Nuveen LLC Takes $67.90 Million Position in Ryman Hospitality Properties, Inc. (NYSE:RHP)

Key Points

• Nuveen LLC has acquired a significant stake worth approximately $67.9 million in Ryman Hospitality Properties by purchasing 742,579 shares, representing about 1.24% of the company.
• Ryman Hospitality Properties' stock traded up by 2.8%, reaching a value of $97.51, with a recent annual performance featuring a low of $76.27 and a high of $121.77.
• Despite a recent downgrade from Wall Street Zen, analysts maintain a positive outlook, with 8 out of 9 rating the stock as a "buy" and an average target price of $114.75.

Nuveen LLC purchased a new stake in shares of Ryman Hospitality Properties, Inc. (NYSE:RHP - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 742,579 shares of the real estate investment trust's stock, valued at approximately $67,901,000. Nuveen LLC owned about 1.24% of Ryman Hospitality Properties as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Invesco Ltd. increased its position in shares of Ryman Hospitality Properties by 56.3% during the 1st quarter. Invesco Ltd. now owns 168,601 shares of the real estate investment trust's stock valued at $15,417,000 after purchasing an additional 60,713 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Ryman Hospitality Properties by 3.7% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 41,023 shares of the real estate investment trust's stock valued at $3,751,000 after purchasing an additional 1,456 shares during the last quarter. Maryland State Retirement & Pension System purchased a new stake in shares of Ryman Hospitality Properties during the 1st quarter valued at about $1,596,000. Charles Schwab Investment Management Inc. increased its position in shares of Ryman Hospitality Properties by 1.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 991,048 shares of the real estate investment trust's stock valued at $90,621,000 after purchasing an additional 11,872 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Ryman Hospitality Properties by 7.3% during the 1st quarter. Vanguard Group Inc. now owns 8,899,258 shares of the real estate investment trust's stock valued at $813,748,000 after purchasing an additional 603,936 shares during the last quarter. Hedge funds and other institutional investors own 94.48% of the company's stock.

Insiders Place Their Bets

In other Ryman Hospitality Properties news, Chairman Colin V. Reed bought 8,356 shares of the business's stock in a transaction that occurred on Monday, June 9th. The stock was purchased at an average cost of $96.92 per share, with a total value of $809,863.52. Following the completion of the acquisition, the chairman owned 870,406 shares in the company, valued at $84,359,749.52. This trade represents a 0.97% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Alvin L. Bowles, Jr. sold 1,300 shares of the firm's stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $99.01, for a total transaction of $128,713.00. Following the completion of the transaction, the director directly owned 2,576 shares of the company's stock, valued at approximately $255,049.76. This trade represents a 33.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 5.00% of the company's stock.

Ryman Hospitality Properties Trading Up 2.8%

RHP stock opened at $97.51 on Thursday. Ryman Hospitality Properties, Inc. has a 1-year low of $76.27 and a 1-year high of $121.77. The company has a debt-to-equity ratio of 4.72, a current ratio of 1.63 and a quick ratio of 1.63. The company has a market capitalization of $6.14 billion, a price-to-earnings ratio of 23.27, a PEG ratio of 2.19 and a beta of 1.62. The business has a 50 day simple moving average of $98.74 and a two-hundred day simple moving average of $96.40.

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 earnings per share 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 business had revenue of $659.52 million during the quarter, compared to the consensus estimate of $616.56 million. During the same period in the prior year, the company posted $2.78 EPS. The firm's revenue for the quarter was up 7.5% compared to the same quarter last year. Research analysts anticipate that Ryman Hospitality Properties, Inc. will post 8.81 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on RHP shares. Evercore ISI cut their price objective on Ryman Hospitality Properties from $130.00 to $120.00 and set an "outperform" rating for the company in a research note on Monday, April 28th. Wall Street Zen downgraded Ryman Hospitality Properties from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Wells Fargo & Company boosted their price objective on Ryman Hospitality Properties from $101.00 to $108.00 and gave the company an "overweight" rating in a research note on Tuesday, July 15th. Bank of America boosted their price objective on Ryman Hospitality Properties from $105.00 to $110.00 and gave the company a "buy" rating in a research note on Monday, July 21st. Finally, JPMorgan Chase & Co. started coverage on Ryman Hospitality Properties in a research note on Monday, June 23rd. They set an "overweight" rating and a $117.00 price objective for the company. One analyst has rated the stock with a sell rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $114.75.

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.

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