609,470 Shares in Ryman Hospitality Properties, Inc. $RHP Purchased by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon acquired 609,470 shares of Ryman Hospitality Properties worth approximately $78.3 million, giving it a 0.97% stake. Institutional investors and hedge funds collectively own 94.48% of RHP.
• Analysts remain bullish, with all 12 covering analysts rating the stock a Buy and the consensus price target at $129.73. Several firms recently raised their targets, including BMO Capital Markets at $137.
• Ryman reported quarterly EPS of $1.42, beating estimates by $0.11, while revenue rose 13.6% year over year to $748.98 million. Shares opened at $132.74, near the company’s 52-week high of $137.46.

Bank of New York Mellon Corp acquired a new stake in shares of Ryman Hospitality Properties, Inc. (NYSE:RHP - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 609,470 shares of the real estate investment trust's stock, valued at approximately $78,347,000. Bank of New York Mellon Corp owned approximately 0.97% of Ryman Hospitality Properties at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. Norges Bank bought a new position in Ryman Hospitality Properties in the fourth quarter valued at approximately $48,036,000. Invesco Ltd. lifted its stake in Ryman Hospitality Properties by 184.9% during the third quarter. Invesco Ltd. now owns 739,608 shares of the real estate investment trust's stock worth $66,261,000 after purchasing an additional 479,990 shares during the last quarter. Balyasny Asset Management L.P. bought a new stake in Ryman Hospitality Properties during the third quarter worth $30,975,000. Qube Research & Technologies Ltd acquired a new stake in shares of Ryman Hospitality Properties in the 3rd quarter valued at $18,161,000. Finally, UBS Group AG boosted its holdings in shares of Ryman Hospitality Properties by 116.3% in the 3rd quarter. UBS Group AG now owns 371,163 shares of the real estate investment trust's stock valued at $33,252,000 after purchasing an additional 199,556 shares in the last quarter. 94.48% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on RHP shares. BMO Capital Markets reissued an "outperform" rating and set a $137.00 price target on shares of Ryman Hospitality Properties in a report on Friday, June 12th. Truist Financial lifted their target price on Ryman Hospitality Properties from $129.00 to $132.00 and gave the company a "buy" rating in a research report on Tuesday, May 26th. Barclays lifted their target price on Ryman Hospitality Properties from $120.00 to $130.00 and gave the company an "overweight" rating in a research report on Tuesday, July 21st. JPMorgan Chase & Co. increased their target price on shares of Ryman Hospitality Properties from $113.00 to $129.00 and gave the stock an "overweight" rating in a report on Tuesday, July 21st. Finally, Morgan Stanley raised their price target on shares of Ryman Hospitality Properties from $105.00 to $112.00 and gave the company an "overweight" rating in a research note on Tuesday, May 12th. Twelve equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $129.73.

Ryman Hospitality Properties Price Performance

RHP stock opened at $132.74 on Wednesday. The company has a market capitalization of $8.38 billion, a P/E ratio of 32.45, a PEG ratio of 2.32 and a beta of 1.20. The company has a fifty day moving average price of $127.75 and a 200-day moving average price of $111.87. The company has a debt-to-equity ratio of 5.02, a quick ratio of 1.34 and a current ratio of 1.34. Ryman Hospitality Properties, Inc. has a 52-week low of $83.82 and a 52-week high of $137.46.

Ryman Hospitality Properties (NYSE:RHP - Get Free Report) last issued its quarterly earnings data on Friday, August 7th. The real estate investment trust reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.11. Ryman Hospitality Properties had a net margin of 9.91% and a return on equity of 34.54%. The company had revenue of $748.98 million for the quarter, compared to analysts' expectations of $734.59 million. During the same quarter in the previous year, the firm posted $2.35 earnings per share. Ryman Hospitality Properties's revenue for the quarter was up 13.6% on a year-over-year basis. As a group, equities analysts expect that Ryman Hospitality Properties, Inc. will post 9.18 EPS for the current year.

About Ryman Hospitality Properties

Ryman Hospitality Properties, Inc is a publicly traded real estate investment trust (REIT) specializing in the ownership and operation of group‐oriented, large convention center hotel resorts. The company's portfolio is anchored by its Gaylord Hotels brand, offering integrated resort, convention, entertainment and dining experiences under long‐term management agreements with Marriott International.

Ryman's flagship properties include Gaylord Opryland Resort & Convention Center in Nashville, Gaylord Texan Resort & Convention Center near Dallas/Fort Worth and Gaylord Palms Resort & Convention Center in Orlando, Florida.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source