Teachers Retirement System of The State of Kentucky grew its position in Ryman Hospitality Properties, Inc. (NYSE:RHP - Free Report) by 68.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 38,883 shares of the real estate investment trust's stock after purchasing an additional 15,800 shares during the quarter. Teachers Retirement System of The State of Kentucky owned about 0.06% of Ryman Hospitality Properties worth $3,556,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its stake in Ryman Hospitality Properties by 6.4% during the 1st quarter. Principal Financial Group Inc. now owns 3,462,112 shares of the real estate investment trust's stock valued at $316,576,000 after acquiring an additional 207,419 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Ryman Hospitality Properties by 10.7% in the 4th quarter. JPMorgan Chase & Co. now owns 1,439,719 shares of the real estate investment trust's stock valued at $150,220,000 after purchasing an additional 138,771 shares in the last quarter. Nuveen Asset Management LLC grew its position 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 buying an additional 5,807 shares during the last quarter. Cooke & Bieler LP grew its position in shares of Ryman Hospitality Properties by 25.9% in the 1st quarter. Cooke & Bieler LP now owns 902,874 shares of the real estate investment trust's stock valued at $82,559,000 after buying an additional 185,880 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in shares of Ryman Hospitality Properties by 4.5% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 892,018 shares of the real estate investment trust's stock valued at $81,566,000 after buying an additional 38,767 shares during the last quarter. Hedge funds and other institutional investors own 94.48% of the company's stock.
Insider Transactions at Ryman Hospitality Properties
In related news, Director Alvin L. Bowles, Jr. sold 1,300 shares of Ryman Hospitality Properties stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $99.01, for a total value of $128,713.00. Following the transaction, the director directly owned 2,576 shares of the company's stock, valued at $255,049.76. The trade was a 33.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Colin V. Reed bought 8,356 shares of the stock in a transaction on Monday, June 9th. The stock was acquired at an average price of $96.92 per share, with a total value of $809,863.52. Following the completion of the acquisition, the chairman owned 870,406 shares of the company's stock, valued at $84,359,749.52. This represents a 0.97% increase in their position. The disclosure for this purchase can be found here. Company insiders own 5.00% of the company's stock.
Wall Street Analysts Forecast Growth
RHP has been the topic of a number of research analyst reports. Wells Fargo & Company boosted their price objective on shares of Ryman Hospitality Properties from $101.00 to $108.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. Jefferies Financial Group decreased their price objective on shares of Ryman Hospitality Properties from $118.00 to $100.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. JPMorgan Chase & Co. initiated coverage on shares of Ryman Hospitality Properties in a report on Monday, June 23rd. They set an "overweight" rating and a $117.00 price objective on the stock. Truist Financial decreased their price objective 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. Finally, Evercore ISI decreased their price objective 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. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Ryman Hospitality Properties has an average rating of "Moderate Buy" and an average price target of $114.75.
Get Our Latest Analysis on Ryman Hospitality Properties
Ryman Hospitality Properties Stock Performance
RHP stock traded up $0.91 during trading hours on Friday, hitting $99.67. 144,554 shares of the stock were exchanged, compared to its average volume of 822,207. 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 firm has a market capitalization of $5.98 billion, a P/E ratio of 21.10, a P/E/G ratio of 2.29 and a beta of 1.57. The company has a 50-day simple moving average of $99.13 and a two-hundred day simple moving average of $97.16. Ryman Hospitality Properties, Inc. has a 12 month low of $76.27 and a 12 month high of $121.77.
Ryman Hospitality Properties (NYSE:RHP - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The real estate investment trust reported $2.08 EPS for the quarter, topping analysts' consensus estimates 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 quarter last year, the business earned $1.60 earnings per share. Ryman Hospitality Properties's revenue was up 11.2% on a year-over-year basis. On average, analysts forecast that Ryman Hospitality Properties, Inc. will post 8.81 earnings per share for the current fiscal year.
Ryman Hospitality Properties Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were paid a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 4.62%. The ex-dividend date was Monday, June 30th. Ryman Hospitality Properties's payout ratio is 97.46%.
About Ryman Hospitality Properties
(
Free Report)
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.
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