Bank of America Corp DE Takes Position in Ryman Hospitality Properties, Inc. $RHP

Key Points

• Bank of America acquired 382,738 Ryman Hospitality Properties shares during the second quarter, valued at approximately $49.2 million and representing about 0.61% of the REIT. Institutional investors collectively own 94.48% of Ryman’s stock.
• Ryman reported quarterly EPS of $1.42, beating estimates by $0.11, while revenue rose 13.6% year over year to $748.98 million. The company declared a quarterly dividend of $1.20, equivalent to a 3.9% annualized yield.
• Analyst sentiment remains positive, with 13 Buy ratings and a consensus price target of $132.33, above the reported share price of $122.01.

Bank of America Corp DE acquired a new position in Ryman Hospitality Properties, Inc. (NYSE:RHP - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 382,738 shares of the real estate investment trust's stock, valued at approximately $49,201,000. Bank of America Corp DE owned about 0.61% of Ryman Hospitality Properties as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of Ryman Hospitality Properties in the second quarter valued at $1,438,737,000. Geode Capital Management LLC lifted its stake in Ryman Hospitality Properties by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 1,588,492 shares of the real estate investment trust's stock worth $150,327,000 after acquiring an additional 11,591 shares in the last quarter. Cooke & Bieler LP lifted its stake in Ryman Hospitality Properties by 12.8% during the 4th quarter. Cooke & Bieler LP now owns 1,251,144 shares of the real estate investment trust's stock worth $118,383,000 after acquiring an additional 142,206 shares in the last quarter. Reinhart Partners LLC. boosted its holdings in Ryman Hospitality Properties by 1.7% during the 2nd quarter. Reinhart Partners LLC. now owns 710,878 shares of the real estate investment trust's stock valued at $91,386,000 after acquiring an additional 11,766 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in Ryman Hospitality Properties by 2.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 913,107 shares of the real estate investment trust's stock valued at $84,251,000 after acquiring an additional 18,614 shares during the period. Hedge funds and other institutional investors own 94.48% of the company's stock.

Ryman Hospitality Properties Stock Up 0.1%

Shares of NYSE:RHP opened at $122.01 on Monday. Ryman Hospitality Properties, Inc. has a fifty-two week low of $83.82 and a fifty-two week high of $137.46. The firm's 50 day moving average price is $126.45 and its 200 day moving average price is $114.72. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 5.02. The stock has a market cap of $7.70 billion, a price-to-earnings ratio of 29.83, a price-to-earnings-growth ratio of 1.87 and a beta of 1.18.

Ryman Hospitality Properties (NYSE:RHP - Get Free Report) last announced its quarterly earnings data on Friday, August 7th. The real estate investment trust reported $1.42 EPS for the quarter, beating analysts' consensus estimates of $1.31 by $0.11. The company 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% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.35 EPS. As a group, equities research analysts predict that Ryman Hospitality Properties, Inc. will post 9.21 earnings per share for the current fiscal year.

Ryman Hospitality Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be issued a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend is Wednesday, September 30th. Ryman Hospitality Properties's dividend payout ratio is 117.36%.

Analyst Ratings Changes

A number of analysts have issued reports on RHP shares. Barclays boosted their price target on shares of Ryman Hospitality Properties from $130.00 to $147.00 and gave the stock an "overweight" rating in a research note on Thursday, August 27th. BMO Capital Markets reissued an "outperform" rating and issued a $137.00 price objective on shares of Ryman Hospitality Properties in a research note on Friday, June 12th. Truist Financial lifted their price objective on shares of Ryman Hospitality Properties from $132.00 to $141.00 and gave the company a "buy" rating in a report on Thursday, September 10th. Wells Fargo & Company upped their target price on shares of Ryman Hospitality Properties from $126.00 to $136.00 and gave the stock an "overweight" rating in a research note on Thursday, July 23rd. Finally, JPMorgan Chase & Co. increased their target price on shares of Ryman Hospitality Properties from $113.00 to $129.00 and gave the stock an "overweight" rating in a report on Tuesday, July 21st. Thirteen analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $132.33.

Ryman Hospitality Properties Profile

Ryman Hospitality Properties, Inc NYSE: RHP is a real estate investment trust focused on owning and operating high-quality, group-oriented lodging and entertainment properties. The company's hospitality portfolio is centered on large convention resorts operating under the Gaylord Hotels brand, which serve business groups, conventions, meetings and leisure travelers.

Ryman's Gaylord properties include resorts in Nashville, Tennessee; Orlando, Florida; the Dallas–Fort Worth area of Texas; National Harbor, Maryland; and the Denver metropolitan area of Colorado.

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