Ryman Hospitality Properties (NYSE:RHP) Downgraded to Underweight at JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered shares of Ryman Hospitality Properties (NYSE:RHP) from a neutral rating to an underweight rating in a report released on Tuesday, BenzingaRatingsTable reports. The brokerage currently has $77.00 price target on the real estate investment trust’s stock, down from their prior price target of $80.00.

Ryman Hospitality Properties stock opened at $77.11 on Tuesday. The company has a debt-to-equity ratio of 5.88, a current ratio of 1.16 and a quick ratio of 1.16. Ryman Hospitality Properties has a 1-year low of $64.36 and a 1-year high of $90.02. The stock has a market cap of $3.97 billion, a price-to-earnings ratio of 13.16, a P/E/G ratio of 1.51 and a beta of 1.17. The stock has a 50-day moving average price of $80.24.

Ryman Hospitality Properties (NYSE:RHP) last posted its quarterly earnings data on Tuesday, May 7th. The real estate investment trust reported $0.57 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.42 by ($0.85). Ryman Hospitality Properties had a return on equity of 67.41% and a net margin of 19.65%. The firm had revenue of $370.80 million during the quarter, compared to analysts’ expectations of $363.63 million. During the same period last year, the company earned $1.18 earnings per share. The business’s revenue for the quarter was up 28.6% compared to the same quarter last year. On average, equities analysts predict that Ryman Hospitality Properties will post 6.71 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 4.67%. The ex-dividend date is Thursday, June 27th. Ryman Hospitality Properties’s dividend payout ratio (DPR) is presently 61.43%.

In other news, EVP Scott J. Lynn sold 3,250 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $83.05, for a total transaction of $269,912.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 3.30% of the company’s stock.

Large investors have recently modified their holdings of the company. Resources Investment Advisors Inc. purchased a new position in shares of Ryman Hospitality Properties during the fourth quarter worth approximately $25,000. Pinnacle Financial Partners Inc. purchased a new position in shares of Ryman Hospitality Properties during the first quarter worth approximately $75,000. FMR LLC increased its position in shares of Ryman Hospitality Properties by 24.5% during the first quarter. FMR LLC now owns 997 shares of the real estate investment trust’s stock worth $82,000 after acquiring an additional 196 shares during the period. Advisory Services Network LLC increased its position in shares of Ryman Hospitality Properties by 15.3% during the first quarter. Advisory Services Network LLC now owns 1,004 shares of the real estate investment trust’s stock worth $83,000 after acquiring an additional 133 shares during the period. Finally, Advisor Group Inc. increased its position in shares of Ryman Hospitality Properties by 18.8% during the fourth quarter. Advisor Group Inc. now owns 1,723 shares of the real estate investment trust’s stock worth $116,000 after acquiring an additional 273 shares during the period. 87.63% of the stock is currently owned by institutional investors and hedge funds.

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 8,114 rooms that are managed by lodging operator Marriott International, Inc under the Gaylord Hotels brand.

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Analyst Recommendations for Ryman Hospitality Properties (NYSE:RHP)

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