Adelante Capital Management LLC Purchases New Position in Ryman Hospitality Properties, Inc. $RHP

Adelante Capital Management LLC acquired a new position in shares of Ryman Hospitality Properties, Inc. (NYSE:RHP - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 199,884 shares of the real estate investment trust's stock, valued at approximately $25,695,000. Ryman Hospitality Properties comprises approximately 1.7% of Adelante Capital Management LLC's investment portfolio, making the stock its 19th biggest holding. Adelante Capital Management LLC owned approximately 0.32% of Ryman Hospitality Properties as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Royal Bank of Canada boosted its holdings in shares of Ryman Hospitality Properties by 44.1% in the first quarter. Royal Bank of Canada now owns 39,740 shares of the real estate investment trust's stock valued at $3,634,000 after acquiring an additional 12,169 shares during the period. AQR Capital Management LLC raised its position in Ryman Hospitality Properties by 131.0% in the 1st quarter. AQR Capital Management LLC now owns 13,418 shares of the real estate investment trust's stock valued at $1,227,000 after purchasing an additional 7,610 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Ryman Hospitality Properties by 8.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 784,970 shares of the real estate investment trust's stock valued at $71,778,000 after purchasing an additional 63,507 shares during the last quarter. Jane Street Group LLC boosted its stake in Ryman Hospitality Properties by 306.5% during the 1st quarter. Jane Street Group LLC now owns 36,162 shares of the real estate investment trust's stock worth $3,307,000 after purchasing an additional 27,267 shares during the period. Finally, Geneos Wealth Management Inc. boosted its stake in Ryman Hospitality Properties by 240.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 296 shares of the real estate investment trust's stock worth $27,000 after purchasing an additional 209 shares during the period. Institutional investors and hedge funds own 94.48% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. BMO Capital Markets restated an "outperform" rating and issued a $137.00 price objective on shares of Ryman Hospitality Properties in a research note on Friday, June 12th. Truist Financial raised their price target on Ryman Hospitality Properties from $129.00 to $132.00 and gave the stock a "buy" rating in a report on Tuesday, May 26th. Barclays boosted their price target 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. Raymond James Financial reaffirmed an "outperform" rating and set a $125.00 price objective on shares of Ryman Hospitality Properties in a research note on Monday, June 8th. Finally, Cantor Fitzgerald increased their price objective on Ryman Hospitality Properties from $124.00 to $135.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 11th. Twelve research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $129.73.

Ryman Hospitality Properties Stock Performance

NYSE:RHP opened at $130.00 on Thursday. 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 firm's fifty day simple moving average is $127.90 and its 200-day simple moving average is $112.11. Ryman Hospitality Properties, Inc. has a fifty-two week low of $83.82 and a fifty-two week high of $137.46. The stock has a market cap of $8.21 billion, a PE ratio of 31.78, a price-to-earnings-growth ratio of 2.37 and a beta of 1.20.

Ryman Hospitality Properties (NYSE:RHP - Get Free Report) last announced its quarterly earnings results on Friday, August 7th. The real estate investment trust reported $1.42 EPS for the quarter, topping the consensus estimate of $1.31 by $0.11. The business had revenue of $748.98 million for the quarter, compared to analyst estimates of $734.59 million. Ryman Hospitality Properties had a return on equity of 34.54% and a net margin of 9.91%.The company's quarterly revenue was up 13.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.35 EPS. Analysts expect that Ryman Hospitality Properties, Inc. will post 9.13 earnings per share for the current fiscal year.

Ryman Hospitality Properties Profile

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