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

Key Points

• OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in Ryman Hospitality Properties, valued at approximately $1.54 million, by purchasing 16,800 shares in the first quarter.
• Ryman Hospitality Properties reported a quarterly earnings per share (EPS) of $2.08, exceeding the consensus estimate of $1.79, along with an 11.2% year-over-year increase in revenue.
• The company declared a quarterly dividend of $1.15 per share, resulting in an annualized dividend yield of 5.0% and a high dividend payout ratio of 97.46%.

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

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Heck Capital Advisors LLC purchased a new position in shares of Ryman Hospitality Properties during the 4th quarter worth about $31,000. Fifth Third Bancorp boosted its stake in shares of Ryman Hospitality Properties by 175.6% during the first quarter. Fifth Third Bancorp now owns 576 shares of the real estate investment trust's stock valued at $53,000 after purchasing an additional 367 shares in the last quarter. CWM LLC raised its holdings in Ryman Hospitality Properties by 213.4% in the first quarter. CWM LLC now owns 724 shares of the real estate investment trust's stock worth $66,000 after purchasing an additional 493 shares in the last quarter. Covestor Ltd grew its stake in Ryman Hospitality Properties by 33.3% during the 4th quarter. Covestor Ltd now owns 829 shares of the real estate investment trust's stock worth $87,000 after buying an additional 207 shares during the last quarter. Finally, FIL Ltd grew its holdings in shares of Ryman Hospitality Properties by 44.5% during the fourth quarter. FIL Ltd now owns 929 shares of the real estate investment trust's stock valued at $97,000 after buying an additional 286 shares during the last quarter. 94.48% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Wells Fargo & Company lifted their target price 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, July 15th. JPMorgan Chase & Co. assumed coverage on Ryman Hospitality Properties in a research note on Monday, June 23rd. They issued an "overweight" rating and a $117.00 price objective for the company. Jefferies Financial Group dropped their price objective on Ryman Hospitality Properties from $118.00 to $100.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Truist Financial lowered their target price on shares of Ryman Hospitality Properties from $127.00 to $120.00 and set a "buy" rating for the company in a research note on Friday, May 30th. Finally, Bank of America raised their price target on shares of Ryman Hospitality Properties from $105.00 to $110.00 and gave the company a "buy" rating in a report on Monday, July 21st. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $114.75.

Insider Activity

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

Ryman Hospitality Properties Stock Down 1.2%

RHP traded down $1.11 during trading on Thursday, reaching $93.30. The stock had a trading volume of 100,968 shares, compared to its average volume of 817,224. The stock's 50 day moving average is $99.03 and its two-hundred day moving average is $96.74. The company has a current ratio of 1.63, a quick ratio of 1.55 and a debt-to-equity ratio of 4.72. Ryman Hospitality Properties, Inc. has a one year low of $76.27 and a one year high of $121.77. The company has a market capitalization of $5.60 billion, a price-to-earnings ratio of 22.35, a P/E/G ratio of 2.16 and a beta of 1.62.

Ryman Hospitality Properties (NYSE:RHP - Get Free Report) last released its earnings results on Monday, August 4th. The real estate investment trust reported $2.35 earnings per share for the quarter, beating the consensus estimate of $2.31 by $0.04. The firm had revenue of $659.52 million for the quarter, compared to the consensus estimate of $616.56 million. Ryman Hospitality Properties had a return on equity of 41.65% and a net margin of 10.74%. The company's revenue for the quarter was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.78 EPS. As a group, analysts expect that Ryman Hospitality Properties, Inc. will post 8.81 earnings per share for the current year.

Ryman Hospitality Properties Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were paid a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 4.9%. The ex-dividend date of this dividend was Monday, June 30th. Ryman Hospitality Properties's dividend payout ratio (DPR) is 97.46%.

Ryman Hospitality Properties Company 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.