Maryland State Retirement & Pension System Purchases Shares of 17,457 Ryman Hospitality Properties, Inc. (NYSE:RHP)

Key Points

• The Maryland State Retirement & Pension System acquired 17,457 shares of Ryman Hospitality Properties, Inc. for approximately $1,596,000 during the first quarter.
• Ryman Hospitality Properties reported a quarterly EPS of $2.35, exceeding expectations and indicating a 7.5% increase in revenue compared to the previous year.
• Institutional investors currently own 94.48% of Ryman Hospitality Properties, with several hedge funds increasing their positions significantly in the first quarter.

Maryland State Retirement & Pension System acquired a new position in Ryman Hospitality Properties, Inc. (NYSE:RHP - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 17,457 shares of the real estate investment trust's stock, valued at approximately $1,596,000.

Several other hedge funds have also bought and sold shares of the stock. LPL Financial LLC raised its stake in shares of Ryman Hospitality Properties by 144.4% during the 4th quarter. LPL Financial LLC now owns 16,538 shares of the real estate investment trust's stock worth $1,726,000 after buying an additional 9,770 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in shares of Ryman Hospitality Properties by 9.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 11,473 shares of the real estate investment trust's stock worth $1,197,000 after buying an additional 1,015 shares during the period. Wells Fargo & Company MN raised its stake in shares of Ryman Hospitality Properties by 28.1% during the 4th quarter. Wells Fargo & Company MN now owns 72,149 shares of the real estate investment trust's stock worth $7,528,000 after buying an additional 15,814 shares during the period. Envestnet Asset Management Inc. increased its position in shares of Ryman Hospitality Properties by 22.4% during the fourth quarter. Envestnet Asset Management Inc. now owns 65,586 shares of the real estate investment trust's stock worth $6,843,000 after purchasing an additional 12,006 shares in the last quarter. Finally, Cerity Partners LLC increased its position in shares of Ryman Hospitality Properties by 2.8% during the fourth quarter. Cerity Partners LLC now owns 8,140 shares of the real estate investment trust's stock worth $851,000 after purchasing an additional 221 shares in the last quarter. Hedge funds and other institutional investors own 94.48% of the company's stock.

Ryman Hospitality Properties Trading Up 0.1%

Shares of NYSE RHP traded up $0.10 during mid-day trading on Wednesday, reaching $94.97. 47,964 shares of the company's stock were exchanged, compared to its average volume of 810,645. The firm has a market capitalization of $5.98 billion, a price-to-earnings ratio of 22.72, a PEG ratio of 2.12 and a beta of 1.62. The company has a debt-to-equity ratio of 4.72, a quick ratio of 1.63 and a current ratio of 1.63. Ryman Hospitality Properties, Inc. has a 52-week low of $76.27 and a 52-week high of $121.77. The company's 50-day moving average is $98.72 and its 200-day moving average is $96.39.

Ryman Hospitality Properties (NYSE:RHP - Get Free Report) last posted its earnings results on Monday, August 4th. The real estate investment trust reported $2.35 earnings per share (EPS) 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 firm had revenue of $659.52 million for the quarter, compared to analyst estimates of $616.56 million. During the same quarter in the prior year, the company earned $2.78 EPS. Ryman Hospitality Properties's revenue was up 7.5% on a year-over-year basis. Analysts expect that Ryman Hospitality Properties, Inc. will post 8.81 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts recently commented on RHP shares. Wall Street Zen cut Ryman Hospitality Properties from a "hold" rating to a "sell" rating in a research report on Saturday. Wedbush set a $110.00 price target on Ryman Hospitality Properties and gave the stock an "outperform" rating in a research report on Tuesday, May 6th. Evercore ISI dropped their price target on Ryman Hospitality Properties from $130.00 to $120.00 and set an "outperform" rating for the company in a research report on Monday, April 28th. Truist Financial dropped their target price on Ryman Hospitality Properties from $127.00 to $120.00 and set a "buy" rating for the company in a report on Friday, May 30th. Finally, Bank of America upped their target price on Ryman Hospitality Properties from $105.00 to $110.00 and gave the company a "buy" rating in a report on Monday, July 21st. One equities research analyst has rated the stock with a sell rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $114.75.

Insider Activity

In related news, Director Alvin L. Bowles, Jr. sold 1,300 shares of the stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $99.01, for a total transaction of $128,713.00. Following the transaction, the director owned 2,576 shares of the company's stock, valued at approximately $255,049.76. This represents a 33.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Colin V. Reed purchased 8,356 shares of Ryman Hospitality Properties stock in a transaction on Monday, June 9th. The stock was bought at an average cost of $96.92 per share, for a total transaction of $809,863.52. Following the transaction, the chairman directly owned 870,406 shares in the company, valued at $84,359,749.52. This represents a 0.97% increase in their ownership of the stock. The disclosure for this purchase can be found here. 5.00% of the stock is currently owned by corporate 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.