OVERSEA CHINESE BANKING Corp Ltd Takes Position 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) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 16,800 shares of the real estate investment trust's stock, valued at approximately $1,536,000.

A number of other hedge funds also recently made changes to their positions in RHP. Quantinno Capital Management LP increased its position in shares of Ryman Hospitality Properties by 2.2% during the 4th quarter. Quantinno Capital Management LP now owns 4,644 shares of the real estate investment trust's stock worth $485,000 after purchasing an additional 98 shares in the last quarter. Cetera Investment Advisers boosted its stake in shares of Ryman Hospitality Properties by 2.9% in the 4th quarter. Cetera Investment Advisers now owns 4,469 shares of the real estate investment trust's stock valued at $466,000 after purchasing an additional 125 shares during the last quarter. Oppenheimer Asset Management Inc. raised its position in shares of Ryman Hospitality Properties by 3.5% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 3,828 shares of the real estate investment trust's stock valued at $350,000 after acquiring an additional 130 shares during the period. Brown Advisory Inc. raised its position in shares of Ryman Hospitality Properties by 6.5% in the 1st quarter. Brown Advisory Inc. now owns 2,503 shares of the real estate investment trust's stock valued at $229,000 after acquiring an additional 153 shares during the period. Finally, Beacon Investment Advisors LLC raised its holdings in Ryman Hospitality Properties by 0.5% during the 4th quarter. Beacon Investment Advisors LLC now owns 30,466 shares of the real estate investment trust's stock worth $3,179,000 after buying an additional 155 shares during the period. Institutional investors and hedge funds own 94.48% of the company's stock.

Analysts Set New Price Targets

RHP has been the topic of several research analyst reports. JPMorgan Chase & Co. assumed coverage on shares of Ryman Hospitality Properties in a report on Monday, June 23rd. They set an "overweight" rating and a $117.00 target price on the stock. Truist Financial reduced their price objective 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. Wedbush set a $110.00 target price on shares of Ryman Hospitality Properties and gave the company an "outperform" rating in a research report on Tuesday, May 6th. Bank of America boosted their price target 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, Wells Fargo & Company boosted their target price on Ryman Hospitality Properties from $101.00 to $108.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 15th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $114.75.

Ryman Hospitality Properties Trading Down 2.7%

Ryman Hospitality Properties stock traded down $2.55 during mid-day trading on Tuesday, hitting $90.49. 377,102 shares of the stock were exchanged, compared to its average volume of 810,419. The firm's fifty day simple moving average is $99.14 and its two-hundred day simple moving average is $96.78. The stock has a market capitalization of $5.43 billion, a price-to-earnings ratio of 19.16, a PEG ratio of 2.13 and a beta of 1.62. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 5.92. Ryman Hospitality Properties, Inc. has a 12 month low of $76.27 and a 12 month high of $121.77.

Ryman Hospitality Properties (NYSE:RHP - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The real estate investment trust reported $2.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 net margin of 12.16% and a return on equity of 51.95%. The business's revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.78 EPS. Analysts forecast that Ryman Hospitality Properties, Inc. will post 8.81 EPS for the current year.

Ryman Hospitality Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were paid a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 5.1%. The ex-dividend date was Monday, June 30th. Ryman Hospitality Properties's payout ratio is currently 97.46%.

Insider Transactions at Ryman Hospitality Properties

In other Ryman Hospitality Properties news, Chairman Colin V. Reed acquired 8,356 shares of the business's stock in a transaction dated Monday, June 9th. The stock was bought at an average price 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 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 purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Alvin L. Bowles, Jr. sold 1,300 shares of the business's stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $99.01, for a total value of $128,713.00. Following the transaction, the director directly owned 2,576 shares of the company's stock, valued at $255,049.76. The trade was a 33.54% decrease in their position. The disclosure for this sale can be found here. Insiders own 5.00% of the company's stock.

Ryman Hospitality Properties 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.