Ryman Hospitality Properties, Inc. $RHP Stock Position Cut by Hamlin Capital Management LLC

Key Points

• Hamlin Capital Management reduced its Ryman Hospitality Properties stake by 1.7%, selling 16,945 shares and retaining 967,273 shares worth approximately $115.6 million. Institutional investors collectively own 94.48% of the REIT.
• Ryman reported quarterly earnings of $1.42 per share, beating estimates of $1.31, while revenue rose 13.6% year over year to $748.98 million.
• The company declared a quarterly dividend of $1.20, equivalent to an annualized $4.80 payout and a 4.0% yield. Analysts maintain a consensus “Buy” rating with an average price target of $132.75.

Hamlin Capital Management LLC lessened its holdings in shares of Ryman Hospitality Properties, Inc. (NYSE:RHP - Free Report) by 1.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 967,273 shares of the real estate investment trust's stock after selling 16,945 shares during the quarter. Ryman Hospitality Properties comprises about 2.8% of Hamlin Capital Management LLC's holdings, making the stock its 19th biggest holding. Hamlin Capital Management LLC owned about 1.53% of Ryman Hospitality Properties worth $115,618,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in Ryman Hospitality Properties during the 2nd quarter worth approximately $1,438,737,000. Bank of New York Mellon Corp acquired a new position in shares of Ryman Hospitality Properties in the second quarter worth $78,347,000. Bruni J V & Co. Co. acquired a new position in shares of Ryman Hospitality Properties in the second quarter worth $65,555,872. Diamond Hill Capital Management LLC Investment Advisor purchased a new stake in shares of Ryman Hospitality Properties during the second quarter worth $60,655,000. Finally, Legal & General Group Plc purchased a new stake in shares of Ryman Hospitality Properties during the second quarter worth $52,107,000. Institutional investors and hedge funds own 94.48% of the company's stock.

Ryman Hospitality Properties Stock Up 1.6%

RHP stock traded up $1.89 during trading on Thursday, hitting $121.18. 108,038 shares of the company's stock were exchanged, compared to its average volume of 608,018. The business has a 50-day moving average price of $124.29 and a two-hundred day moving average price of $117.17. The stock has a market capitalization of $7.65 billion, a price-to-earnings ratio of 29.66, a PEG ratio of 1.85 and a beta of 1.22. Ryman Hospitality Properties, Inc. has a 52-week low of $83.82 and a 52-week high of $137.46. 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 (NYSE:RHP - Get Free Report) last released its quarterly earnings data on Friday, August 7th. The real estate investment trust reported $1.42 earnings per share for the quarter, topping analysts' consensus estimates of $1.31 by $0.11. Ryman Hospitality Properties had a net margin of 9.91% and a return on equity of 34.54%. The company had revenue of $748.98 million for the quarter, compared to analysts' expectations of $734.59 million. During the same quarter last year, the company earned $2.35 earnings per share. The firm's revenue for the quarter was up 13.6% on a year-over-year basis. As a group, equities research analysts expect that Ryman Hospitality Properties, Inc. will post 9.23 EPS for the current year.

Ryman Hospitality Properties Dividend Announcement

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

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Wells Fargo & Company boosted their target price on Ryman Hospitality Properties from $126.00 to $136.00 and gave the stock an "overweight" rating in a research note on Thursday, July 23rd. Truist Financial increased their price target on Ryman Hospitality Properties from $132.00 to $141.00 and gave the company a "buy" rating in a research report on Thursday, September 10th. JPMorgan Chase & Co. lifted their price objective on Ryman Hospitality Properties from $113.00 to $129.00 and gave the company an "overweight" rating in a research note on Tuesday, July 21st. Weiss Ratings upgraded shares of Ryman Hospitality Properties from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, August 17th. Finally, BMO Capital Markets reaffirmed an "outperform" rating and issued a $137.00 target price on shares of Ryman Hospitality Properties in a report on Friday, June 12th. Thirteen equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $132.75.

Ryman Hospitality Properties Company Profile

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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