price-to-earnings ratio of 18.53, a price-to-earnings-growth ratio of 2.95 and a beta of 1.65. The business has a fifty day simple moving average of $111.74 and a 200 day simple moving average of $106.08.

Ryman Hospitality Properties (NYSE:RHP) last released its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $0.94 EPS for the quarter, missing the consensus estimate of $1.83 by ($0.89). Ryman Hospitality Properties had a net margin of 14.84% and a return on equity of 61.94%. The business had revenue of $549.90 million during the quarter, compared to analyst estimates of $545.93 million. During the same quarter last year, the company posted $1.73 earnings per share. The company’s revenue was up 4.0% on a year-over-year basis. As a group, research analysts expect that Ryman Hospitality Properties, Inc. will post 8.44 EPS for the current year.

Ryman Hospitality Properties Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $1.15 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This is a boost from Ryman Hospitality Properties’s previous quarterly dividend of $1.10. This represents a $4.60 annualized dividend and a dividend yield of 4.41%. Ryman Hospitality Properties’s dividend payout ratio (DPR) is currently 81.71%.

Insider Activity

In other news, Director Fazal F. Merchant sold 1,269 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $113.98, for a total transaction of $144,640.62. Following the sale, the director now directly owns 4,825 shares of the company’s stock, valued at approximately $549,953.50. This represents a 20.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Principal Financial Group Inc. increased its holdings in Ryman Hospitality Properties by 41.9% in the 3rd quarter. Principal Financial Group Inc. now owns 3,153,360 shares of the real estate investment trust’s stock valued at $338,168,000 after buying an additional 931,283 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Ryman Hospitality Properties by 264.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,199,392 shares of the real estate investment trust’s stock valued at $119,771,000 after acquiring an additional 870,081 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Ryman Hospitality Properties by 483.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 609,761 shares of the real estate investment trust’s stock valued at $65,391,000 after purchasing an additional 505,207 shares in the last quarter. Victory Capital Management Inc. lifted its stake in Ryman Hospitality Properties by 3,800.4% during the third quarter. Victory Capital Management Inc. now owns 292,410 shares of the real estate investment trust’s stock worth $31,358,000 after purchasing an additional 284,913 shares during the last quarter. Finally, Reinhart Partners LLC. boosted its holdings in shares of Ryman Hospitality Properties by 55.5% in the 3rd quarter. Reinhart Partners LLC. now owns 383,026 shares of the real estate investment trust’s stock valued at $41,076,000 after purchasing an additional 136,756 shares in the last quarter. Institutional investors and hedge funds 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.