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One REIT player that insiders are in love with here is
Ryman Hospitality Properties (
RHP), which operates as a real estate investment trust specializing in group-oriented, destination hotel assets in urban and resort markets. Insiders are buying this stock into notable weakness, since shares are off by 14% during the last six months.
Ryman Hospitality Properties has a market cap of $1.8 billion and an enterprise value of $2.9 million. This stock trades at a premium valuation, with a trailing price-to-earnings of 86.47 and a forward price-to-earnings of 27.94. Its estimated growth rate for this year is 400%, and for next year it's pegged at -20.2%. This is not a cash-rich company, since the total cash position on its balance sheet is $44.40 million and its total debt is $1.15 billion. This stock currently sports a dividend yield of 5.5%.
The CEO just
bought 6,682 shares, or about $232,000 worth of stock, at $34.79 per share.
From a technical perspective, RHP is currently trending above its 50-day moving average and just below its 200-day moving average, which is neutral trendwise. This stock has been uptrending strong over the last two months, with shares moving higher from its low of $32.50 to its recent high of $37.96 a share. During that move, shares of RHP have been making mostly higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of RHP within range of triggering a big breakout trade.
If you're bullish on RHP, then look for long-biased trades as long as this stock is trending above some near-term support at $36 and then once it breaks out above some near-term overhead resistance levels at its 50-day of $38.43 to some past resistance at $38.74 a share with high volume. Look for a sustained move or close above those levels with volume that hits near or above its three-month average volume of 795,155shares. If that breakout triggers soon, then RHP will set up to re-test or possibly take out its next major overhead resistance levels at $42 to $44 a share, or even $47 a share.
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