Ryman Hospitality Properties, Inc. (NYSE:RHP) Shares Sold by Bank of America Corp DE

Bank of America Corp DE reduced its holdings in Ryman Hospitality Properties, Inc. (NYSE:RHP - Free Report) by 6.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 311,368 shares of the real estate investment trust's stock after selling 21,934 shares during the period. Bank of America Corp DE owned about 0.52% of Ryman Hospitality Properties worth $32,488,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Cooke & Bieler LP acquired a new position in Ryman Hospitality Properties during the fourth quarter valued at $74,811,000. Hamlin Capital Management LLC purchased a new position in shares of Ryman Hospitality Properties during the 4th quarter valued at about $65,142,000. Norges Bank purchased a new position in shares of Ryman Hospitality Properties during the 4th quarter valued at about $29,448,000. Adelante Capital Management LLC lifted its holdings in shares of Ryman Hospitality Properties by 340.1% in the 4th quarter. Adelante Capital Management LLC now owns 348,890 shares of the real estate investment trust's stock valued at $36,403,000 after buying an additional 269,623 shares during the period. Finally, Victory Capital Management Inc. boosted its stake in shares of Ryman Hospitality Properties by 87.3% in the fourth quarter. Victory Capital Management Inc. now owns 547,639 shares of the real estate investment trust's stock worth $57,141,000 after buying an additional 255,229 shares during the last quarter. 94.48% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Ryman Hospitality Properties

In related news, Director Alvin L. Bowles, Jr. sold 473 shares of Ryman Hospitality Properties stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $97.03, for a total value of $45,895.19. Following the sale, the director now directly owns 2,675 shares in the company, valued at approximately $259,555.25. The trade was a 15.03% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Colin V. Reed acquired 8,231 shares of the business's stock in a transaction on Wednesday, February 26th. The shares were purchased at an average price of $97.54 per share, with a total value of $802,851.74. Following the completion of the purchase, the chairman now owns 832,260 shares in the company, valued at $81,178,640.40. This represents a 1.00% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 5.00% of the company's stock.

Ryman Hospitality Properties Price Performance

Shares of Ryman Hospitality Properties stock traded down $0.25 on Thursday, reaching $94.46. The company's stock had a trading volume of 55,546 shares, compared to its average volume of 634,662. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 6.07. The company has a market capitalization of $5.67 billion, a P/E ratio of 21.51, a PEG ratio of 2.71 and a beta of 1.55. The stock has a 50-day moving average price of $90.92 and a 200-day moving average price of $101.10. Ryman Hospitality Properties, Inc. has a 52-week low of $76.27 and a 52-week high of $121.77.

Ryman Hospitality Properties (NYSE:RHP - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The real estate investment trust reported $2.08 EPS for the quarter, topping the consensus estimate of $1.79 by $0.29. The company had revenue of $587.28 million during the quarter, compared to analyst estimates of $546.52 million. Ryman Hospitality Properties had a net margin of 11.61% and a return on equity of 49.23%. The firm's revenue was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.60 EPS. Analysts expect that Ryman Hospitality Properties, Inc. will post 8.81 EPS for the current year.

Ryman Hospitality Properties Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be paid a dividend of $1.15 per share. The ex-dividend date is Monday, June 30th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 4.87%. Ryman Hospitality Properties's dividend payout ratio is currently 97.46%.

Analyst Ratings Changes

Several research analysts recently weighed in on RHP shares. Evercore ISI reduced their price target on Ryman Hospitality Properties from $130.00 to $120.00 and set an "outperform" rating for the company in a research report on Monday, April 28th. Wedbush set a $110.00 price objective on shares of Ryman Hospitality Properties and gave the stock an "outperform" rating in a research note on Tuesday, May 6th. Jefferies Financial Group cut their target price on shares of Ryman Hospitality Properties from $118.00 to $100.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. StockNews.com raised shares of Ryman Hospitality Properties from a "sell" rating to a "hold" rating in a report on Saturday, March 1st. Finally, Wells Fargo & Company raised their price target on shares of Ryman Hospitality Properties from $99.00 to $101.00 and gave the company an "overweight" rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $113.00.

About Ryman Hospitality Properties

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.