Millennium Management LLC Lowers Position in Ryman Hospitality Properties, Inc. $RHP

Key Points

• Millennium Management LLC has reduced its stake in Ryman Hospitality Properties by 39.4%, selling 143,125 shares and maintaining ownership of about 220,252 shares, valued at approximately $20.14 million.
• Several institutional investors, including Vanguard Group Inc. and Principal Financial Group Inc., have increased their holdings in Ryman Hospitality Properties, showcasing strong institutional interest.
• Ryman Hospitality Properties reported a quarterly EPS of $2.35, exceeding analysts' estimates, with an increase in revenue of 7.5% year-over-year, indicating positive growth in the lodging and hospitality sector.

Millennium Management LLC lessened its holdings in shares of Ryman Hospitality Properties, Inc. (NYSE:RHP - Free Report) by 39.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 220,252 shares of the real estate investment trust's stock after selling 143,125 shares during the period. Millennium Management LLC owned approximately 0.37% of Ryman Hospitality Properties worth $20,140,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Ryman Hospitality Properties by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,924 shares of the real estate investment trust's stock worth $3,193,000 after purchasing an additional 1,548 shares during the last quarter. AQR Capital Management LLC grew its position in Ryman Hospitality Properties by 131.0% during the first quarter. AQR Capital Management LLC now owns 13,418 shares of the real estate investment trust's stock valued at $1,227,000 after buying an additional 7,610 shares during the period. Amundi grew its position in Ryman Hospitality Properties by 7.6% during the first quarter. Amundi now owns 34,110 shares of the real estate investment trust's stock valued at $2,933,000 after buying an additional 2,419 shares during the period. Dark Forest Capital Management LP grew its position in Ryman Hospitality Properties by 239.2% during the first quarter. Dark Forest Capital Management LP now owns 38,114 shares of the real estate investment trust's stock valued at $3,485,000 after buying an additional 26,877 shares during the period. Finally, Royal Bank of Canada grew its position in Ryman Hospitality Properties by 44.1% during the first quarter. Royal Bank of Canada now owns 39,740 shares of the real estate investment trust's stock valued at $3,634,000 after buying an additional 12,169 shares during the period. Hedge funds and other institutional investors own 94.48% of the company's stock.

Ryman Hospitality Properties Stock Down 0.8%

RHP traded down $0.82 during trading hours on Monday, hitting $99.35. 549,874 shares of the company's stock were exchanged, compared to its average volume of 548,148. Ryman Hospitality Properties, Inc. has a 12-month low of $76.27 and a 12-month high of $121.77. The firm has a 50 day moving average of $98.23 and a 200 day moving average of $95.64. The firm has a market cap of $6.26 billion, a P/E ratio of 23.71, a price-to-earnings-growth ratio of 1.80 and a beta of 1.58. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 4.72.

Ryman Hospitality Properties (NYSE:RHP - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The real estate investment trust reported $2.35 EPS for the quarter, topping the consensus estimate of $2.31 by $0.04. Ryman Hospitality Properties had a net margin of 10.74% and a return on equity of 41.65%. The company had revenue of $659.52 million during the quarter, compared to analysts' expectations of $616.56 million. During the same quarter in the previous year, the business posted $2.78 EPS. The firm's revenue was up 7.5% on a year-over-year basis. Ryman Hospitality Properties has set its FY 2025 guidance at 7.930-8.490 EPS. Analysts predict that Ryman Hospitality Properties, Inc. will post 8.81 EPS for the current fiscal year.

Insider Activity at Ryman Hospitality Properties

In other news, Director H Eric Bolton, Jr. bought 2,000 shares of Ryman Hospitality Properties stock in a transaction dated Thursday, August 14th. The stock was bought at an average price of $95.33 per share, for a total transaction of $190,660.00. Following the purchase, the director owned 2,000 shares of the company's stock, valued at approximately $190,660. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 5.00% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently commented on RHP shares. JPMorgan Chase & Co. started coverage on shares of Ryman Hospitality Properties in a research report on Monday, June 23rd. They set an "overweight" rating and a $117.00 price target on the stock. Bank of America lifted their target price on shares of Ryman Hospitality Properties from $105.00 to $110.00 and gave the company a "buy" rating in a research report on Monday, July 21st. Wall Street Zen lowered shares of Ryman Hospitality Properties from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Wells Fargo & Company lifted their target price on shares of Ryman Hospitality Properties from $108.00 to $114.00 and gave the company an "overweight" rating in a research report on Wednesday, August 27th. Finally, Truist Financial dropped their target price on shares of Ryman Hospitality Properties from $127.00 to $120.00 and set a "buy" rating on the stock in a research report on Friday, May 30th. Eight analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $115.50.

Ryman Hospitality Properties Profile

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.