Ryman Hospitality Properties, Inc. $RHP Shares Sold by Principal Financial Group Inc.

Key Points

• Principal Financial Group trimmed its stake in Ryman Hospitality (RHP) by 20.7% in Q4, selling 636,582 shares and now holds 2,436,378 shares (~3.87%) valued at about $230.5 million.
• Analysts maintain a consensus Buy rating with an average price target of $115.78 after multiple firms raised price targets and reiterated overweight/buy views.
• Ryman pays a quarterly dividend of $1.20 (annualized $4.80) for a 4.4% yield, but the payout ratio is high at 126.65%, which could raise sustainability concerns.

Principal Financial Group Inc. trimmed its position in shares of Ryman Hospitality Properties, Inc. (NYSE:RHP - Free Report) by 20.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,436,378 shares of the real estate investment trust's stock after selling 636,582 shares during the period. Principal Financial Group Inc. owned approximately 3.87% of Ryman Hospitality Properties worth $230,531,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. First Dallas Securities Inc. boosted its holdings in Ryman Hospitality Properties by 103.9% during the 3rd quarter. First Dallas Securities Inc. now owns 26,050 shares of the real estate investment trust's stock valued at $2,334,000 after acquiring an additional 13,275 shares during the period. Centersquare Investment Management LLC increased its stake in Ryman Hospitality Properties by 37.3% during the third quarter. Centersquare Investment Management LLC now owns 52,590 shares of the real estate investment trust's stock worth $4,712,000 after purchasing an additional 14,296 shares during the period. Hamlin Capital Management LLC lifted its position in shares of Ryman Hospitality Properties by 10.5% during the third quarter. Hamlin Capital Management LLC now owns 987,976 shares of the real estate investment trust's stock worth $88,513,000 after purchasing an additional 93,490 shares in the last quarter. Bayforest Capital Ltd acquired a new stake in shares of Ryman Hospitality Properties during the third quarter worth about $776,000. Finally, Bessemer Group Inc. boosted its stake in shares of Ryman Hospitality Properties by 21.4% in the third quarter. Bessemer Group Inc. now owns 318,888 shares of the real estate investment trust's stock valued at $28,570,000 after purchasing an additional 56,189 shares during the period. 94.48% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RHP has been the subject of a number of research reports. Barclays lifted their price objective on shares of Ryman Hospitality Properties from $109.00 to $110.00 and gave the company an "overweight" rating in a report on Tuesday, April 7th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $131.00 price target on shares of Ryman Hospitality Properties in a research report on Tuesday, January 13th. Weiss Ratings raised Ryman Hospitality Properties from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, April 22nd. Wells Fargo & Company increased their price objective on Ryman Hospitality Properties from $105.00 to $114.00 and gave the company an "overweight" rating in a research note on Wednesday, April 22nd. Finally, Cantor Fitzgerald lifted their target price on Ryman Hospitality Properties from $108.00 to $115.00 and gave the company an "overweight" rating in a report on Tuesday, March 3rd. Ten research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $115.78.

Ryman Hospitality Properties Stock Up 2.6%

Shares of Ryman Hospitality Properties stock opened at $108.10 on Wednesday. The company has a quick ratio of 1.46, a current ratio of 1.35 and a debt-to-equity ratio of 5.15. Ryman Hospitality Properties, Inc. has a 52-week low of $83.82 and a 52-week high of $109.94. The company has a market capitalization of $6.82 billion, a P/E ratio of 28.52, a P/E/G ratio of 2.23 and a beta of 1.22. The company has a 50 day moving average of $97.40 and a 200 day moving average of $95.55.

Ryman Hospitality Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were given a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend was Tuesday, March 31st. Ryman Hospitality Properties's payout ratio is 126.65%.

Ryman Hospitality Properties Profile

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.

Want to see what other hedge funds are holding RHP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ryman Hospitality Properties, Inc. (NYSE:RHP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.