Vestcor Inc Increases Position in Ryman Hospitality Properties, Inc. (NYSE:RHP)

Key Points

• Vestcor Inc increased its holdings in Ryman Hospitality Properties by 134.9%, reaching a total of 34,242 shares valued at approximately $3.13 million as of the latest SEC filing.
• Ryman Hospitality Properties reported earnings of $2.08 per share for the last quarter, surpassing expectations and showing an 11.2% increase in quarterly revenue year-over-year.
• The company declared a quarterly dividend of $1.15 per share, which reflects an annual dividend yield of 4.75%.

Vestcor Inc raised its stake in shares of Ryman Hospitality Properties, Inc. (NYSE:RHP - Free Report) by 134.9% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 34,242 shares of the real estate investment trust's stock after purchasing an additional 19,663 shares during the period. Vestcor Inc owned 0.06% of Ryman Hospitality Properties worth $3,131,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Heck Capital Advisors LLC bought a new position in shares of Ryman Hospitality Properties in the fourth quarter worth about $31,000. Fifth Third Bancorp boosted its stake in Ryman Hospitality Properties by 175.6% during the first quarter. Fifth Third Bancorp now owns 576 shares of the real estate investment trust's stock valued at $53,000 after buying an additional 367 shares during the last quarter. CWM LLC boosted its stake in Ryman Hospitality Properties by 213.4% during the first quarter. CWM LLC now owns 724 shares of the real estate investment trust's stock valued at $66,000 after buying an additional 493 shares during the last quarter. Covestor Ltd boosted its stake in Ryman Hospitality Properties by 33.3% during the fourth quarter. Covestor Ltd now owns 829 shares of the real estate investment trust's stock valued at $87,000 after buying an additional 207 shares during the last quarter. Finally, FIL Ltd boosted its stake in Ryman Hospitality Properties by 44.5% during the fourth quarter. FIL Ltd now owns 929 shares of the real estate investment trust's stock valued at $97,000 after buying an additional 286 shares during the last quarter. Institutional investors own 94.48% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on RHP. Wedbush set a $110.00 price target on Ryman Hospitality Properties and gave the company an "outperform" rating in a research note on Tuesday, May 6th. Truist Financial dropped their price target on Ryman Hospitality Properties from $127.00 to $120.00 and set a "buy" rating for the company in a research note on Friday, May 30th. Bank of America upped their price objective on Ryman Hospitality Properties from $105.00 to $110.00 and gave the company a "buy" rating in a research report on Monday, July 21st. Jefferies Financial Group decreased their price objective on 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. Finally, Wells Fargo & Company upped their price objective on Ryman Hospitality Properties from $101.00 to $108.00 and gave the company an "overweight" rating in a research report on Tuesday, July 15th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $114.75.

Insiders Place Their Bets

In other news, Chairman Colin V. Reed bought 8,356 shares of Ryman Hospitality Properties stock in a transaction that occurred on Monday, June 9th. The stock was bought at an average price of $96.92 per share, for a total transaction of $809,863.52. Following the purchase, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, 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 value of $128,713.00. Following the completion of the transaction, the director owned 2,576 shares of the company's stock, valued at $255,049.76. This trade represents a 33.54% decrease in their position. The disclosure for this sale can be found here. 5.00% of the stock is owned by company insiders.

Ryman Hospitality Properties Trading Down 2.3%

RHP traded down $2.18 during trading on Friday, hitting $92.88. 655,776 shares of the stock were exchanged, compared to its average volume of 489,826. The firm has a 50 day simple moving average of $99.17 and a 200 day simple moving average of $96.89. The firm has a market cap of $5.57 billion, a price-to-earnings ratio of 19.68, a P/E/G ratio of 2.13 and a beta of 1.62. Ryman Hospitality Properties, Inc. has a 1 year low of $76.27 and a 1 year high of $121.77. The company has a debt-to-equity ratio of 5.92, a quick ratio of 1.55 and a current ratio of 1.55.

Ryman Hospitality Properties (NYSE:RHP - Get Free Report) last announced its earnings results on Thursday, May 1st. The real estate investment trust reported $2.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.79 by $0.29. The business had revenue of $587.28 million for the quarter, compared to analysts' expectations of $546.52 million. Ryman Hospitality Properties had a return on equity of 51.95% and a net margin of 12.16%. The business's revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.60 EPS. As a group, equities analysts expect that Ryman Hospitality Properties, Inc. will post 8.81 EPS for the current year.

Ryman Hospitality Properties Dividend Announcement

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. The ex-dividend date of this dividend was Monday, June 30th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 5.0%. Ryman Hospitality Properties's dividend payout ratio (DPR) is presently 97.46%.

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.