Alberta Investment Management Corp Trims Holdings in 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 reduced its position in Ryman Hospitality Properties, Inc. (NYSE:RHP - Free Report) by 32.5% in the first quarter, according to its most recent filing 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 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Heck Capital Advisors LLC purchased a new stake in Ryman Hospitality Properties in the 4th quarter valued at about $31,000. Fifth Third Bancorp raised its position in Ryman Hospitality Properties by 175.6% during the 1st quarter. Fifth Third Bancorp now owns 576 shares of the real estate investment trust's stock valued at $53,000 after purchasing an additional 367 shares in the last quarter. CWM LLC grew its position in shares of Ryman Hospitality Properties by 213.4% during the 1st quarter. CWM LLC now owns 724 shares of the real estate investment trust's stock worth $66,000 after buying an additional 493 shares in the last quarter. Covestor Ltd lifted its stake in Ryman Hospitality Properties by 33.3% in the fourth quarter. Covestor Ltd now owns 829 shares of the real estate investment trust's stock worth $87,000 after acquiring an additional 207 shares during the period. Finally, FIL Ltd increased its position in Ryman Hospitality Properties by 44.5% during the 4th quarter. FIL Ltd now owns 929 shares of the real estate investment trust's stock valued at $97,000 after purchasing an additional 286 shares during the period. Hedge funds and other institutional investors own 94.48% of the company's stock.

Ryman Hospitality Properties Stock Performance

Shares of NYSE RHP traded down $0.48 during midday trading on Thursday, reaching $93.94. 400,396 shares of the company traded hands, compared to its average volume of 819,200. The stock has a 50-day moving average price of $99.03 and a 200 day moving average price of $96.74. The company has a market cap of $5.64 billion, a price-to-earnings ratio of 22.42, a PEG ratio of 2.16 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 debt-to-equity ratio of 4.72, a current ratio of 1.63 and a quick ratio of 1.55.

Ryman Hospitality Properties (NYSE:RHP - Get Free Report) last issued its earnings results on Monday, August 4th. The real estate investment trust reported $2.35 EPS for the quarter, topping the consensus estimate of $2.31 by $0.04. Ryman Hospitality Properties had a return on equity of 41.65% and a net margin of 10.74%. The firm had revenue of $659.52 million during the quarter, compared to the consensus estimate of $616.56 million. During the same quarter in the previous year, the firm earned $2.78 earnings per share. The business's quarterly revenue was up 7.5% on a year-over-year basis. Sell-side analysts anticipate that Ryman Hospitality Properties, Inc. will post 8.81 earnings per share for the current fiscal year.

Ryman Hospitality Properties Announces Dividend

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

Wall Street Analyst Weigh In

Several analysts have weighed in on RHP shares. Wedbush set a $110.00 target price on shares of Ryman Hospitality Properties and gave the stock an "outperform" rating in a research report on Tuesday, May 6th. Truist Financial reduced their price target on shares of Ryman Hospitality Properties from $127.00 to $120.00 and set a "buy" rating on the stock in a research note on Friday, May 30th. Jefferies Financial Group dropped their price objective on Ryman Hospitality Properties from $118.00 to $100.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Bank of America boosted their target price on Ryman Hospitality Properties from $105.00 to $110.00 and gave the stock a "buy" rating in a research report on Monday, July 21st. Finally, Wells Fargo & Company boosted their target price on shares of Ryman Hospitality Properties from $101.00 to $108.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 15th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $114.75.

Insider Transactions at Ryman Hospitality Properties

In other news, Chairman Colin V. Reed bought 8,356 shares of the business's stock in a transaction dated Monday, June 9th. The shares were purchased at an average price of $96.92 per share, for a total transaction of $809,863.52. Following the completion of the acquisition, the chairman owned 870,406 shares of the company's stock, valued at approximately $84,359,749.52. This trade represents a 0.97% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Alvin L. Bowles, Jr. sold 1,300 shares of the firm's stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $99.01, for a total transaction of $128,713.00. Following the sale, the director owned 2,576 shares of the company's stock, valued at approximately $255,049.76. This 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.

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.