Ryman Hospitality Properties Inc. (NYSE:RHP) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday.
According to Zacks, “Ryman Hospitality Properties, Inc. is a Real Estate Investment Trust specializing in group-oriented, destination hotel assets in urban and resort markets. The Company also operates a number of media and entertainment assets that includes the Grand Ole Opry, the Ryman Auditorium and WSM-AM. Ryman Hospitality Properties, Inc. is headquartered in Nashville, Tennessee. “
Several other research firms have also recently commented on RHP. SunTrust Banks Inc. reaffirmed a “neutral” rating on shares of Ryman Hospitality Properties in a report on Sunday, July 24th. Deutsche Bank AG set a $61.00 target price on Ryman Hospitality Properties and gave the stock a “buy” rating in a report on Wednesday, August 3rd. Citigroup Inc. increased their target price on Ryman Hospitality Properties from $49.00 to $56.00 and gave the stock a “neutral” rating in a report on Wednesday, August 17th. Finally, Bank of America Corp. reissued a “hold” rating on shares of Ryman Hospitality Properties in a report on Monday, July 18th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $47.14.
Ryman Hospitality Properties (NYSE:RHP) opened at 47.97 on Wednesday. The firm has a market cap of $2.42 billion, a price-to-earnings ratio of 17.26 and a beta of 0.99. The firm’s 50-day moving average price is $51.32 and its 200-day moving average price is $51.77. Ryman Hospitality Properties has a 12 month low of $41.50 and a 12 month high of $61.02.
Ryman Hospitality Properties (NYSE:RHP) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $1.59 EPS for the quarter, beating the consensus estimate of $0.95 by $0.64. The firm earned $293.20 million during the quarter, compared to analysts’ expectations of $291.26 million. Ryman Hospitality Properties had a return on equity of 39.46% and a net margin of 12.76%. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.45 EPS. Equities research analysts predict that Ryman Hospitality Properties will post $2.92 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $3.00 dividend on an annualized basis and a yield of 6.25%. Ryman Hospitality Properties’s dividend payout ratio (DPR) is presently 107.91%.
In other Ryman Hospitality Properties news, CEO Colin V. Reed purchased 7,377 shares of the firm’s stock in a transaction that occurred on Friday, July 15th. The shares were acquired at an average cost of $53.44 per share, for a total transaction of $394,226.88. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Bennett D. Westbrook sold 6,483 shares of the stock in a transaction on Friday, August 5th. The shares were sold at an average price of $55.34, for a total value of $358,769.22. Following the completion of the transaction, the executive vice president now owns 27,365 shares in the company, valued at $1,514,379.10. The disclosure for this sale can be found here. Corporate insiders own 4.00% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA raised its position in shares of Ryman Hospitality Properties by 6,633.3% in the second quarter. BNP Paribas Arbitrage SA now owns 2,222 shares of the company’s stock worth $113,000 after buying an additional 2,189 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Ryman Hospitality Properties by 7.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,383 shares of the company’s stock worth $121,000 after buying an additional 164 shares during the last quarter. Paradigm Asset Management Co. LLC raised its position in shares of Ryman Hospitality Properties by 4.3% in the second quarter. Paradigm Asset Management Co. LLC now owns 2,400 shares of the company’s stock worth $122,000 after buying an additional 100 shares during the last quarter. New York State Teachers Retirement System purchased a new position in shares of Ryman Hospitality Properties during the second quarter worth approximately $127,000. Finally, Acrospire Investment Management LLC raised its position in shares of Ryman Hospitality Properties by 157.2% in the second quarter. Acrospire Investment Management LLC now owns 2,618 shares of the company’s stock worth $133,000 after buying an additional 1,600 shares during the last quarter. Hedge funds and other institutional investors own 89.02% of the company’s stock.
Ryman Hospitality Properties Inc is a finance company in the Specialized REITs industry.
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