Principal Financial Group Inc. Boosts Stake in Ryman Hospitality Properties, Inc. (NYSE:RHP)

Principal Financial Group Inc. lifted its stake in shares of Ryman Hospitality Properties, Inc. (NYSE:RHP - Free Report) by 6.4% in the first quarter, according to its most recent filing with the SEC. The fund owned 3,462,112 shares of the real estate investment trust's stock after acquiring an additional 207,419 shares during the period. Principal Financial Group Inc. owned approximately 5.77% of Ryman Hospitality Properties worth $316,576,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quantinno Capital Management LP boosted its stake in Ryman Hospitality Properties by 2.2% in the fourth quarter. Quantinno Capital Management LP now owns 4,644 shares of the real estate investment trust's stock worth $485,000 after buying an additional 98 shares in the last quarter. Cetera Investment Advisers lifted its holdings 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 worth $466,000 after acquiring an additional 125 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its holdings 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 worth $350,000 after acquiring an additional 130 shares during the last quarter. Arizona State Retirement System boosted its stake in shares of Ryman Hospitality Properties by 0.8% in the 4th quarter. Arizona State Retirement System now owns 16,515 shares of the real estate investment trust's stock valued at $1,723,000 after purchasing an additional 132 shares in the last quarter. Finally, Summit Global Investments boosted its stake in shares of Ryman Hospitality Properties by 2.1% in the 4th quarter. Summit Global Investments now owns 7,597 shares of the real estate investment trust's stock valued at $793,000 after purchasing an additional 153 shares in the last quarter. 94.48% of the stock is currently owned by hedge funds and other institutional investors.

Ryman Hospitality Properties Stock Down 0.2%

Shares of NYSE:RHP opened at $103.14 on Friday. Ryman Hospitality Properties, Inc. has a 1 year low of $76.27 and a 1 year high of $121.77. The company has a market cap of $6.19 billion, a PE ratio of 21.85, a P/E/G ratio of 2.79 and a beta of 1.57. The company has a debt-to-equity ratio of 5.92, a current ratio of 1.55 and a quick ratio of 1.55. The stock's 50-day moving average is $96.82 and its 200 day moving average is $97.59.

Ryman Hospitality Properties (NYSE:RHP - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The real estate investment trust reported $2.08 earnings per share for the quarter, topping analysts' consensus estimates of $1.79 by $0.29. Ryman Hospitality Properties had a return on equity of 51.95% and a net margin of 12.16%. The firm had revenue of $587.28 million for the quarter, compared to analyst estimates of $546.52 million. During the same period last year, the company earned $1.60 EPS. The business's quarterly revenue was up 11.2% compared to the same quarter last year. Sell-side analysts anticipate that Ryman Hospitality Properties, Inc. will post 8.81 EPS for the current year.

Ryman Hospitality Properties Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be paid a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 4.46%. The ex-dividend date of this dividend is Monday, June 30th. Ryman Hospitality Properties's payout ratio is 97.46%.

Analyst Upgrades and Downgrades

RHP has been the subject of several recent research reports. Jefferies Financial Group lowered their price target on shares of Ryman Hospitality Properties from $118.00 to $100.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Wells Fargo & Company reiterated an "overweight" rating and issued a $101.00 price objective (up previously from $99.00) on shares of Ryman Hospitality Properties in a report on Thursday, May 22nd. JPMorgan Chase & Co. assumed coverage on Ryman Hospitality Properties in a report on Monday, June 23rd. They set an "overweight" rating and a $117.00 target price for the company. Truist Financial decreased their price target on 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. Finally, Evercore ISI lowered their price objective on Ryman Hospitality Properties from $130.00 to $120.00 and set an "outperform" rating for the company in a research report on Monday, April 28th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $114.43.

Insider Transactions at Ryman Hospitality Properties

In other Ryman Hospitality Properties news, 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 transaction, the director owned 2,576 shares in the company, valued at approximately $255,049.76. This represents a 33.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Colin V. Reed bought 8,356 shares of the stock in a transaction dated Monday, June 9th. The stock was purchased at an average price 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 disclosure for this purchase 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.

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