Alberta Investment Management Corp Sells 10,057 Shares of Ryman Hospitality Properties, Inc. (NYSE:RHP)

Key Points

• Alberta Investment Management Corp sold 10,057 shares of Ryman Hospitality Properties, reducing its holdings by 32.5% to 20,842 shares, now valued at approximately $1.91 million.
• Analysts have set a consensus price target of $114.75 for Ryman, with several firms giving "buy" ratings and price targets ranging from $100.00 to $120.00.
• Ryman reported earnings of $2.08 per share for the last quarter, exceeding expectations and reflecting a year-over-year revenue increase of 11.2%.

Alberta Investment Management Corp trimmed its stake in shares of Ryman Hospitality Properties, Inc. (NYSE:RHP - Free Report) by 32.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,842 shares of the real estate investment trust's stock after selling 10,057 shares during the quarter. Alberta Investment Management Corp's holdings in Ryman Hospitality Properties were worth $1,906,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Principal Financial Group Inc. raised its stake in shares of Ryman Hospitality Properties by 6.4% in the first quarter. Principal Financial Group Inc. now owns 3,462,112 shares of the real estate investment trust's stock valued at $316,576,000 after acquiring an additional 207,419 shares during the last quarter. Nuveen Asset Management LLC boosted its holdings in Ryman Hospitality Properties by 0.6% in the fourth quarter. Nuveen Asset Management LLC now owns 936,712 shares of the real estate investment trust's stock valued at $97,737,000 after acquiring an additional 5,807 shares during the last quarter. Cooke & Bieler LP increased its position in Ryman Hospitality Properties by 25.9% in the first quarter. Cooke & Bieler LP now owns 902,874 shares of the real estate investment trust's stock worth $82,559,000 after purchasing an additional 185,880 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in Ryman Hospitality Properties by 4.5% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 892,018 shares of the real estate investment trust's stock worth $81,566,000 after purchasing an additional 38,767 shares during the last quarter. Finally, Deutsche Bank AG lifted its position in Ryman Hospitality Properties by 4.0% during the 4th quarter. Deutsche Bank AG now owns 852,624 shares of the real estate investment trust's stock valued at $88,963,000 after purchasing an additional 32,518 shares during the period. 94.48% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Chairman Colin V. Reed purchased 8,356 shares of the company's stock in a transaction on Monday, June 9th. The shares were purchased at an average price of $96.92 per share, with a total value of $809,863.52. Following the purchase, the chairman directly owned 870,406 shares of the company's stock, valued at $84,359,749.52. This trade represents a 0.97% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Alvin L. Bowles, Jr. sold 1,300 shares of the business's stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $99.01, for a total value of $128,713.00. Following the completion of the sale, the director owned 2,576 shares in the company, valued at approximately $255,049.76. This trade represents a 33.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 5.00% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Truist Financial lowered their price target on shares of Ryman Hospitality Properties from $127.00 to $120.00 and set a "buy" rating for the company in a research report on Friday, May 30th. Evercore ISI lowered their target price on shares of Ryman Hospitality Properties from $130.00 to $120.00 and set an "outperform" rating for the company in a report on Monday, April 28th. Bank of America upped their target price on shares of Ryman Hospitality Properties from $105.00 to $110.00 and gave the company a "buy" rating in a research report on Monday, July 21st. Wells Fargo & Company increased their price target on Ryman Hospitality Properties from $101.00 to $108.00 and gave the company an "overweight" rating in a research note on Tuesday, July 15th. Finally, JPMorgan Chase & Co. initiated coverage on Ryman Hospitality Properties in a research note on Monday, June 23rd. They set an "overweight" rating and a $117.00 price objective for the company. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $114.75.

Ryman Hospitality Properties Trading Up 0.2%

Shares of RHP traded up $0.19 during trading hours on Monday, reaching $93.10. The stock had a trading volume of 987,540 shares, compared to its average volume of 522,616. The company has a market cap of $5.59 billion, a P/E ratio of 19.72, a P/E/G ratio of 2.13 and a beta of 1.62. Ryman Hospitality Properties, Inc. has a 52 week low of $76.27 and a 52 week high of $121.77. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 5.92. The firm has a 50-day moving average of $99.14 and a 200 day moving average of $96.78.

Ryman Hospitality Properties (NYSE:RHP - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The real estate investment trust reported $2.35 EPS for the quarter, topping analysts' consensus estimates of $2.31 by $0.04. Ryman Hospitality Properties had a return on equity of 51.95% and a net margin of 12.16%. During the same quarter last year, the company earned $2.78 EPS. The business's revenue was up 7.5% on a year-over-year basis. On average, sell-side analysts expect that Ryman Hospitality Properties, Inc. will post 8.81 earnings per share for the current fiscal year.

Ryman Hospitality Properties Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were paid a $1.15 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $4.60 dividend on an annualized basis and a yield of 4.9%. Ryman Hospitality Properties's payout ratio is presently 97.46%.

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.