Nicholas Investment Partners LP Takes Position in Ryman Hospitality Properties, Inc. $RHP

Key Points

• Nicholas Investment Partners LP acquired 58,970 Ryman Hospitality Properties shares worth approximately $7.6 million, giving it a 0.09% stake. Institutional investors collectively own 94.48% of RHP.
• Ryman reported quarterly EPS of $1.42, beating estimates of $1.31, while revenue rose 13.6% year over year to $748.98 million.
• Shares recently traded at $131.13, near their 52-week high, and analysts maintain a consensus “Buy” rating with an average price target of $129.73; several firms recently raised their targets, including Jefferies at $145.

Nicholas Investment Partners LP bought a new position in shares of Ryman Hospitality Properties, Inc. (NYSE:RHP - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 58,970 shares of the real estate investment trust's stock, valued at approximately $7,581,000. Nicholas Investment Partners LP owned approximately 0.09% of Ryman Hospitality Properties at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Royal Bank of Canada raised its position in shares of Ryman Hospitality Properties by 44.1% in the first quarter. Royal Bank of Canada now owns 39,740 shares of the real estate investment trust's stock worth $3,634,000 after buying an additional 12,169 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of Ryman Hospitality Properties by 131.0% during the 1st quarter. AQR Capital Management LLC now owns 13,418 shares of the real estate investment trust's stock valued at $1,227,000 after acquiring an additional 7,610 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Ryman Hospitality Properties by 8.8% during the first quarter. Goldman Sachs Group Inc. now owns 784,970 shares of the real estate investment trust's stock worth $71,778,000 after purchasing an additional 63,507 shares in the last quarter. Jane Street Group LLC grew its holdings in shares of Ryman Hospitality Properties by 306.5% during the first quarter. Jane Street Group LLC now owns 36,162 shares of the real estate investment trust's stock worth $3,307,000 after purchasing an additional 27,267 shares in the last quarter. Finally, Geneos Wealth Management Inc. increased its position in shares of Ryman Hospitality Properties by 240.2% in the first quarter. Geneos Wealth Management Inc. now owns 296 shares of the real estate investment trust's stock worth $27,000 after purchasing an additional 209 shares during the last quarter. 94.48% of the stock is owned by institutional investors.

Ryman Hospitality Properties Stock Up 2.0%

Shares of RHP opened at $131.13 on Tuesday. The firm has a market cap of $8.28 billion, a P/E ratio of 32.06, a P/E/G ratio of 2.27 and a beta of 1.20. The stock has a 50 day simple moving average of $127.56 and a two-hundred day simple moving average of $111.61. The company has a debt-to-equity ratio of 5.02, a current ratio of 1.34 and a quick ratio of 1.34. Ryman Hospitality Properties, Inc. has a 1 year low of $83.82 and a 1 year high of $137.46.

Ryman Hospitality Properties (NYSE:RHP - Get Free Report) last announced its quarterly earnings data on Friday, August 7th. The real estate investment trust reported $1.42 earnings per share for the quarter, topping analysts' consensus estimates of $1.31 by $0.11. The firm had revenue of $748.98 million during the quarter, compared to analyst estimates of $734.59 million. Ryman Hospitality Properties had a net margin of 9.91% and a return on equity of 34.54%. The business's quarterly revenue was up 13.6% on a year-over-year basis. During the same period in the previous year, the business posted $2.35 EPS. On average, analysts forecast that Ryman Hospitality Properties, Inc. will post 9.18 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

RHP has been the topic of a number of recent analyst reports. Morgan Stanley raised their target price on shares of Ryman Hospitality Properties from $105.00 to $112.00 and gave the company an "overweight" rating in a research note on Tuesday, May 12th. Barclays boosted their price target on shares of Ryman Hospitality Properties from $120.00 to $130.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 21st. Truist Financial increased their price target on shares of Ryman Hospitality Properties from $129.00 to $132.00 and gave the stock a "buy" rating in a report on Tuesday, May 26th. Weiss Ratings upgraded shares of Ryman Hospitality Properties from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, August 17th. Finally, Jefferies Financial Group reaffirmed a "buy" rating and set a $145.00 price objective on shares of Ryman Hospitality Properties in a report on Wednesday, August 12th. Twelve investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $129.73.

Ryman Hospitality Properties Profile

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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