Ryman Hospitality Properties, Inc. $RHP Holdings Raised by Adelante Capital Management LLC

Key Points

• Adelante Capital Management increased its Ryman Hospitality Properties stake by 18.7% in the first quarter, reaching 218,849 shares valued at approximately $20.2 million. Institutional investors collectively own 94.48% of RHP.
• Analysts remain broadly bullish, with 10 Buy ratings and one Hold rating producing a consensus “Moderate Buy” recommendation and an average price target of $127.10.
• RHP shares opened at $135.93, near their 52-week high of $136.21. The REIT recently paid a quarterly dividend of $1.20, equivalent to an annualized $4.80 dividend and a 3.5% yield.

Adelante Capital Management LLC raised its stake in shares of Ryman Hospitality Properties, Inc. (NYSE:RHP - Free Report) by 18.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 218,849 shares of the real estate investment trust's stock after buying an additional 34,451 shares during the period. Ryman Hospitality Properties comprises about 1.3% of Adelante Capital Management LLC's investment portfolio, making the stock its 21st biggest holding. Adelante Capital Management LLC owned 0.35% of Ryman Hospitality Properties worth $20,193,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Inspire Investing LLC boosted its position in Ryman Hospitality Properties by 2.0% during the first quarter. Inspire Investing LLC now owns 5,564 shares of the real estate investment trust's stock valued at $513,000 after purchasing an additional 111 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its stake in shares of Ryman Hospitality Properties by 61.7% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 296 shares of the real estate investment trust's stock worth $27,000 after purchasing an additional 113 shares in the last quarter. Norinchukin Bank The lifted its holdings in shares of Ryman Hospitality Properties by 4.2% during the 3rd quarter. Norinchukin Bank The now owns 2,978 shares of the real estate investment trust's stock valued at $267,000 after buying an additional 119 shares during the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of Ryman Hospitality Properties by 0.4% during the 1st quarter. Janney Montgomery Scott LLC now owns 32,296 shares of the real estate investment trust's stock valued at $2,980,000 after buying an additional 124 shares during the last quarter. Finally, Lido Advisors LLC grew its stake in shares of Ryman Hospitality Properties by 3.1% in the 4th quarter. Lido Advisors LLC now owns 4,332 shares of the real estate investment trust's stock valued at $397,000 after buying an additional 132 shares in the last quarter. 94.48% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on RHP shares. Truist Financial lifted their target price on shares of Ryman Hospitality Properties from $129.00 to $132.00 and gave the company a "buy" rating in a research note on Tuesday, May 26th. Raymond James Financial restated an "outperform" rating and set a $125.00 price target on shares of Ryman Hospitality Properties in a research note on Monday, June 8th. Morgan Stanley raised their price target on shares of Ryman Hospitality Properties from $105.00 to $112.00 and gave the company an "overweight" rating in a report on Tuesday, May 12th. Cantor Fitzgerald lifted their price objective on shares of Ryman Hospitality Properties from $115.00 to $124.00 and gave the company an "overweight" rating in a research note on Wednesday, May 13th. Finally, Wells Fargo & Company upped their price objective on shares of Ryman Hospitality Properties from $126.00 to $136.00 and gave the stock an "overweight" rating in a report on Thursday, July 23rd. Ten research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $127.10.

Ryman Hospitality Properties Stock Performance

NYSE:RHP opened at $135.93 on Wednesday. The firm has a market capitalization of $8.58 billion, a PE ratio of 35.86, a PEG ratio of 2.42 and a beta of 1.20. Ryman Hospitality Properties, Inc. has a 1 year low of $83.82 and a 1 year high of $136.21. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 5.15. The firm's fifty day simple moving average is $123.43 and its 200 day simple moving average is $107.24.

Ryman Hospitality Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a $1.20 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.5%. Ryman Hospitality Properties's payout ratio is presently 126.65%.

About Ryman Hospitality Properties

Ryman Hospitality Properties, Inc is a publicly traded real estate investment trust (REIT) specializing in the ownership and operation of group‐oriented, large convention center hotel resorts. The company's portfolio is anchored by its Gaylord Hotels brand, offering integrated resort, convention, entertainment and dining experiences under long‐term management agreements with Marriott International.

Ryman's flagship properties include Gaylord Opryland Resort & Convention Center in Nashville, Gaylord Texan Resort & Convention Center near Dallas/Fort Worth and Gaylord Palms Resort & Convention Center in Orlando, Florida.

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