M&T Bank Corp Takes $1.24 Million Position in Ryman Hospitality Properties, Inc. $RHP

Key Points

• M&T Bank Corp opened a new position in Ryman Hospitality Properties (NYSE: RHP) in Q4, acquiring 13,057 shares valued at about $1.24 million per its latest 13F filing.
• Ryman pays a quarterly dividend of $1.20 (annualized $4.80) for a yield of 4.6%, but the payout ratio is high at 127.66%, which could raise sustainability concerns.
• Wall Street sentiment is broadly positive: the stock has a consensus rating of "Buy" with a consensus price target of $115, following several recent analyst upgrades and raised targets.

M&T Bank Corp acquired a new stake in Ryman Hospitality Properties, Inc. (NYSE:RHP - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 13,057 shares of the real estate investment trust's stock, valued at approximately $1,235,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Caitong International Asset Management Co. Ltd boosted its stake in shares of Ryman Hospitality Properties by 61.7% in the third quarter. Caitong International Asset Management Co. Ltd now owns 296 shares of the real estate investment trust's stock worth $27,000 after acquiring an additional 113 shares during the last quarter. Norinchukin Bank The boosted its stake in shares of Ryman Hospitality Properties by 4.2% in the third quarter. Norinchukin Bank The now owns 2,978 shares of the real estate investment trust's stock worth $267,000 after acquiring an additional 119 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Ryman Hospitality Properties by 11.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,311 shares of the real estate investment trust's stock worth $117,000 after acquiring an additional 130 shares during the last quarter. Dakota Wealth Management boosted its stake in shares of Ryman Hospitality Properties by 1.5% in the third quarter. Dakota Wealth Management now owns 9,015 shares of the real estate investment trust's stock worth $808,000 after acquiring an additional 135 shares during the last quarter. Finally, Hunter Associates Investment Management LLC boosted its stake in shares of Ryman Hospitality Properties by 1.4% in the fourth quarter. Hunter Associates Investment Management LLC now owns 10,536 shares of the real estate investment trust's stock worth $1,003,000 after acquiring an additional 145 shares during the last quarter. 94.48% of the stock is currently owned by hedge funds and other institutional investors.

Ryman Hospitality Properties Price Performance

RHP stock opened at $103.70 on Thursday. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 5.04. The company has a market capitalization of $6.54 billion, a PE ratio of 27.58, a P/E/G ratio of 1.93 and a beta of 1.19. Ryman Hospitality Properties, Inc. has a 12-month low of $83.82 and a 12-month high of $105.75. The business's fifty day moving average price is $97.29 and its 200 day moving average price is $95.28.

Ryman Hospitality Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were issued a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 4.6%. The ex-dividend date was Tuesday, March 31st. Ryman Hospitality Properties's payout ratio is currently 127.66%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Evercore reaffirmed an "outperform" rating and issued a $115.00 price target on shares of Ryman Hospitality Properties in a research note on Friday, February 6th. Weiss Ratings raised Ryman Hospitality Properties from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, April 22nd. Truist Financial boosted their price objective on Ryman Hospitality Properties from $121.00 to $129.00 and gave the stock a "buy" rating in a research note on Thursday, March 26th. Barclays boosted their price objective on Ryman Hospitality Properties from $109.00 to $110.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 7th. Finally, Cantor Fitzgerald boosted their price objective on Ryman Hospitality Properties from $108.00 to $115.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 3rd. Eleven research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $115.00.

About Ryman Hospitality Properties

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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