Ryman Hospitality Properties (NYSE:RHP) Stock Price Up 5.3% After Strong Earnings

Ryman Hospitality Properties Inc (NYSE:RHP) rose 5.3% during trading on Tuesday after the company announced better than expected quarterly earnings. The company traded as high as $77.19 and last traded at $76.00, approximately 442,559 shares were traded during mid-day trading. An increase of 65% from the average daily volume of 268,616 shares. The stock had previously closed at $72.17.

The real estate investment trust reported $2.01 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.88 by $0.13. The business had revenue of $407.70 million during the quarter, compared to the consensus estimate of $399.41 million. Ryman Hospitality Properties had a net margin of 19.65% and a return on equity of 67.41%. The business’s revenue was up 22.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.80 EPS.

The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were issued a dividend of $0.90 per share. The ex-dividend date was Thursday, June 27th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 4.74%. Ryman Hospitality Properties’s dividend payout ratio is currently 61.43%.

RHP has been the subject of a number of recent analyst reports. ValuEngine downgraded shares of Ryman Hospitality Properties from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Zacks Investment Research upgraded shares of Ryman Hospitality Properties from a “hold” rating to a “buy” rating and set a $85.00 price target for the company in a report on Saturday, July 27th. Finally, JPMorgan Chase & Co. cut shares of Ryman Hospitality Properties from a “neutral” rating to an “underweight” rating and lowered their price objective for the stock from $80.00 to $77.00 in a research report on Tuesday, July 9th. Two analysts have rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $88.00.

In related news, EVP Scott J. Lynn sold 3,250 shares of the 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 3.30% of the company’s stock.

Several large investors have recently bought and sold shares of the stock. Norges Bank purchased a new position in Ryman Hospitality Properties in the 4th quarter valued at approximately $34,191,000. Duff & Phelps Investment Management Co. boosted its position in Ryman Hospitality Properties by 52.6% in the 2nd quarter. Duff & Phelps Investment Management Co. now owns 589,726 shares of the real estate investment trust’s stock valued at $47,821,000 after buying an additional 203,175 shares during the period. Pennsylvania Trust Co purchased a new position in Ryman Hospitality Properties in the 1st quarter valued at approximately $15,401,000. Lazard Asset Management LLC boosted its position in Ryman Hospitality Properties by 24.5% in the 1st quarter. Lazard Asset Management LLC now owns 369,988 shares of the real estate investment trust’s stock valued at $30,427,000 after buying an additional 72,707 shares during the period. Finally, Copeland Capital Management LLC boosted its position in Ryman Hospitality Properties by 21.4% in the 2nd quarter. Copeland Capital Management LLC now owns 361,438 shares of the real estate investment trust’s stock valued at $29,309,000 after buying an additional 63,714 shares during the period. 86.98% of the stock is owned by hedge funds and other institutional investors.

The company has a debt-to-equity ratio of 5.88, a quick ratio of 1.16 and a current ratio of 1.16. The firm has a market capitalization of $3.89 billion, a P/E ratio of 12.97, a PEG ratio of 1.98 and a beta of 1.16. The business’s 50-day moving average is $77.79.

Ryman Hospitality Properties Company Profile (NYSE:RHP)

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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