Shares of Ryman Hospitality Properties (NYSE:RHP) reached a new 52-week high and low on Tuesday after an insider bought additional shares in the company. The stock traded as low as $79.77 and last traded at $79.04, with a volume of 84805 shares trading hands. The stock had previously closed at $79.02.
Specifically, CEO Colin V. Reed purchased 5,995 shares of the stock in a transaction on Wednesday, January 17th. The shares were purchased at an average price of $75.81 per share, with a total value of $454,480.95. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 3.20% of the company’s stock.
Several equities research analysts have issued reports on RHP shares. Wells Fargo raised shares of Ryman Hospitality Properties from a “market perform” rating to an “outperform” rating and set a $76.00 price target on the stock in a report on Tuesday, December 19th. ValuEngine raised shares of Ryman Hospitality Properties from a “buy” rating to a “strong-buy” rating in a report on Sunday, December 31st. Bank of America raised shares of Ryman Hospitality Properties from an “underperform” rating to a “buy” rating in a report on Monday, January 8th. Zacks Investment Research lowered shares of Ryman Hospitality Properties from a “hold” rating to a “sell” rating in a report on Wednesday, January 10th. Finally, Deutsche Bank upped their target price on shares of Ryman Hospitality Properties from $77.00 to $81.00 and gave the stock a “buy” rating in a report on Friday, February 9th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $78.83.
Ryman Hospitality Properties (NYSE:RHP) last posted its earnings results on Friday, February 23rd. The real estate investment trust reported $1.69 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.62 by $0.07. Ryman Hospitality Properties had a net margin of 14.86% and a return on equity of 49.82%. The business had revenue of $345.18 million for the quarter, compared to analyst estimates of $335.37 million. During the same quarter in the prior year, the firm earned $1.51 EPS. The firm’s quarterly revenue was up 7.9% compared to the same quarter last year. equities research analysts forecast that Ryman Hospitality Properties will post 5.9 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, April 16th. Shareholders of record on Friday, March 30th were issued a dividend of $0.85 per share. The ex-dividend date was Wednesday, March 28th. This represents a $3.40 dividend on an annualized basis and a yield of 4.27%. This is a positive change from Ryman Hospitality Properties’s previous quarterly dividend of $0.80. Ryman Hospitality Properties’s dividend payout ratio is currently 61.15%.
Large investors have recently modified their holdings of the business. Delpha Capital Management LLC bought a new stake in Ryman Hospitality Properties during the 4th quarter worth about $119,000. Suntrust Banks Inc. bought a new stake in Ryman Hospitality Properties during the 4th quarter worth about $205,000. FCA Corp TX bought a new stake in Ryman Hospitality Properties during the 4th quarter worth about $209,000. JOYN Advisors Inc. bought a new stake in Ryman Hospitality Properties during the 4th quarter worth about $225,000. Finally, Parametrica Management Ltd bought a new stake in Ryman Hospitality Properties during the 4th quarter worth about $284,000. 87.07% of the stock is currently owned by hedge funds and other institutional investors.
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About Ryman Hospitality Properties
Ryman Hospitality Properties, Inc (NYSE:RHP) is a REIT for federal income tax purposes, specializing in group-oriented, destination hotel assets in urban and resort markets. The Company's owned assets include a network of four upscale, meetings-focused resorts totaling 7,811 rooms that are managed by lodging operator Marriott International, Inc under the Gaylord Hotels brand.
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