Ryman Hospitality Properties (NYSE:RHP) Shares Gap Up – Here’s What Happened

Ryman Hospitality Properties, Inc. (NYSE:RHP) shares gapped up before the market opened on Monday . The stock had previously closed at $98.82, but opened at $101.64. Ryman Hospitality Properties shares last traded at $99.76, with a volume of 306,375 shares changing hands.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on RHP. StockNews.com raised shares of Ryman Hospitality Properties from a “sell” rating to a “hold” rating in a research note on Saturday, March 1st. BMO Capital Markets started coverage on shares of Ryman Hospitality Properties in a research report on Monday, December 9th. They set an “outperform” rating and a $133.00 price objective on the stock. Wells Fargo & Company lowered their price target 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. Truist Financial reiterated a “buy” rating and issued a $133.00 price objective (down from $136.00) on shares of Ryman Hospitality Properties in a report on Tuesday, February 25th. Finally, JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $100.00 target price on shares of Ryman Hospitality Properties in a research note on Friday, December 13th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Ryman Hospitality Properties currently has an average rating of “Moderate Buy” and an average target price of $125.67.

Ryman Hospitality Properties Price Performance

The firm’s 50 day moving average is $102.33 and its 200 day moving average is $106.81. The company has a debt-to-equity ratio of 6.07, a current ratio of 1.73 and a quick ratio of 1.73. The firm has a market cap of $6.10 billion, a P/E ratio of 23.14, a price-to-earnings-growth ratio of 2.71 and a beta of 1.65.

Ryman Hospitality Properties (NYSE:RHP) last issued its earnings results on Thursday, February 20th. The real estate investment trust reported $2.15 earnings per share for the quarter, topping 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 business had revenue of $647.63 million during the quarter, compared to analyst estimates of $656.01 million. As a group, analysts anticipate that Ryman Hospitality Properties, Inc. will post 8.81 earnings per share for the current year.

Ryman Hospitality Properties Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a $1.15 dividend. The ex-dividend date is Monday, March 31st. This represents a $4.60 annualized dividend and a yield of 4.51%. Ryman Hospitality Properties’s payout ratio is 104.78%.

Insider Transactions at Ryman Hospitality Properties

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

Hedge Funds Weigh In On Ryman Hospitality Properties

Several institutional investors have recently made changes to their positions in the company. Quarry LP purchased a new position in Ryman Hospitality Properties during the third quarter valued at approximately $28,000. Heck Capital Advisors LLC acquired a new position in shares of Ryman Hospitality Properties during the fourth quarter valued at about $31,000. Avior Wealth Management LLC boosted its stake in Ryman Hospitality Properties by 44.9% in the 3rd quarter. Avior Wealth Management LLC now owns 442 shares of the real estate investment trust’s stock worth $47,000 after purchasing an additional 137 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in shares of Ryman Hospitality Properties by 79.9% during the third quarter. Farther Finance Advisors LLC now owns 491 shares of the real estate investment trust’s stock worth $53,000 after buying an additional 218 shares during the period. Finally, Harvest Fund Management Co. Ltd acquired a new stake in Ryman Hospitality Properties during the 4th quarter worth about $72,000. 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.