Penn Capital Management Company LLC Sells 23,392 Shares of Ryman Hospitality Properties, Inc. $RHP

Key Points

• Penn Capital sold 23,392 shares, trimming its position by 14.7% in Q3 to 136,082 shares worth about $12.22 million (a 0.22% stake in RHP).
• Ryman declared a $1.20 quarterly dividend (annualized $4.80) payable April 15 to holders of record March 31, implying a 5.2% yield while the payout ratio is a high 127.66%.
• Analysts have a consensus rating of “Moderate Buy” with an average target of $110.82 (10 Buys, 2 Holds), and institutional investors own roughly 94.48% of the stock.

Penn Capital Management Company LLC cut its holdings in Ryman Hospitality Properties, Inc. (NYSE:RHP - Free Report) by 14.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 136,082 shares of the real estate investment trust's stock after selling 23,392 shares during the period. Penn Capital Management Company LLC owned 0.22% of Ryman Hospitality Properties worth $12,221,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Cornerstone Planning Group LLC lifted its position in Ryman Hospitality Properties by 2,241.7% during the third quarter. Cornerstone Planning Group LLC now owns 281 shares of the real estate investment trust's stock valued at $25,000 after purchasing an additional 269 shares during the last quarter. Hantz Financial Services Inc. boosted its holdings in Ryman Hospitality Properties by 283.1% during the 3rd quarter. Hantz Financial Services Inc. now owns 295 shares of the real estate investment trust's stock valued at $26,000 after acquiring an additional 218 shares during the period. Caitong International Asset Management Co. Ltd increased its stake in Ryman Hospitality Properties by 61.7% in the third quarter. Caitong International Asset Management Co. Ltd now owns 296 shares of the real estate investment trust's stock worth $27,000 after purchasing an additional 113 shares during the period. Geneos Wealth Management Inc. lifted its position in shares of Ryman Hospitality Properties by 240.2% during 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. Finally, Aster Capital Management DIFC Ltd purchased a new position in shares of Ryman Hospitality Properties during the third quarter worth approximately $40,000. 94.48% of the stock is currently owned by hedge funds and other institutional investors.

Ryman Hospitality Properties Trading Up 0.5%

NYSE RHP opened at $91.90 on Wednesday. The stock has a market capitalization of $5.79 billion, a PE ratio of 24.44, a price-to-earnings-growth ratio of 1.76 and a beta of 1.18. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 5.04. The firm has a 50 day moving average of $96.97 and a two-hundred day moving average of $94.86. Ryman Hospitality Properties, Inc. has a 52 week low of $76.27 and a 52 week high of $105.75.

Ryman Hospitality Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be given a $1.20 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $4.80 dividend on an annualized basis and a yield of 5.2%. Ryman Hospitality Properties's dividend payout ratio (DPR) is presently 127.66%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on RHP shares. Barclays set a $109.00 price objective on Ryman Hospitality Properties in a research report on Tuesday, January 13th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $131.00 price objective on shares of Ryman Hospitality Properties in a research note on Tuesday, January 13th. Evercore reissued an "outperform" rating and issued a $115.00 price objective on shares of Ryman Hospitality Properties in a report on Friday, February 6th. Weiss Ratings reissued a "hold (c)" rating on shares of Ryman Hospitality Properties in a research note on Wednesday, January 28th. Finally, Truist Financial lifted their target price on shares of Ryman Hospitality Properties from $120.00 to $121.00 and gave the stock a "buy" rating in a research note on Thursday, December 4th. Ten investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $110.82.

Ryman Hospitality Properties Company 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.

Want to see what other hedge funds are holding RHP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ryman Hospitality Properties, Inc. (NYSE:RHP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.