Sumitomo Mitsui Trust Group Inc. Acquires 10,917 Shares of Ryman Hospitality Properties, Inc. (NYSE:RHP)

Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Ryman Hospitality Properties, Inc. (NYSE:RHP - Free Report) by 13.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 94,412 shares of the real estate investment trust's stock after buying an additional 10,917 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.16% of Ryman Hospitality Properties worth $8,633,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the business. JPMorgan Chase & Co. boosted its position in Ryman Hospitality Properties by 10.7% in the fourth quarter. JPMorgan Chase & Co. now owns 1,439,719 shares of the real estate investment trust's stock valued at $150,220,000 after buying an additional 138,771 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Ryman Hospitality Properties by 1.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 979,176 shares of the real estate investment trust's stock valued at $102,167,000 after buying an additional 14,861 shares during the period. Nuveen Asset Management LLC lifted its stake in shares of Ryman Hospitality Properties by 0.6% in the 4th quarter. Nuveen Asset Management LLC now owns 936,712 shares of the real estate investment trust's stock valued at $97,737,000 after purchasing an additional 5,807 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in Ryman Hospitality Properties by 2.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 853,251 shares of the real estate investment trust's stock valued at $89,028,000 after buying an additional 24,439 shares during the period. Finally, Deutsche Bank AG raised its stake in Ryman Hospitality Properties by 4.0% during the 4th quarter. Deutsche Bank AG now owns 852,624 shares of the real estate investment trust's stock worth $88,963,000 after buying an additional 32,518 shares during the period. 94.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Chairman Colin V. Reed bought 8,356 shares of the business's stock in a transaction that occurred on Monday, June 9th. The shares were acquired at an average cost of $96.92 per share, with a total value of $809,863.52. Following the completion of the purchase, the chairman directly owned 870,406 shares in the company, valued at $84,359,749.52. The trade was a 0.97% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Alvin L. Bowles, Jr. sold 1,300 shares of the stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $99.01, for a total transaction of $128,713.00. Following the transaction, the director directly owned 2,576 shares in the company, valued at approximately $255,049.76. This represents a 33.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have commented on RHP shares. Wells Fargo & Company restated an "overweight" rating and set a $101.00 target price (up from $99.00) on shares of Ryman Hospitality Properties in a report on Thursday, May 22nd. Evercore ISI lowered their target price on shares of Ryman Hospitality Properties from $130.00 to $120.00 and set an "outperform" rating on the stock in a report on Monday, April 28th. Wedbush set a $110.00 price target on Ryman Hospitality Properties and gave the stock an "outperform" rating in a research report on Tuesday, May 6th. JPMorgan Chase & Co. started coverage on Ryman Hospitality Properties in a research note on Monday, June 23rd. They set an "overweight" rating and a $117.00 target price on the stock. Finally, Truist Financial lowered their target price on shares of Ryman Hospitality Properties from $127.00 to $120.00 and set a "buy" rating on the stock in a report on Friday, May 30th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, Ryman Hospitality Properties has a consensus rating of "Moderate Buy" and an average price target of $114.43.

Ryman Hospitality Properties Price Performance

Ryman Hospitality Properties stock traded down $1.61 during midday trading on Monday, reaching $101.53. The company's stock had a trading volume of 399,633 shares, compared to its average volume of 668,779. The stock has a market cap of $6.09 billion, a PE ratio of 21.51, a price-to-earnings-growth ratio of 2.78 and a beta of 1.57. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 5.92. The business has a 50-day moving average price of $97.43 and a 200-day moving average price of $97.40. Ryman Hospitality Properties, Inc. has a 52 week low of $76.27 and a 52 week high of $121.77.

Ryman Hospitality Properties (NYSE:RHP - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The real estate investment trust reported $2.08 earnings per share for the quarter, topping the consensus estimate of $1.79 by $0.29. Ryman Hospitality Properties had a return on equity of 51.95% and a net margin of 12.16%. The company had revenue of $587.28 million for the quarter, compared to analysts' expectations of $546.52 million. During the same period in the previous year, the business posted $1.60 earnings per share. The business's quarterly revenue was up 11.2% compared to the same quarter last year. On average, sell-side analysts predict that Ryman Hospitality Properties, Inc. will post 8.81 EPS for the current year.

Ryman Hospitality Properties Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a dividend of $1.15 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $4.60 dividend on an annualized basis and a yield of 4.53%. Ryman Hospitality Properties's dividend payout ratio (DPR) is currently 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.