Bank of America Corp DE Sells 99,418 Shares of Ryman Hospitality Properties, Inc. $RHP

Key Points

• Bank of America reduced its Ryman Hospitality Properties stake by 18.9% in the first quarter, selling 99,418 shares and retaining 425,429 shares worth approximately $39.3 million. Institutional investors collectively own 94.48% of the REIT.
• Ryman reported quarterly EPS of $1.42, exceeding estimates of $1.31, while revenue reached $748.98 million, up 13.6% year over year and above consensus expectations.
• Wall Street remains broadly positive, with 11 analysts rating the stock Buy and one rating it Hold. The shares have a “Moderate Buy” consensus and an average price target of $129.73, compared with a recent price of $124.88.

Bank of America Corp DE reduced its position in Ryman Hospitality Properties, Inc. (NYSE:RHP - Free Report) by 18.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 425,429 shares of the real estate investment trust's stock after selling 99,418 shares during the period. Bank of America Corp DE owned approximately 0.67% of Ryman Hospitality Properties worth $39,254,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. Global Retirement Partners LLC grew its stake in shares of Ryman Hospitality Properties by 155.0% during the 4th quarter. Global Retirement Partners LLC now owns 283 shares of the real estate investment trust's stock valued at $27,000 after purchasing an additional 172 shares during the period. International Assets Investment Management LLC boosted its stake in shares of Ryman Hospitality Properties by 437.0% in the first quarter. International Assets Investment Management LLC now owns 290 shares of the real estate investment trust's stock worth $27,000 after acquiring an additional 236 shares during the period. Los Angeles Capital Management LLC bought a new stake in Ryman Hospitality Properties during the 4th quarter valued at approximately $28,000. Caitong International Asset Management Co. Ltd boosted its stake in Ryman Hospitality Properties by 61.7% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 296 shares of the real estate investment trust's stock worth $27,000 after purchasing an additional 113 shares during the period. Finally, Geneos Wealth Management Inc. boosted its stake in Ryman Hospitality Properties by 240.2% in 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 own 94.48% of the company's stock.

Ryman Hospitality Properties Trading Up 0.7%

NYSE RHP opened at $124.88 on Friday. Ryman Hospitality Properties, Inc. has a one year low of $83.82 and a one year high of $137.46. The company has a debt-to-equity ratio of 5.02, a quick ratio of 1.35 and a current ratio of 1.34. The company has a market capitalization of $7.88 billion, a price-to-earnings ratio of 30.53, a price-to-earnings-growth ratio of 2.20 and a beta of 1.20. The company's 50-day simple moving average is $126.59 and its two-hundred day simple moving average is $109.99.

Ryman Hospitality Properties (NYSE:RHP - Get Free Report) last released its quarterly earnings data on Friday, August 7th. The real estate investment trust reported $1.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.31 by $0.11. The firm had revenue of $748.98 million for the quarter, compared to the consensus estimate of $734.59 million. Ryman Hospitality Properties had a net margin of 9.91% and a return on equity of 34.54%. The company's quarterly revenue was up 13.6% on a year-over-year basis. During the same period last year, the firm earned $2.35 earnings per share. Equities analysts forecast that Ryman Hospitality Properties, Inc. will post 9.14 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Cantor Fitzgerald lifted their price target on Ryman Hospitality Properties from $124.00 to $135.00 and gave the stock an "overweight" rating in a research report on Tuesday. Raymond James Financial reiterated an "outperform" rating and issued a $125.00 target price on shares of Ryman Hospitality Properties in a report on Monday, June 8th. Wells Fargo & Company boosted their target price on Ryman Hospitality Properties from $126.00 to $136.00 and gave the company an "overweight" rating in a research report on Thursday, July 23rd. Jefferies Financial Group reissued a "buy" rating and issued a $145.00 target price on shares of Ryman Hospitality Properties in a research note on Wednesday. Finally, Truist Financial upped their price objective on Ryman Hospitality Properties from $129.00 to $132.00 and gave the company a "buy" rating in a research report on Tuesday, May 26th. Eleven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $129.73.

About Ryman Hospitality Properties

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.

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