Phocas Financial Corp. Lowers Stock Holdings 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. lowered its holdings in shares of Ryman Hospitality Properties, Inc. (NYSE:RHP - Free Report) by 5.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 84,888 shares of the real estate investment trust's stock after selling 4,831 shares during the period. Ryman Hospitality Properties makes up 1.2% of Phocas Financial Corp.'s holdings, making the stock its 22nd largest position. Phocas Financial Corp. owned approximately 0.14% of Ryman Hospitality Properties worth $7,762,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of RHP. Janus Henderson Group PLC lifted its holdings in Ryman Hospitality Properties by 946.6% during the 4th quarter. Janus Henderson Group PLC now owns 502,983 shares of the real estate investment trust's stock worth $52,455,000 after buying an additional 454,922 shares in the last quarter. Norges Bank bought a new position in shares of Ryman Hospitality Properties in the 4th quarter valued at about $29,448,000. Adelante Capital Management LLC grew its holdings in shares of Ryman Hospitality Properties by 340.1% in the 4th quarter. Adelante Capital Management LLC now owns 348,890 shares of the real estate investment trust's stock valued at $36,403,000 after acquiring an additional 269,623 shares in the last quarter. Raymond James Financial Inc. bought a new position in Ryman Hospitality Properties during the fourth quarter worth about $23,995,000. Finally, Principal Financial Group Inc. lifted its position in Ryman Hospitality Properties by 6.4% during the first quarter. Principal Financial Group Inc. now owns 3,462,112 shares of the real estate investment trust's stock worth $316,576,000 after acquiring an additional 207,419 shares during the last quarter. 94.48% of the stock is currently owned by institutional investors and hedge funds.

Ryman Hospitality Properties Stock Down 1.1%

Shares of RHP traded down $1.02 during trading on Thursday, reaching $93.40. The company's stock had a trading volume of 159,739 shares, compared to its average volume of 817,594. Ryman Hospitality Properties, Inc. has a twelve month low of $76.27 and a twelve month high of $121.77. The company has a quick ratio of 1.55, a current ratio of 1.63 and a debt-to-equity ratio of 4.72. The company has a market cap of $5.60 billion, a price-to-earnings ratio of 22.28, a P/E/G ratio of 2.16 and a beta of 1.62. The company has a fifty day moving average of $99.03 and a two-hundred day moving average of $96.74.

Ryman Hospitality Properties (NYSE:RHP - Get Free Report) last issued its quarterly earnings data 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. The business 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 firm's revenue was up 7.5% compared to the same quarter last year. During the same period last year, the business earned $2.78 EPS. On average, sell-side analysts predict that Ryman Hospitality Properties, Inc. will post 8.81 EPS 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 $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date of this dividend was Monday, June 30th. Ryman Hospitality Properties's dividend payout ratio (DPR) is presently 97.46%.

Analysts Set New Price Targets

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

Insider Buying and Selling

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

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.