Allianz Asset Management GmbH Sells 134,409 Shares of Ryman Hospitality Properties, Inc. (NYSE:RHP)

Key Points

• Allianz Asset Management GmbH reduced its stake in Ryman Hospitality Properties by 65.2% during the first quarter, selling 134,409 shares and holding 71,800 shares worth approximately $6.57 million.
• Insider trading revealed that Chairman Colin V. Reed purchased 8,356 shares for about $809,863, while Director Alvin L. Bowles, Jr. sold 1,300 shares, marking a 33.54% decrease in his ownership.
• Ryman Hospitality Properties recently declared a quarterly dividend of $1.15 per share, resulting in a yield of 4.65% and a payout ratio of 97.46%.

Allianz Asset Management GmbH reduced its stake in Ryman Hospitality Properties, Inc. (NYSE:RHP - Free Report) by 65.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 71,800 shares of the real estate investment trust's stock after selling 134,409 shares during the quarter. Allianz Asset Management GmbH owned 0.12% of Ryman Hospitality Properties worth $6,565,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Janus Henderson Group PLC raised its holdings in Ryman Hospitality Properties by 946.6% in the fourth quarter. Janus Henderson Group PLC now owns 502,983 shares of the real estate investment trust's stock valued at $52,455,000 after acquiring an additional 454,922 shares in the last quarter. Norges Bank acquired a new position in Ryman Hospitality Properties during the fourth quarter valued at approximately $29,448,000. Adelante Capital Management LLC boosted its stake in Ryman Hospitality Properties by 340.1% during the fourth quarter. Adelante Capital Management LLC now owns 348,890 shares of the real estate investment trust's stock worth $36,403,000 after buying an additional 269,623 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Ryman Hospitality Properties during the fourth quarter valued at $23,995,000. Finally, Principal Financial Group Inc. raised its holdings in Ryman Hospitality Properties by 6.4% during the 1st quarter. Principal Financial Group Inc. now owns 3,462,112 shares of the real estate investment trust's stock worth $316,576,000 after purchasing an additional 207,419 shares during the last quarter. 94.48% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Ryman Hospitality Properties

In other news, Chairman Colin V. Reed purchased 8,356 shares of the company'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 transaction, 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 Ryman Hospitality Properties stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $99.01, for a total transaction of $128,713.00. Following the completion of the sale, the director owned 2,576 shares of the company's stock, valued at $255,049.76. This represents a 33.54% decrease in their position. The disclosure for this sale can be found here. 5.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on RHP shares. Wells Fargo & Company boosted their price objective on Ryman Hospitality Properties from $101.00 to $108.00 and gave the company an "overweight" rating in a research report on Tuesday, July 15th. JPMorgan Chase & Co. initiated coverage on Ryman Hospitality Properties in a report on Monday, June 23rd. They issued an "overweight" rating and a $117.00 target price for the company. Jefferies Financial Group cut their price objective on Ryman Hospitality Properties from $118.00 to $100.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. Evercore ISI decreased their target price on Ryman Hospitality Properties from $130.00 to $120.00 and set an "outperform" rating on the stock in a research note on Monday, April 28th. Finally, Wedbush set a $110.00 price objective on Ryman Hospitality Properties and gave the stock an "outperform" rating in a report on Tuesday, May 6th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $114.75.

Ryman Hospitality Properties Price Performance

Shares of RHP stock traded down $1.29 during trading hours on Thursday, hitting $95.59. The company's stock had a trading volume of 79,456 shares, compared to its average volume of 811,417. The business has a fifty day moving average of $99.21 and a 200-day moving average of $97.04. Ryman Hospitality Properties, Inc. has a twelve month low of $76.27 and a twelve month high of $121.77. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 5.92. The stock has a market cap of $5.74 billion, a price-to-earnings ratio of 20.29, a P/E/G ratio of 2.26 and a beta of 1.57.

Ryman Hospitality Properties (NYSE:RHP - Get Free Report) last released its earnings results on Thursday, May 1st. The real estate investment trust reported $2.08 EPS for the quarter, topping analysts' consensus estimates of $1.79 by $0.29. Ryman Hospitality Properties had a net margin of 12.16% and a return on equity of 51.95%. The business had revenue of $587.28 million for the quarter, compared to the consensus estimate of $546.52 million. During the same period in the previous year, the firm earned $1.60 EPS. The business's revenue for the quarter was up 11.2% on a year-over-year basis. As a group, equities research analysts anticipate that Ryman Hospitality Properties, Inc. will post 8.81 EPS for the current year.

Ryman Hospitality Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were paid a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 4.81%. The ex-dividend date of this dividend was Monday, June 30th. Ryman Hospitality Properties's dividend payout ratio is 97.46%.

Ryman Hospitality Properties Company Profile

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.