OVERSEA CHINESE BANKING Corp Ltd Makes New Investment in Ryman Hospitality Properties, Inc. (NYSE:RHP)

OVERSEA CHINESE BANKING Corp Ltd bought a new position in shares of Ryman Hospitality Properties, Inc. (NYSE:RHP - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 16,800 shares of the real estate investment trust's stock, valued at approximately $1,536,000.

A number of other large investors have also recently added to or reduced their stakes in RHP. PNC Financial Services Group Inc. lifted its position in shares of Ryman Hospitality Properties by 369.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 12,738 shares of the real estate investment trust's stock valued at $1,329,000 after acquiring an additional 10,025 shares in the last quarter. HighTower Advisors LLC purchased a new stake in shares of Ryman Hospitality Properties in the 4th quarter valued at approximately $262,000. Avantax Advisory Services Inc. lifted its position in shares of Ryman Hospitality Properties by 3.1% in the 4th quarter. Avantax Advisory Services Inc. now owns 8,033 shares of the real estate investment trust's stock valued at $838,000 after acquiring an additional 238 shares in the last quarter. Swiss National Bank lifted its position in shares of Ryman Hospitality Properties by 0.7% in the 4th quarter. Swiss National Bank now owns 111,900 shares of the real estate investment trust's stock valued at $11,676,000 after acquiring an additional 800 shares in the last quarter. Finally, Cibc World Markets Corp purchased a new stake in shares of Ryman Hospitality Properties in the 4th quarter valued at approximately $573,000. 94.48% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on RHP. JPMorgan Chase & Co. began coverage on shares of Ryman Hospitality Properties in a research report on Monday, June 23rd. They issued an "overweight" rating and a $117.00 price target for the company. Truist Financial reduced their price target on shares of Ryman Hospitality Properties from $127.00 to $120.00 and set a "buy" rating for the company in a research report on Friday, May 30th. Wells Fargo & Company upped their price target on shares of Ryman Hospitality Properties from $101.00 to $108.00 and gave the company an "overweight" rating in a research report on Tuesday. Jefferies Financial Group reduced their price target on shares of Ryman Hospitality Properties from $118.00 to $100.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Finally, Evercore ISI cut their target price on shares of Ryman Hospitality Properties from $130.00 to $120.00 and set an "outperform" rating for the company in a research report on Monday, April 28th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Ryman Hospitality Properties currently has an average rating of "Moderate Buy" and a consensus price target of $115.43.

Ryman Hospitality Properties Stock Down 1.3%

RHP stock traded down $1.32 during midday trading on Friday, reaching $99.70. The company had a trading volume of 412,196 shares, compared to its average volume of 671,290. Ryman Hospitality Properties, Inc. has a 1 year low of $76.27 and a 1 year high of $121.77. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 5.92. The company has a market capitalization of $5.98 billion, a P/E ratio of 21.14, a PEG ratio of 2.74 and a beta of 1.57. The company has a 50 day moving average of $99.10 and a two-hundred day moving average of $97.31.

Ryman Hospitality Properties (NYSE:RHP - Get Free Report) last released its earnings results on Thursday, May 1st. The real estate investment trust reported $2.08 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.79 by $0.29. The company had revenue of $587.28 million during the quarter, compared to the consensus estimate of $546.52 million. Ryman Hospitality Properties had a net margin of 12.16% and a return on equity of 51.95%. The company's revenue was up 11.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.60 EPS. On average, equities research analysts expect that Ryman Hospitality Properties, Inc. will post 8.81 earnings per share for the current fiscal year.

Ryman Hospitality Properties Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were issued a dividend of $1.15 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 4.61%. Ryman Hospitality Properties's dividend payout ratio is currently 97.46%.

Insiders Place Their Bets

In other Ryman Hospitality Properties news, Chairman Colin V. Reed purchased 8,356 shares of the business's stock in a transaction dated Monday, June 9th. The shares were acquired at an average price of $96.92 per share, for a total transaction of $809,863.52. Following the acquisition, the chairman owned 870,406 shares of the company's stock, valued at $84,359,749.52. This trade represents a 0.97% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed 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 transaction, the director owned 2,576 shares in the company, valued at $255,049.76. This represents a 33.54% decrease in their position. The disclosure for this sale can be found here. 5.00% of the stock is currently owned by company insiders.

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.