Ryman Hospitality Properties (NYSE:RHP) Hits New 52-Week High – Time to Buy?

Ryman Hospitality Properties, Inc. (NYSE:RHP)’s share price reached a new 52-week high on Thursday . The stock traded as high as $112.50 and last traded at $112.3510, with a volume of 340973 shares changing hands. The stock had previously closed at $110.99.

Wall Street Analyst Weigh In

RHP has been the topic of several research analyst reports. JPMorgan Chase & Co. increased their price target on shares of Ryman Hospitality Properties from $111.00 to $113.00 and gave the company an “overweight” rating in a report on Tuesday, May 5th. Evercore reissued an “outperform” rating and issued a $115.00 price target on shares of Ryman Hospitality Properties in a report on Friday, February 6th. Barclays lifted their target price on Ryman Hospitality Properties from $109.00 to $110.00 and gave the stock an “overweight” rating in a report on Tuesday, April 7th. Truist Financial lifted their target price on Ryman Hospitality Properties from $121.00 to $129.00 and gave the stock a “buy” rating in a report on Thursday, March 26th. Finally, Cantor Fitzgerald lifted their target price on Ryman Hospitality Properties from $115.00 to $124.00 and gave the stock an “overweight” rating in a report on Wednesday, May 13th. Nine equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $117.56.

Ryman Hospitality Properties Price Performance

The company’s fifty day moving average price is $99.33 and its 200 day moving average price is $97.16. The company has a market capitalization of $7.09 billion, a P/E ratio of 29.64, a PEG ratio of 2.52 and a beta of 1.22. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 5.15.

Ryman Hospitality Properties Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be issued a dividend of $1.20 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $4.80 annualized dividend and a dividend yield of 4.3%. Ryman Hospitality Properties’s dividend payout ratio (DPR) is currently 126.65%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of RHP. Royal Bank of Canada increased its position in shares of Ryman Hospitality Properties by 44.1% in the first quarter. Royal Bank of Canada now owns 39,740 shares of the real estate investment trust’s stock worth $3,634,000 after purchasing an additional 12,169 shares during the period. AQR Capital Management LLC increased its stake in Ryman Hospitality Properties by 131.0% in the first quarter. AQR Capital Management LLC now owns 13,418 shares of the real estate investment trust’s stock valued at $1,227,000 after acquiring an additional 7,610 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in Ryman Hospitality Properties by 8.8% in the first quarter. Goldman Sachs Group Inc. now owns 784,970 shares of the real estate investment trust’s stock valued at $71,778,000 after acquiring an additional 63,507 shares during the last quarter. Jane Street Group LLC increased its stake in Ryman Hospitality Properties by 306.5% in the first quarter. Jane Street Group LLC now owns 36,162 shares of the real estate investment trust’s stock valued at $3,307,000 after acquiring an additional 27,267 shares during the last quarter. Finally, Geneos Wealth Management Inc. increased its stake in Ryman Hospitality Properties by 240.2% in the first quarter. Geneos Wealth Management Inc. now owns 296 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 209 shares during the last quarter. Institutional investors own 94.48% of the company’s stock.

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.