Allstate Corp Acquires New Stake in Ryman Hospitality Properties, Inc. $RHP

Key Points

• Allstate Corp has acquired 10,034 shares of Ryman Hospitality Properties (NYSE:RHP), valued at approximately $918,000.
• Ryman Hospitality recently reported better-than-expected earnings, posting $2.35 EPS for the quarter, which exceeded estimates by $0.04.
• The stock has seen a price increase of 4.4% and currently has an average price target of $114.75 from analysts, with a majority rating it as "Buy".

Allstate Corp acquired a new stake in shares of Ryman Hospitality Properties, Inc. (NYSE:RHP - Free Report) during the first quarter, according to its most recent filing with the SEC. The fund acquired 10,034 shares of the real estate investment trust's stock, valued at approximately $918,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Heck Capital Advisors LLC bought a new stake in shares of Ryman Hospitality Properties during the 4th quarter valued at $31,000. Fifth Third Bancorp increased its stake in Ryman Hospitality Properties by 175.6% in the 1st quarter. Fifth Third Bancorp now owns 576 shares of the real estate investment trust's stock worth $53,000 after acquiring an additional 367 shares during the last quarter. CWM LLC increased its stake in Ryman Hospitality Properties by 213.4% in the 1st quarter. CWM LLC now owns 724 shares of the real estate investment trust's stock worth $66,000 after acquiring an additional 493 shares during the last quarter. GF Fund Management CO. LTD. bought a new position in Ryman Hospitality Properties in the 4th quarter worth about $108,000. Finally, State of Wyoming increased its stake in Ryman Hospitality Properties by 23.8% in the 4th quarter. State of Wyoming now owns 1,561 shares of the real estate investment trust's stock worth $163,000 after acquiring an additional 300 shares during the last quarter. 94.48% of the stock is currently owned by institutional investors.

Insider Transactions at Ryman Hospitality Properties

In other news, Chairman Colin V. Reed bought 8,356 shares of the firm's stock in a transaction dated Monday, June 9th. The stock was purchased at an average price of $96.92 per share, with a total value 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. The trade was a 0.97% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Alvin L. Bowles, Jr. sold 1,300 shares of the stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $99.01, for a total value of $128,713.00. Following the completion of the transaction, the director directly 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. Corporate insiders own 5.00% of the company's stock.

Ryman Hospitality Properties Trading Down 0.2%

NYSE RHP traded down $0.20 on Friday, hitting $98.73. The company's stock had a trading volume of 331,048 shares, compared to its average volume of 675,691. Ryman Hospitality Properties, Inc. has a 52-week low of $76.27 and a 52-week high of $121.77. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 4.72. The company's 50-day simple moving average is $98.49 and its 200 day simple moving average is $95.71. The firm has a market cap of $6.22 billion, a P/E ratio of 23.56, a PEG ratio of 1.78 and a beta of 1.62.

Ryman Hospitality Properties (NYSE:RHP - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The real estate investment trust reported $2.35 earnings per share 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 business had revenue of $659.52 million during the quarter, compared to analysts' expectations of $616.56 million. During the same quarter last year, the business posted $2.78 EPS. The business's revenue was up 7.5% on a year-over-year basis. Ryman Hospitality Properties has set its FY 2025 guidance at 7.930-8.490 EPS. Research analysts predict that Ryman Hospitality Properties, Inc. will post 8.81 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on RHP shares. JPMorgan Chase & Co. started coverage on Ryman Hospitality Properties in a research note on Monday, June 23rd. They issued an "overweight" rating and a $117.00 target price on the stock. Wall Street Zen lowered Ryman Hospitality Properties from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Bank of America increased their price objective on Ryman Hospitality Properties from $105.00 to $110.00 and gave the company a "buy" rating in a research report on Monday, July 21st. Truist Financial reduced their price objective on Ryman Hospitality Properties from $127.00 to $120.00 and set a "buy" rating on the stock in a research report on Friday, May 30th. Finally, Wedbush set a $110.00 price objective on Ryman Hospitality Properties and gave the company an "outperform" rating in a research report on Tuesday, May 6th. Eight analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Ryman Hospitality Properties has a consensus rating of "Buy" and a consensus target price of $115.50.

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.