California State Teachers Retirement System Raises Stake in Ryman Hospitality Properties, Inc. $RHP

Key Points

• California State Teachers Retirement System increased its Ryman Hospitality Properties stake by 21.9% in the first quarter, adding 12,472 shares to own 69,390 shares valued at approximately $6.4 million.
• Institutional ownership remains substantial at 94.48%, with Norges Bank, Invesco, Balyasny Asset Management, Qube Research & Technologies, and UBS among investors recently building positions.
• Analysts are broadly bullish: 10 analysts rate RHP a Buy and one rates it Hold, producing a “Moderate Buy” consensus and an average price target of $127.10, near the stock’s reported $127.53 price.

California State Teachers Retirement System lifted its position in Ryman Hospitality Properties, Inc. (NYSE:RHP - Free Report) by 21.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 69,390 shares of the real estate investment trust's stock after purchasing an additional 12,472 shares during the period. California State Teachers Retirement System owned about 0.11% of Ryman Hospitality Properties worth $6,403,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new position in shares of Ryman Hospitality Properties during the 4th quarter valued at $48,036,000. Invesco Ltd. boosted its holdings in Ryman Hospitality Properties by 184.9% in the 3rd quarter. Invesco Ltd. now owns 739,608 shares of the real estate investment trust's stock worth $66,261,000 after buying an additional 479,990 shares during the period. Balyasny Asset Management L.P. purchased a new stake in Ryman Hospitality Properties in the 3rd quarter worth $30,975,000. Qube Research & Technologies Ltd purchased a new stake in Ryman Hospitality Properties in the 3rd quarter worth $18,161,000. Finally, UBS Group AG raised its holdings in Ryman Hospitality Properties by 116.3% during the third quarter. UBS Group AG now owns 371,163 shares of the real estate investment trust's stock valued at $33,252,000 after acquiring an additional 199,556 shares during the period. 94.48% of the stock is owned by hedge funds and other institutional investors.

Ryman Hospitality Properties Stock Performance

Shares of NYSE RHP opened at $127.53 on Thursday. The company has a market cap of $8.05 billion, a P/E ratio of 33.65, a P/E/G ratio of 2.29 and a beta of 1.20. Ryman Hospitality Properties, Inc. has a 52-week low of $83.82 and a 52-week high of $137.46. The company has a debt-to-equity ratio of 5.15, a quick ratio of 1.35 and a current ratio of 1.35. The firm's fifty day moving average is $125.70 and its two-hundred day moving average is $108.83.

Analyst Ratings Changes

Several brokerages have recently commented on RHP. JPMorgan Chase & Co. boosted their price objective on Ryman Hospitality Properties from $113.00 to $129.00 and gave the company an "overweight" rating in a research report on Tuesday, July 21st. Truist Financial increased their target price on Ryman Hospitality Properties from $129.00 to $132.00 and gave the stock a "buy" rating in a research report on Tuesday, May 26th. BMO Capital Markets reissued an "outperform" rating and set a $137.00 target price on shares of Ryman Hospitality Properties in a research note on Friday, June 12th. Morgan Stanley boosted their price target on Ryman Hospitality Properties from $105.00 to $112.00 and gave the stock an "overweight" rating in a report on Tuesday, May 12th. Finally, Wells Fargo & Company upped their price target on Ryman Hospitality Properties from $126.00 to $136.00 and gave the stock an "overweight" rating in a research note on Thursday, July 23rd. Ten equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $127.10.

Ryman Hospitality Properties Company Profile

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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