Millennium Management LLC lessened its stake in Ryman Hospitality Properties, Inc. (NYSE:RHP - Free Report) by 43.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 363,377 shares of the real estate investment trust's stock after selling 274,252 shares during the quarter. Millennium Management LLC owned approximately 0.61% of Ryman Hospitality Properties worth $37,915,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in the stock. Principal Financial Group Inc. boosted its holdings in shares of Ryman Hospitality Properties by 3.2% in the 4th quarter. Principal Financial Group Inc. now owns 3,254,693 shares of the real estate investment trust's stock valued at $339,596,000 after buying an additional 101,333 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Ryman Hospitality Properties by 10.7% in the 4th quarter. JPMorgan Chase & Co. now owns 1,439,719 shares of the real estate investment trust's stock valued at $150,220,000 after buying an additional 138,771 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Ryman Hospitality Properties by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 979,176 shares of the real estate investment trust's stock valued at $102,167,000 after buying an additional 14,861 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Ryman Hospitality Properties by 2.9% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 853,251 shares of the real estate investment trust's stock valued at $89,028,000 after buying an additional 24,439 shares during the last quarter. Finally, Deutsche Bank AG boosted its holdings in shares of Ryman Hospitality Properties by 4.0% in the 4th quarter. Deutsche Bank AG now owns 852,624 shares of the real estate investment trust's stock valued at $88,963,000 after buying an additional 32,518 shares during the last quarter. Institutional investors and hedge funds own 94.48% of the company's stock.
Ryman Hospitality Properties Stock Performance
RHP stock traded down $0.99 during trading hours on Friday, hitting $94.38. 542,061 shares of the stock were exchanged, compared to its average volume of 638,960. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 6.07. The firm has a market capitalization of $5.66 billion, a P/E ratio of 21.50, a P/E/G ratio of 2.71 and a beta of 1.55. The company has a 50-day simple moving average of $90.87 and a two-hundred day simple moving average of $100.91. Ryman Hospitality Properties, Inc. has a 12 month low of $76.27 and a 12 month high of $121.77.
Ryman Hospitality Properties (NYSE:RHP - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The real estate investment trust reported $2.08 earnings per share for the quarter, topping the consensus estimate of $1.79 by $0.29. The firm had revenue of $587.28 million for the quarter, compared to analysts' expectations of $546.52 million. Ryman Hospitality Properties had a return on equity of 49.23% and a net margin of 11.61%. The company's quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter last year, the business earned $1.60 EPS. On average, analysts forecast that Ryman Hospitality Properties, Inc. will post 8.81 earnings per share for the current fiscal year.
Ryman Hospitality Properties Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 4.87%. The ex-dividend date is Monday, June 30th. Ryman Hospitality Properties's payout ratio is 97.46%.
Insiders Place Their Bets
In related news, Director Alvin L. Bowles, Jr. sold 473 shares of the firm's stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $97.03, for a total value of $45,895.19. Following the transaction, the director now owns 2,675 shares in the company, valued at approximately $259,555.25. This trade represents a 15.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Colin V. Reed purchased 8,231 shares of the firm's stock in a transaction that occurred on Wednesday, February 26th. The stock was bought at an average price of $97.54 per share, for a total transaction of $802,851.74. Following the transaction, the chairman now directly owns 832,260 shares of the company's stock, valued at $81,178,640.40. This trade represents a 1.00% increase in their position. The disclosure for this purchase can be found here. Company insiders own 5.00% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities research analysts recently weighed in on the company. Wells Fargo & Company restated an "overweight" rating and issued a $101.00 price target (up previously from $99.00) on shares of Ryman Hospitality Properties in a research note on Thursday. Wall Street Zen upgraded Ryman Hospitality Properties from a "sell" rating to a "hold" rating in a research note on Saturday, March 1st. Jefferies Financial Group dropped their price target on Ryman Hospitality Properties from $118.00 to $100.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Truist Financial dropped their price target on Ryman Hospitality Properties from $133.00 to $127.00 and set a "buy" rating on the stock in a research note on Friday, March 21st. Finally, Evercore ISI dropped their price target on Ryman Hospitality Properties from $130.00 to $120.00 and set an "outperform" rating on the stock in a research note on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $113.00.
Get Our Latest Analysis on Ryman Hospitality Properties
About Ryman Hospitality Properties
(
Free Report)
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.
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