Ryman Hospitality Properties (RHP) Downgraded to “Hold” at Zacks Investment Research

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Zacks Investment Research cut shares of Ryman Hospitality Properties (NYSE:RHP) from a buy rating to a hold rating in a report released 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. “

Other analysts have also recently issued research reports about the stock. ValuEngine cut shares of Ryman Hospitality Properties from a strong-buy rating to a buy rating in a research report on Saturday, June 2nd. Wells Fargo & Co restated a buy rating on shares of Ryman Hospitality Properties in a research report on Friday, June 1st. Citigroup upgraded shares of Ryman Hospitality Properties from a neutral rating to a buy rating and set a $86.00 price objective for the company in a research report on Friday, April 6th. Bank of America upped their price objective on shares of Ryman Hospitality Properties from $80.00 to $85.00 and gave the company a buy rating in a research report on Monday, February 26th. Finally, Deutsche Bank upped their price objective on shares of Ryman Hospitality Properties from $81.00 to $83.00 and gave the company a buy rating in a research report on Monday, February 26th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Ryman Hospitality Properties currently has a consensus rating of Buy and a consensus price target of $82.17.

RHP opened at $84.09 on Wednesday. The company has a debt-to-equity ratio of 4.58, a current ratio of 1.26 and a quick ratio of 1.26. Ryman Hospitality Properties has a 12 month low of $57.78 and a 12 month high of $85.77. The firm has a market capitalization of $4.24 billion, a P/E ratio of 15.02, a PEG ratio of 1.88 and a beta of 1.23.

Ryman Hospitality Properties (NYSE:RHP) last released its quarterly earnings data on Tuesday, May 1st. The real estate investment trust reported $0.53 EPS for the quarter, missing the Zacks’ consensus estimate of $1.19 by ($0.66). Ryman Hospitality Properties had a net margin of 14.27% and a return on equity of 48.28%. The firm had revenue of $288.40 million during the quarter, compared to the consensus estimate of $283.46 million. During the same quarter in the prior year, the company earned $1.22 EPS. Ryman Hospitality Properties’s quarterly revenue was up 4.5% on a year-over-year basis. sell-side analysts forecast that Ryman Hospitality Properties will post 5.9 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, July 16th. Shareholders of record on Friday, June 29th will be issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date is Thursday, June 28th. Ryman Hospitality Properties’s dividend payout ratio (DPR) is presently 61.15%.

In other Ryman Hospitality Properties news, SVP Scott J. Lynn sold 2,500 shares of the stock in a transaction dated Thursday, June 14th. The stock was sold at an average price of $83.34, for a total transaction of $208,350.00. Following the completion of the transaction, the senior vice president now owns 5,546 shares in the company, valued at approximately $462,203.64. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Jennifer L. Hutcheson sold 2,428 shares of the stock in a transaction dated Tuesday, June 19th. The stock was sold at an average price of $83.15, for a total value of $201,888.20. Following the transaction, the senior vice president now owns 7,763 shares of the company’s stock, valued at approximately $645,493.45. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,928 shares of company stock valued at $1,809,048. Corporate insiders own 3.20% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the business. Delpha Capital Management LLC bought a new position in Ryman Hospitality Properties during the 4th quarter worth about $119,000. Fort Washington Investment Advisors Inc. OH bought a new position in Ryman Hospitality Properties during the 1st quarter worth about $201,000. Zeke Capital Advisors LLC bought a new position in Ryman Hospitality Properties during the 1st quarter worth about $203,000. Signature Financial Management Inc. bought a new position in Ryman Hospitality Properties during the 1st quarter worth about $206,000. Finally, Commonwealth Equity Services LLC bought a new position in Ryman Hospitality Properties during the 1st quarter worth about $225,000. Hedge funds and other institutional investors own 86.53% of the company’s stock.

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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