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

Key Points

• Principal Financial Group cut its stake in Ryman Hospitality Properties by 14% in the first quarter, selling 342,092 shares and leaving it with 2,094,286 shares valued at about $193.2 million.
• The company declared a quarterly dividend of $1.20 per share, payable July 15, for an annualized dividend of $4.80 and a yield of 3.9%; however, the payout ratio is high at 126.65%.
• Wall Street remains generally positive on RHP, with 11 buy ratings and one hold rating, and a consensus target price of $122.27, even as shares recently traded around $123.93.

Principal Financial Group Inc. lowered its holdings in Ryman Hospitality Properties, Inc. (NYSE:RHP - Free Report) by 14.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,094,286 shares of the real estate investment trust's stock after selling 342,092 shares during the quarter. Principal Financial Group Inc. owned 3.32% of Ryman Hospitality Properties worth $193,241,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. State Street Corp increased its position in shares of Ryman Hospitality Properties by 0.6% during the 2nd quarter. State Street Corp now owns 3,375,908 shares of the real estate investment trust's stock worth $336,901,000 after purchasing an additional 20,756 shares during the last quarter. Geode Capital Management LLC lifted its position in Ryman Hospitality Properties by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 1,588,492 shares of the real estate investment trust's stock valued at $150,327,000 after buying an additional 11,591 shares during the last quarter. Cooke & Bieler LP lifted its position in Ryman Hospitality Properties by 12.8% in the fourth quarter. Cooke & Bieler LP now owns 1,251,144 shares of the real estate investment trust's stock valued at $118,383,000 after buying an additional 142,206 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Ryman Hospitality Properties by 2.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,156,004 shares of the real estate investment trust's stock worth $109,381,000 after buying an additional 33,120 shares during the period. Finally, Hamlin Capital Management LLC boosted its stake in Ryman Hospitality Properties by 4.2% during the fourth quarter. Hamlin Capital Management LLC now owns 1,029,740 shares of the real estate investment trust's stock worth $97,434,000 after buying an additional 41,764 shares during the period. Institutional investors and hedge funds own 94.48% of the company's stock.

Ryman Hospitality Properties Stock Performance

Shares of RHP stock opened at $123.93 on Wednesday. The company has a quick ratio of 1.35, 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 $132.41. The stock has a market capitalization of $7.82 billion, a PE ratio of 32.70, a P/E/G ratio of 2.25 and a beta of 1.20. The firm has a 50 day moving average of $119.10 and a two-hundred day moving average of $104.81.

Ryman Hospitality Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be paid a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 3.9%. The ex-dividend date is Tuesday, June 30th. Ryman Hospitality Properties's dividend payout ratio (DPR) is presently 126.65%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Barclays boosted their price target on shares of Ryman Hospitality Properties from $110.00 to $120.00 and gave the company an "overweight" rating in a research note on Monday, June 1st. BMO Capital Markets reaffirmed an "outperform" rating and set a $137.00 price objective on shares of Ryman Hospitality Properties in a research report on Friday, June 12th. 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 report on Tuesday, May 26th. JPMorgan Chase & Co. boosted their target price on Ryman Hospitality Properties from $111.00 to $113.00 and gave the company an "overweight" rating in a research report on Tuesday, May 5th. Finally, Weiss Ratings cut Ryman Hospitality Properties from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday, May 6th. Eleven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $122.27.

Ryman Hospitality Properties Company 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.

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