PNC Financial Services Group Inc. Has $1.81 Million Holdings in Ryman Hospitality Properties, Inc. (NYSE:RHP)

Key Points

• PNC Financial Services Group Inc. increased its stake in Ryman Hospitality Properties by 55.6%, acquiring an additional 7,085 shares in the first quarter, bringing its total holdings to 19,823 shares worth $1,813,000.
• Ryman Hospitality Properties reported $659.52 million in revenue for the recent quarter, exceeding analysts' expectations and showcasing a 7.5% year-over-year growth.
• Wall Street analysts have mixed views on Ryman Hospitality Properties, with one downgrade to "sell" and several price target upgrades, leading to a consensus rating of "Moderate Buy" and an average target price of $114.75.

PNC Financial Services Group Inc. boosted its stake in shares of Ryman Hospitality Properties, Inc. (NYSE:RHP - Free Report) by 55.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 19,823 shares of the real estate investment trust's stock after acquiring an additional 7,085 shares during the quarter. PNC Financial Services Group Inc.'s holdings in Ryman Hospitality Properties were worth $1,813,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Heck Capital Advisors LLC bought a new stake in Ryman Hospitality Properties during the 4th quarter worth about $31,000. Fifth Third Bancorp lifted its position in Ryman Hospitality Properties by 175.6% during the 1st 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 during the period. CWM LLC lifted its position in Ryman Hospitality Properties by 213.4% during 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 during the period. Covestor Ltd lifted its position 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 valued at $87,000 after purchasing an additional 207 shares during the period. Finally, FIL Ltd lifted its position in Ryman Hospitality Properties by 44.5% during the 4th quarter. FIL Ltd now owns 929 shares of the real estate investment trust's stock valued at $97,000 after purchasing an additional 286 shares during the period. Institutional investors own 94.48% of the company's stock.

Insider Buying and Selling

In other Ryman Hospitality Properties news, Chairman Colin V. Reed bought 8,356 shares of the stock in a transaction that occurred on Monday, June 9th. The stock was acquired at an average cost of $96.92 per share, with a total value of $809,863.52. Following the purchase, the chairman owned 870,406 shares in the company, valued at $84,359,749.52. This trade represents a 0.97% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Alvin L. Bowles, Jr. sold 1,300 shares of the stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $99.01, for a total value of $128,713.00. Following the sale, the director directly owned 2,576 shares of the company's stock, 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. 5.00% of the stock is currently owned by corporate insiders.

Ryman Hospitality Properties Trading Up 2.8%

Shares of NYSE:RHP traded up $2.64 during mid-day trading on Wednesday, reaching $97.51. The stock had a trading volume of 583,924 shares, compared to its average volume of 662,179. The firm has a market cap of $6.14 billion, a PE ratio of 23.27, a price-to-earnings-growth ratio of 2.19 and a beta of 1.62. The firm has a 50 day simple moving average of $98.74 and a two-hundred day simple moving average of $96.40. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 4.72. Ryman Hospitality Properties, Inc. has a twelve month low of $76.27 and a twelve month high of $121.77.

Ryman Hospitality Properties (NYSE:RHP - Get Free Report) last posted its earnings results 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. Ryman Hospitality Properties had a return on equity of 41.65% and a net margin of 10.74%. The business had revenue of $659.52 million during the quarter, compared to analysts' expectations of $616.56 million. During the same period in the prior year, the business earned $2.78 EPS. Ryman Hospitality Properties's revenue for the quarter was up 7.5% compared to the same quarter last year. On average, research analysts predict that Ryman Hospitality Properties, Inc. will post 8.81 EPS for the current fiscal year.

Wall Street Analyst Weigh In

RHP has been the topic of a number of research reports. 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 report on Friday, May 30th. Bank of America upped their target price on shares of Ryman Hospitality Properties from $105.00 to $110.00 and gave the company a "buy" rating in a research report on Monday, July 21st. Wells Fargo & Company upped 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. Wall Street Zen downgraded shares of Ryman Hospitality Properties from a "hold" rating to a "sell" rating in a research report on Saturday. Finally, Evercore ISI cut their price target on shares of Ryman Hospitality Properties from $130.00 to $120.00 and set an "outperform" rating on the stock in a research report on Monday, April 28th. One research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, Ryman Hospitality Properties currently has an average rating of "Moderate Buy" and an average target price of $114.75.

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.