Ryman Hospitality Properties, Inc. (NYSE:RHP) Upgraded to Buy by Zacks Investment Research

Ryman Hospitality Properties, Inc. (NYSE:RHP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday, October 17th. The firm currently has a $73.00 price objective on the real estate investment trust’s stock. Zacks Investment Research‘s price target points to a potential upside of 11.35% from the company’s current price.

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. “

A number of other equities analysts have also recently weighed in on the stock. UBS AG cut shares of Ryman Hospitality Properties from an “outperform” rating to a “market perform” rating in a research report on Friday, July 14th. BidaskClub cut shares of Ryman Hospitality Properties from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. Raymond James Financial, Inc. reaffirmed a “market perform” rating on shares of Ryman Hospitality Properties in a research report on Friday, July 14th. Finally, Deutsche Bank AG reaffirmed a “buy” rating and set a $70.00 price objective (down previously from $71.00) on shares of Ryman Hospitality Properties in a research report on Thursday, August 10th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. Ryman Hospitality Properties has a consensus rating of “Hold” and an average target price of $64.60.

Shares of Ryman Hospitality Properties (NYSE RHP) traded up 1.1066% during midday trading on Tuesday, hitting $66.2855. The stock had a trading volume of 38,685 shares. Ryman Hospitality Properties has a 52-week low of $48.35 and a 52-week high of $67.97. The stock has a market cap of $3.36 billion, a PE ratio of 20.9764 and a beta of 1.17. The firm has a 50 day moving average price of $62.47 and a 200-day moving average price of $62.68.

Ryman Hospitality Properties (NYSE:RHP) last announced its quarterly earnings results on Tuesday, August 8th. The real estate investment trust reported $1.55 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.52 by $0.03. The business had revenue of $298.80 million during the quarter, compared to the consensus estimate of $296.01 million. Ryman Hospitality Properties had a net margin of 13.86% and a return on equity of 46.19%. The business’s revenue was up .9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.59 EPS. Equities analysts predict that Ryman Hospitality Properties will post $3.02 EPS for the current fiscal year.

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In other Ryman Hospitality Properties news, CEO Colin V. Reed sold 19,280 shares of the firm’s stock in a transaction that occurred on Tuesday, October 10th. The shares were sold at an average price of $63.30, for a total value of $1,220,424.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.40% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. IHT Wealth Management LLC purchased a new stake in shares of Ryman Hospitality Properties during the 2nd quarter worth $239,000. Advisor Group Inc. lifted its position in shares of Ryman Hospitality Properties by 59.0% during the 2nd quarter. Advisor Group Inc. now owns 1,740 shares of the real estate investment trust’s stock worth $110,000 after purchasing an additional 646 shares during the last quarter. Profund Advisors LLC lifted its position in shares of Ryman Hospitality Properties by 5.2% during the 2nd quarter. Profund Advisors LLC now owns 3,622 shares of the real estate investment trust’s stock worth $232,000 after purchasing an additional 178 shares during the last quarter. Teacher Retirement System of Texas lifted its position in shares of Ryman Hospitality Properties by 2.4% during the 1st quarter. Teacher Retirement System of Texas now owns 3,731 shares of the real estate investment trust’s stock worth $231,000 after purchasing an additional 89 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Ryman Hospitality Properties by 4.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,774 shares of the real estate investment trust’s stock worth $242,000 after purchasing an additional 164 shares during the last quarter. 86.71% of the stock is owned by institutional investors.

About Ryman Hospitality Properties

Ryman Hospitality Properties, Inc owns and operates hotels in the United States. Its Hospitality segment operates a network of meetings-focused resorts, including the Gaylord Opryland Resort and Convention Center in Nashville, Tennessee; the Gaylord Opryland Resort and Convention Center in Kissimmee, Florida; the Gaylord Texan Resort and Convention Center in Grapevine, Texas; and the Gaylord National Resort and Convention Center in Prince George’s County, Maryland.

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