84,123 Ryman Hospitality Properties, Inc. $RHP Shares Sold by Cooke & Bieler LP

Key Points

• Cooke & Bieler LP reduced its Ryman Hospitality Properties stake by 8% in the third quarter, selling 84,123 shares and retaining 966,928 shares valued at approximately $115.6 million.
• Analysts remain broadly bullish, with the stock carrying an average “Buy” rating and an average price target of $133.17; several firms recently raised their targets to as high as $141.
• Ryman reported quarterly earnings of $1.42 per share, exceeding estimates, while revenue rose 13.6% year over year. The company also paid a quarterly dividend of $1.20, equivalent to a 3.7% annualized yield.

Cooke & Bieler LP lowered its position in Ryman Hospitality Properties, Inc. (NYSE:RHP - Free Report) by 8.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 966,928 shares of the real estate investment trust's stock after selling 84,123 shares during the period. Ryman Hospitality Properties accounts for about 1.7% of Cooke & Bieler LP's holdings, making the stock its 16th biggest position. Cooke & Bieler LP owned approximately 1.53% of Ryman Hospitality Properties worth $115,577,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Arizona State Retirement System increased its holdings in shares of Ryman Hospitality Properties by 0.6% during the second quarter. Arizona State Retirement System now owns 16,543 shares of the real estate investment trust's stock valued at $2,127,000 after acquiring an additional 103 shares in the last quarter. Inspire Investing LLC raised its position in shares of Ryman Hospitality Properties by 2.0% during the first quarter. Inspire Investing LLC now owns 5,564 shares of the real estate investment trust's stock worth $513,000 after purchasing an additional 111 shares during the period. Nisa Investment Advisors LLC raised its position in shares of Ryman Hospitality Properties by 3.9% during the third quarter. Nisa Investment Advisors LLC now owns 3,166 shares of the real estate investment trust's stock worth $382,000 after purchasing an additional 120 shares during the period. Janney Montgomery Scott LLC lifted its holdings in shares of Ryman Hospitality Properties by 0.4% in the 1st quarter. Janney Montgomery Scott LLC now owns 32,296 shares of the real estate investment trust's stock worth $2,980,000 after purchasing an additional 124 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its holdings in shares of Ryman Hospitality Properties by 20.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 875 shares of the real estate investment trust's stock worth $105,000 after purchasing an additional 146 shares in the last quarter. Institutional investors and hedge funds own 94.48% of the company's stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Cantor Fitzgerald lifted their price target on shares of Ryman Hospitality Properties from $124.00 to $135.00 and gave the company an "overweight" rating in a research report on Tuesday, August 11th. Raymond James Financial boosted their price target on shares of Ryman Hospitality Properties from $125.00 to $130.00 and gave the company an "outperform" rating in a research note on Monday, September 28th. Weiss Ratings upgraded shares of Ryman Hospitality Properties from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, August 17th. Wells Fargo & Company raised their price objective on shares of Ryman Hospitality Properties from $126.00 to $136.00 and gave the company an "overweight" rating in a research note on Thursday, July 23rd. Finally, Truist Financial raised their price objective on shares of Ryman Hospitality Properties from $132.00 to $141.00 and gave the company a "buy" rating in a research note on Thursday, September 10th. One investment analyst has rated the stock with a Strong Buy rating and thirteen have given a Buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $133.17.

Ryman Hospitality Properties Stock Performance

RHP stock opened at $130.34 on Thursday. The firm has a market cap of $8.23 billion, a PE ratio of 31.87, a P/E/G ratio of 1.98 and a beta of 1.22. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 5.02. The business has a 50 day moving average of $123.93 and a 200-day moving average of $119.51. Ryman Hospitality Properties, Inc. has a 12-month low of $83.82 and a 12-month high of $137.46.

Ryman Hospitality Properties (NYSE:RHP - Get Free Report) last issued its quarterly earnings results on Friday, August 7th. The real estate investment trust reported $1.42 EPS for the quarter, beating analysts' consensus estimates of $1.31 by $0.11. The company had revenue of $748.98 million during the quarter, compared to the consensus estimate of $734.59 million. Ryman Hospitality Properties had a return on equity of 34.54% and a net margin of 9.91%. Ryman Hospitality Properties's revenue was up 13.6% on a year-over-year basis. During the same period last year, the business posted $2.35 earnings per share. As a group, sell-side analysts expect that Ryman Hospitality Properties, Inc. will post 9.23 earnings per share for the current year.

Ryman Hospitality Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date was Wednesday, September 30th. Ryman Hospitality Properties's dividend payout ratio is 117.36%.

Ryman Hospitality Properties Profile

Ryman Hospitality Properties, Inc is a real estate investment trust that owns and invests in high-quality lodging and entertainment properties. The company focuses primarily on large-scale, group-oriented convention center resorts that serve business conferences, meetings, and leisure travelers.

Ryman's portfolio includes the Gaylord Hotels properties: Gaylord Opryland Resort & Convention Center in Nashville, Tennessee; Gaylord Palms Resort & Convention Center near Orlando, Florida; Gaylord Texan Resort & Convention Center near Dallas, Texas; Gaylord National Resort & Convention Center near Washington, DC; and Gaylord Rockies Resort & Convention Center near Denver, Colorado.

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