Reinhart Partners LLC. Sells 203,980 Shares of Ryman Hospitality Properties, Inc. $RHP

Key Points

• Reinhart Partners cut its Ryman Hospitality Properties stake by 28.7%, selling 203,980 shares and retaining 506,898 shares worth approximately $60.6 million. Institutional investors collectively own 94.48% of RHP.
• Analysts remain bullish, with all 13 covering analysts rating the stock a Buy and the consensus price target at $132.75; several firms recently raised their targets to between $137 and $147.
• Ryman reported quarterly revenue of $748.98 million and EPS of $1.42, exceeding estimates, while revenue increased 13.6% year over year. The company also declared a $1.20 quarterly dividend, representing a 4.0% annualized yield.

Reinhart Partners LLC. decreased its position in shares of Ryman Hospitality Properties, Inc. (NYSE:RHP - Free Report) by 28.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 506,898 shares of the real estate investment trust's stock after selling 203,980 shares during the quarter. Reinhart Partners LLC. owned 0.80% of Ryman Hospitality Properties worth $60,590,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of Ryman Hospitality Properties during the second quarter valued at $1,438,737,000. Dimensional Fund Advisors LP boosted its holdings in shares of Ryman Hospitality Properties by 2.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 913,107 shares of the real estate investment trust's stock valued at $84,251,000 after acquiring an additional 18,614 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Ryman Hospitality Properties in the second quarter worth approximately $78,347,000. Bruni J V & Co. Co. purchased a new position in shares of Ryman Hospitality Properties during the second quarter valued at approximately $65,555,872. Finally, Diamond Hill Capital Management LLC Investment Advisor bought a new position in Ryman Hospitality Properties during the second quarter valued at approximately $60,655,000. Institutional investors own 94.48% of the company's stock.

Analyst Ratings Changes

RHP has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lifted their target price on shares of Ryman Hospitality Properties from $113.00 to $129.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 21st. Jefferies Financial Group reiterated a "buy" rating and set a $145.00 price objective on shares of Ryman Hospitality Properties in a research report on Wednesday, August 12th. Truist Financial raised their target price on Ryman Hospitality Properties from $132.00 to $141.00 and gave the stock a "buy" rating in a research report on Thursday, September 10th. BMO Capital Markets restated an "outperform" rating and set a $137.00 price target on shares of Ryman Hospitality Properties in a research note on Friday, June 12th. Finally, Barclays upped their price target on shares of Ryman Hospitality Properties from $130.00 to $147.00 and gave the company an "overweight" rating in a research report on Thursday, August 27th. Thirteen equities research analysts have rated the stock with a Buy rating. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $132.75.

Ryman Hospitality Properties Stock Performance

NYSE:RHP opened at $120.44 on Friday. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 5.02. Ryman Hospitality Properties, Inc. has a 12-month low of $83.82 and a 12-month high of $137.46. The stock has a 50-day moving average price of $123.75 and a 200 day moving average price of $117.40. The stock has a market capitalization of $7.60 billion, a P/E ratio of 29.45, a P/E/G ratio of 1.83 and a beta of 1.22.

Ryman Hospitality Properties (NYSE:RHP - Get Free Report) last issued its earnings results on Friday, August 7th. The real estate investment trust reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.11. Ryman Hospitality Properties had a return on equity of 34.54% and a net margin of 9.91%. The company had revenue of $748.98 million for the quarter, compared to the consensus estimate of $734.59 million. During the same quarter last year, the company earned $2.35 EPS. The firm's quarterly revenue was up 13.6% on a year-over-year basis. Equities research analysts forecast that Ryman Hospitality Properties, Inc. will post 9.23 EPS for the current fiscal year.

Ryman Hospitality Properties Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be issued a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend is Wednesday, September 30th. Ryman Hospitality Properties's payout ratio is 117.36%.

About Ryman Hospitality Properties

Ryman Hospitality Properties, Inc NYSE: RHP is a real estate investment trust focused on owning and operating high-quality lodging and entertainment assets. The company's portfolio is centered on large-scale convention center resorts that serve group, business and leisure travelers, with properties designed to combine accommodations, meeting space, dining, retail and entertainment.

Ryman's flagship hospitality portfolio operates under the Gaylord Hotels brand and includes destination resorts in markets such as Nashville, Tennessee; Orlando, Florida; the Dallas-Fort Worth area; the Washington, DC, area; and the Denver area.

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