Ryman Hospitality Properties (NYSE:RHP) Updates Q4 2023 Earnings Guidance

Ryman Hospitality Properties (NYSE:RHPGet Free Report) issued an update on its fourth quarter 2023 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 2.070-2.100 for the period, compared to the consensus earnings per share estimate of 1.880. The company issued revenue guidance of -. Ryman Hospitality Properties also updated its FY 2023 guidance to 8.060-8.100 EPS.

Analysts Set New Price Targets

A number of brokerages recently weighed in on RHP. Truist Financial raised their price target on shares of Ryman Hospitality Properties from $124.00 to $134.00 and gave the company a buy rating in a report on Friday, January 12th. StockNews.com upgraded shares of Ryman Hospitality Properties from a sell rating to a hold rating in a report on Tuesday. Wolfe Research initiated coverage on shares of Ryman Hospitality Properties in a report on Wednesday, September 27th. They set an outperform rating and a $98.00 target price for the company. JPMorgan Chase & Co. raised shares of Ryman Hospitality Properties from an underweight rating to a neutral rating and lifted their target price for the stock from $89.00 to $102.00 in a report on Thursday, December 14th. Finally, Wedbush initiated coverage on shares of Ryman Hospitality Properties in a report on Tuesday, October 3rd. They set an outperform rating and a $94.00 target price for the company. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $113.67.

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Ryman Hospitality Properties Stock Up 0.2 %

Shares of RHP opened at $113.10 on Thursday. Ryman Hospitality Properties has a 52 week low of $77.18 and a 52 week high of $114.17. The firm has a market cap of $6.75 billion, a P/E ratio of 29.45, a price-to-earnings-growth ratio of 1.39 and a beta of 1.60. The firm’s 50-day simple moving average is $104.72 and its 200 day simple moving average is $93.66. The company has a debt-to-equity ratio of 7.12, a quick ratio of 1.83 and a current ratio of 1.83.

Ryman Hospitality Properties Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th were given a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 3.89%. The ex-dividend date of this dividend was Thursday, December 28th. This is a positive change from Ryman Hospitality Properties’s previous quarterly dividend of $1.00. Ryman Hospitality Properties’s dividend payout ratio is presently 114.58%.

Insiders Place Their Bets

In other Ryman Hospitality Properties news, Chairman Colin V. Reed sold 15,000 shares of the stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $96.72, for a total transaction of $1,450,800.00. Following the transaction, the chairman now owns 764,614 shares in the company, valued at approximately $73,953,466.08. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Chairman Colin V. Reed sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $96.72, for a total transaction of $1,450,800.00. Following the completion of the sale, the chairman now owns 764,614 shares of the company’s stock, valued at approximately $73,953,466.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Patrick S. Chaffin sold 1,380 shares of the stock in a transaction that occurred on Tuesday, December 19th. The shares were sold at an average price of $109.63, for a total transaction of $151,289.40. Following the completion of the transaction, the chief operating officer now directly owns 33,807 shares of the company’s stock, valued at approximately $3,706,261.41. The disclosure for this sale can be found here. Insiders have sold a total of 31,380 shares of company stock worth $3,054,689 in the last quarter. Corporate insiders own 3.30% of the company’s stock.

Institutional Investors Weigh In On Ryman Hospitality Properties

Several large investors have recently modified their holdings of the company. BlackRock Inc. grew its holdings in Ryman Hospitality Properties by 8.5% in the first quarter. BlackRock Inc. now owns 5,908,332 shares of the real estate investment trust’s stock worth $530,155,000 after purchasing an additional 464,016 shares during the period. State Street Corp grew its position in Ryman Hospitality Properties by 4.6% in the 2nd quarter. State Street Corp now owns 2,765,963 shares of the real estate investment trust’s stock worth $259,714,000 after purchasing an additional 121,348 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Ryman Hospitality Properties by 16.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,071,299 shares of the real estate investment trust’s stock worth $192,155,000 after purchasing an additional 287,880 shares in the last quarter. JPMorgan Chase & Co. grew its position in Ryman Hospitality Properties by 0.3% in the 1st quarter. JPMorgan Chase & Co. now owns 1,578,645 shares of the real estate investment trust’s stock worth $141,652,000 after purchasing an additional 4,345 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in Ryman Hospitality Properties by 3.5% in the 1st quarter. Geode Capital Management LLC now owns 1,150,898 shares of the real estate investment trust’s stock worth $103,270,000 after purchasing an additional 38,722 shares in the last quarter. 91.23% of the stock is currently owned by institutional investors and hedge funds.

Ryman 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 entertainment experiences. The Company's holdings include Gaylord Opryland Resort & Convention Center; Gaylord Palms Resort & Convention Center; Gaylord Texan Resort & Convention Center; Gaylord National Resort & Convention Center; and Gaylord Rockies Resort & Convention Center, five of the top seven largest non-gaming convention center hotels in the United States based on total indoor meeting space.

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