Raymond James Financial Inc. Acquires 100,223 Shares of Ryman Hospitality Properties, Inc. $RHP

Key Points

• Raymond James Financial Inc. increased its stake in Ryman Hospitality Properties by 43.6%, acquiring an additional 100,223 shares, bringing its total ownership to 330,196 shares worth approximately $30.2 million.
• Ryman Hospitality Properties reported an earnings per share (EPS) of $2.35 for the last quarter, exceeding analysts' expectations, alongside revenue of $659.52 million which also surpassed forecasts.
• Wall Street analysts have a consensus rating of "Buy" for Ryman Hospitality Properties, with an average price target of $114.75 per share, indicating positive sentiment toward the stock's future performance.

Raymond James Financial Inc. lifted its position in Ryman Hospitality Properties, Inc. (NYSE:RHP - Free Report) by 43.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 330,196 shares of the real estate investment trust's stock after purchasing an additional 100,223 shares during the quarter. Raymond James Financial Inc. owned 0.55% of Ryman Hospitality Properties worth $30,193,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Heck Capital Advisors LLC acquired a new position 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 worth $53,000 after buying an additional 367 shares in the last quarter. 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 worth $66,000 after buying an additional 493 shares in the last quarter. GF Fund Management CO. LTD. acquired a new position in Ryman Hospitality Properties during the 4th quarter worth about $108,000. Finally, State of Wyoming lifted its position in Ryman Hospitality Properties by 23.8% during the 4th quarter. State of Wyoming now owns 1,561 shares of the real estate investment trust's stock worth $163,000 after buying an additional 300 shares in the last quarter. Institutional investors and hedge funds own 94.48% of the company's stock.

Insider Activity at Ryman Hospitality Properties

In other news, Chairman Colin V. Reed purchased 8,356 shares of the business's stock in a transaction that occurred on Monday, June 9th. The shares were acquired at an average cost of $96.92 per share, for a total transaction of $809,863.52. Following the transaction, the chairman directly owned 870,406 shares of the company's stock, valued at approximately $84,359,749.52. The trade was a 0.97% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at 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 shares were sold at an average price of $99.01, for a total transaction of $128,713.00. Following the completion of the sale, the director owned 2,576 shares in the company, valued at $255,049.76. This represents 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 Down 0.2%

Shares of NYSE:RHP traded down $0.20 during mid-day trading on Friday, reaching $98.73. The stock had a trading volume of 331,048 shares, compared to its average volume of 675,691. The firm has a market cap of $6.22 billion, a PE ratio of 23.56, a price-to-earnings-growth ratio of 1.78 and a beta of 1.62. The firm has a 50 day simple moving average of $98.49 and a two-hundred day simple moving average of $95.71. 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 announced its quarterly 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. 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 net margin of 10.74% and a return on equity of 41.65%. Ryman Hospitality Properties's revenue for the quarter was up 7.5% on a year-over-year basis. During the same period last year, the company posted $2.78 EPS. Ryman Hospitality Properties has set its FY 2025 guidance at 7.930-8.490 EPS. On average, research analysts predict that Ryman Hospitality Properties, Inc. will post 8.81 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently issued reports on RHP. Wells Fargo & Company upped their price target on shares of Ryman Hospitality Properties from $108.00 to $114.00 and gave the stock an "overweight" rating in a research report on Wednesday. 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. 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. Wedbush set a $110.00 target price on shares of Ryman Hospitality Properties and gave the company an "outperform" rating in a research report on Tuesday, May 6th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Ryman Hospitality Properties in a research report on Monday, June 23rd. They set an "overweight" rating and a $117.00 target price on the stock. Eight equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $115.50.

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.