Phocas Financial Corp. Has $7.76 Million Position in Ryman Hospitality Properties, Inc. (NYSE:RHP)

Key Points

• Phocas Financial Corp. has reduced its stake in Ryman Hospitality Properties, Inc. by 5.4%, owning approximately $7.76 million in shares after selling 4,831 during the first quarter.
• A number of other institutional investors have increased their holdings in Ryman, with Principal Financial Group raising its stake by 6.4% to become one of the largest shareholders.
• Ryman Hospitality Properties announced a quarterly dividend of $1.15 per share, resulting in an annualized dividend yield of 5.0%, despite a high payout ratio of 97.46%.

Phocas Financial Corp. decreased its position in shares of Ryman Hospitality Properties, Inc. (NYSE:RHP - Free Report) by 5.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 84,888 shares of the real estate investment trust's stock after selling 4,831 shares during the quarter. Ryman Hospitality Properties accounts for approximately 1.2% of Phocas Financial Corp.'s investment portfolio, making the stock its 22nd largest holding. Phocas Financial Corp. owned 0.14% of Ryman Hospitality Properties worth $7,762,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Heck Capital Advisors LLC acquired a new position in shares of Ryman Hospitality Properties in the 4th quarter valued at $31,000. Fifth Third Bancorp lifted its holdings in shares of Ryman Hospitality Properties by 175.6% in the 1st quarter. Fifth Third Bancorp now owns 576 shares of the real estate investment trust's stock valued at $53,000 after buying an additional 367 shares during the period. CWM LLC increased its stake in Ryman Hospitality Properties by 213.4% in the 1st quarter. CWM LLC now owns 724 shares of the real estate investment trust's stock valued at $66,000 after purchasing an additional 493 shares in the last quarter. Covestor Ltd grew its position in shares of Ryman Hospitality Properties by 33.3% in the fourth quarter. Covestor Ltd now owns 829 shares of the real estate investment trust's stock valued at $87,000 after purchasing an additional 207 shares during the period. Finally, FIL Ltd lifted its stake 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 worth $97,000 after purchasing an additional 286 shares in the last quarter. 94.48% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on RHP. Wedbush set a $110.00 target price on Ryman Hospitality Properties and gave the stock an "outperform" rating in a research report on Tuesday, May 6th. Jefferies Financial Group lowered their target price on shares of Ryman Hospitality Properties from $118.00 to $100.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Wells Fargo & Company boosted their target price on shares of Ryman Hospitality Properties from $101.00 to $108.00 and gave the company an "overweight" rating in a report on Tuesday, July 15th. Evercore ISI cut their price objective on shares of Ryman Hospitality Properties from $130.00 to $120.00 and set an "outperform" rating for the company in a report on Monday, April 28th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Ryman Hospitality Properties in a research note on Monday, June 23rd. They set an "overweight" rating and a $117.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Ryman Hospitality Properties has a consensus rating of "Moderate Buy" and an average price target of $114.75.

Ryman Hospitality Properties Price Performance

RHP traded down $1.80 during trading on Tuesday, hitting $91.24. The company's stock had a trading volume of 452,964 shares, compared to its average volume of 810,993. 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. The firm's 50 day moving average price is $99.14 and its two-hundred day moving average price is $96.78. The stock has a market capitalization of $5.47 billion, a price-to-earnings ratio of 19.19, a price-to-earnings-growth ratio of 2.13 and a beta of 1.62.

Ryman Hospitality Properties (NYSE:RHP - Get Free Report) last issued its earnings results on Monday, August 4th. The real estate investment trust reported $2.35 earnings per share for the quarter, beating analysts' consensus estimates of $2.31 by $0.04. Ryman Hospitality Properties had a return on equity of 51.95% and a net margin of 12.16%. The firm had revenue of $659.52 million for the quarter, compared to the consensus estimate of $616.56 million. During the same quarter last year, the business posted $2.78 EPS. The company's revenue was up 7.5% compared to the same quarter last year. Sell-side analysts forecast 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 disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were given 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 5.0%. Ryman Hospitality Properties's payout ratio is presently 97.46%.

Insiders Place Their Bets

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

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.