Knights of Columbus Asset Advisors LLC Lowers Holdings in Ryman Hospitality Properties, Inc. (NYSE:RHP)

Key Points

• Knights of Columbus Asset Advisors LLC reduced its stake in Ryman Hospitality Properties by 61.6%, now holding 15,272 shares worth about $1,396,000 after selling 24,493 shares.
• Ryman Hospitality Properties reported a quarterly EPS of $2.08, surpassing estimates and demonstrating an 11.2% revenue increase year-over-year to $587.28 million.
• The company declared a quarterly dividend of $1.15, resulting in an annualized dividend yield of 4.62%, with a payout ratio of 97.46%.

Knights of Columbus Asset Advisors LLC cut its holdings in shares of Ryman Hospitality Properties, Inc. (NYSE:RHP - Free Report) by 61.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,272 shares of the real estate investment trust's stock after selling 24,493 shares during the quarter. Knights of Columbus Asset Advisors LLC's holdings in Ryman Hospitality Properties were worth $1,396,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of RHP. Heck Capital Advisors LLC bought a new stake in shares of Ryman Hospitality Properties in the fourth quarter worth about $31,000. Fifth Third Bancorp increased its holdings in shares of Ryman Hospitality Properties by 175.6% in the first quarter. Fifth Third Bancorp now owns 576 shares of the real estate investment trust's stock worth $53,000 after purchasing an additional 367 shares during the last quarter. CWM LLC increased its holdings in shares of Ryman Hospitality Properties by 213.4% in the first quarter. CWM LLC now owns 724 shares of the real estate investment trust's stock worth $66,000 after purchasing an additional 493 shares during the last quarter. Covestor Ltd increased its holdings in shares of Ryman Hospitality Properties by 33.3% in the fourth quarter. Covestor Ltd now owns 829 shares of the real estate investment trust's stock worth $87,000 after purchasing an additional 207 shares during the last quarter. Finally, FIL Ltd increased its holdings in shares of Ryman Hospitality Properties by 44.5% in the fourth quarter. FIL Ltd now owns 929 shares of the real estate investment trust's stock worth $97,000 after purchasing an additional 286 shares during the last quarter. 94.48% of the stock is owned by institutional investors.

Ryman Hospitality Properties Trading Down 0.1%

RHP traded down $0.08 on Wednesday, hitting $98.46. The company had a trading volume of 63,453 shares, compared to its average volume of 814,103. The company has a market cap of $5.91 billion, a PE ratio of 20.86, a PEG ratio of 2.26 and a beta of 1.57. Ryman Hospitality Properties, Inc. has a 12-month low of $76.27 and a 12-month high of $121.77. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 5.92. The business's fifty day simple moving average is $99.17 and its 200 day simple moving average is $97.04.

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

Ryman Hospitality Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were given a dividend of $1.15 per share. The ex-dividend date was Monday, June 30th. This represents a $4.60 annualized dividend and a dividend yield of 4.67%. Ryman Hospitality Properties's dividend payout ratio (DPR) is presently 97.46%.

Analyst Upgrades and Downgrades

RHP has been the topic of several research reports. Bank of America lifted their target price on Ryman Hospitality Properties from $105.00 to $110.00 and gave the stock a "buy" rating in a report on Monday, July 21st. Wells Fargo & Company lifted their target price on Ryman Hospitality Properties from $101.00 to $108.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. Truist Financial reduced their target price on Ryman Hospitality Properties from $127.00 to $120.00 and set a "buy" rating on the stock in a report on Friday, May 30th. Wedbush set a $110.00 target price on Ryman Hospitality Properties and gave the stock an "outperform" rating in a report on Tuesday, May 6th. Finally, Jefferies Financial Group reduced their target price on Ryman Hospitality Properties from $118.00 to $100.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $114.75.

Insider Activity at Ryman Hospitality Properties

In related news, Director Alvin L. Bowles, Jr. sold 1,300 shares of the business's 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 sale, the director owned 2,576 shares in the company, valued at approximately $255,049.76. The trade was a 33.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Colin V. Reed purchased 8,356 shares of the stock in a transaction that occurred on 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 acquisition, the chairman directly owned 870,406 shares of the company's stock, valued at $84,359,749.52. This trade represents a 0.97% increase in their position. The disclosure for this purchase can be found here. 5.00% of the stock is owned by insiders.

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.