Truist Financial Forecasts Strong Price Appreciation for Ryman Hospitality Properties (NYSE:RHP) Stock

Ryman Hospitality Properties (NYSE:RHP) had its target price hoisted by Truist Financial from $130.00 to $136.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the real estate investment trust’s stock. Truist Financial’s target price suggests a potential upside of 21.78% from the company’s previous close.

Other equities analysts have also recently issued research reports about the stock. Jefferies Financial Group assumed coverage on shares of Ryman Hospitality Properties in a research note on Wednesday, November 6th. They set a “buy” rating and a $130.00 price objective for the company. Wells Fargo & Company dropped their price objective on Ryman Hospitality Properties from $127.00 to $115.00 and set an “overweight” rating for the company in a research note on Friday, September 13th. JPMorgan Chase & Co. upped their target price on Ryman Hospitality Properties from $104.00 to $105.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Finally, StockNews.com raised Ryman Hospitality Properties from a “sell” rating to a “hold” rating in a report on Friday, August 9th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Ryman Hospitality Properties has an average rating of “Moderate Buy” and a consensus price target of $126.17.

Ryman Hospitality Properties Stock Up 0.4 %

RHP opened at $111.68 on Monday. Ryman Hospitality Properties has a 12 month low of $93.76 and a 12 month high of $122.91. The company has a market cap of $6.69 billion, a PE ratio of 19.84, a price-to-earnings-growth ratio of 1.96 and a beta of 1.65. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 6.07. The company has a 50 day moving average of $108.88 and a 200 day moving average of $104.19.

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

Insider Transactions at Ryman Hospitality Properties

In other Ryman Hospitality Properties news, Director Fazal F. Merchant sold 1,269 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 4,825 shares of the company’s stock, valued at $549,953.50. This represents a 20.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Alvin L. Bowles, Jr. sold 900 shares of the stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $107.32, for a total value of $96,588.00. Following the completion of the sale, the director now owns 3,148 shares of the company’s stock, valued at approximately $337,843.36. This trade represents a 22.23 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 3.00% of the company’s stock.

Institutional Trading of Ryman Hospitality Properties

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RHP. Vanguard Group Inc. raised its holdings in Ryman Hospitality Properties by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 8,470,274 shares of the real estate investment trust’s stock worth $979,248,000 after purchasing an additional 226,547 shares in the last quarter. Principal Financial Group Inc. raised its stake in Ryman Hospitality Properties by 41.9% in the third quarter. Principal Financial Group Inc. now owns 3,153,360 shares of the real estate investment trust’s stock worth $338,168,000 after buying an additional 931,283 shares in the last quarter. American Century Companies Inc. raised its stake in Ryman Hospitality Properties by 0.8% in the second quarter. American Century Companies Inc. now owns 1,586,256 shares of the real estate investment trust’s stock worth $158,404,000 after buying an additional 12,058 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Ryman Hospitality Properties by 0.9% in the third quarter. Geode Capital Management LLC now owns 1,458,389 shares of the real estate investment trust’s stock worth $156,427,000 after buying an additional 12,323 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its position in Ryman Hospitality Properties by 264.2% during the 2nd 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 in the last quarter. Hedge funds and other institutional investors 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.