Ryman Hospitality Properties, Inc. (NYSE:RHP – Get Rating) announced a quarterly dividend on Monday, December 12th, Wall Street Journal reports. Shareholders of record on Friday, December 30th will be given a dividend of 0.25 per share by the real estate investment trust on Tuesday, January 17th. This represents a $1.00 annualized dividend and a yield of 1.11%. The ex-dividend date is Thursday, December 29th.
Ryman Hospitality Properties has a payout ratio of 27.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect Ryman Hospitality Properties to earn $6.97 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 14.3%.
Ryman Hospitality Properties Price Performance
NYSE:RHP traded up $1.38 during trading hours on Monday, hitting $90.27. 251,481 shares of the stock were exchanged, compared to its average volume of 370,632. Countryn Hospitality Properties has a 52-week low of $70.46 and a 52-week high of $101.19. The firm’s fifty day moving average price is $85.95 and its 200 day moving average price is $84.39. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 55.18. The company has a market cap of $4.98 billion, a P/E ratio of 77.97 and a beta of 1.57.
Institutional Inflows and Outflows
Large investors have recently added to or reduced their stakes in the company. Penserra Capital Management LLC lifted its stake in Ryman Hospitality Properties by 95.1% during the first quarter. Penserra Capital Management LLC now owns 5,453 shares of the real estate investment trust’s stock worth $505,000 after purchasing an additional 2,658 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Ryman Hospitality Properties by 7.4% in the first quarter. PNC Financial Services Group Inc. now owns 5,250 shares of the real estate investment trust’s stock valued at $486,000 after acquiring an additional 361 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of Ryman Hospitality Properties in the first quarter valued at $329,000. First Republic Investment Management Inc. raised its stake in shares of Ryman Hospitality Properties by 18.7% in the first quarter. First Republic Investment Management Inc. now owns 3,536 shares of the real estate investment trust’s stock valued at $328,000 after acquiring an additional 558 shares in the last quarter. Finally, Bridgewater Associates LP acquired a new stake in shares of Ryman Hospitality Properties in the first quarter valued at $289,000. 93.81% of the stock is currently owned by institutional investors and hedge funds.
Analyst’s Set New Price Targets
RHP has been the subject of several research reports. Raymond James boosted their price objective on Ryman Hospitality Properties from $95.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday. Truist Financial upgraded Ryman Hospitality Properties from a “hold” rating to a “buy” rating and upped their price target for the company from $95.00 to $103.00 in a research report on Wednesday, September 7th. Wells Fargo & Company dropped their price target on Ryman Hospitality Properties from $107.00 to $101.00 and set an “overweight” rating for the company in a research report on Monday, August 29th. StockNews.com initiated coverage on Ryman Hospitality Properties in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Finally, Citigroup upped their price target on Ryman Hospitality Properties to $110.00 in a research report on Monday, August 22nd. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Ryman Hospitality Properties presently has a consensus rating of “Moderate Buy” and a consensus target price of $107.00.
Countryn Hospitality Properties Company Profile
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Ryman Hospitality Properties, Inc (NYSE: RHP) is a leading lodging and hospitality real estate investment trust that specializes in upscale convention center resorts and country music entertainment experiences. The Company’s core holdings* include a network of five of the top 10 largest non-gaming convention center hotels in the United States based on total indoor meeting space.
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