Summit Global Investments decreased its holdings in shares of Ryman Hospitality Properties, Inc. (NYSE:RHP - Free Report) by 48.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,966 shares of the real estate investment trust's stock after selling 9,400 shares during the quarter. Summit Global Investments' holdings in Ryman Hospitality Properties were worth $1,097,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. GAMMA Investing LLC acquired a new stake in shares of Ryman Hospitality Properties in the fourth quarter valued at about $27,000. Signaturefd LLC raised its position in shares of Ryman Hospitality Properties by 518.9% in the fourth quarter. Signaturefd LLC now owns 328 shares of the real estate investment trust's stock valued at $36,000 after buying an additional 275 shares during the last quarter. Covestor Ltd raised its position in shares of Ryman Hospitality Properties by 15.5% in the third quarter. Covestor Ltd now owns 1,218 shares of the real estate investment trust's stock valued at $101,000 after buying an additional 163 shares during the last quarter. Schnieders Capital Management LLC acquired a new stake in shares of Ryman Hospitality Properties in the fourth quarter valued at about $216,000. Finally, TIAA Trust National Association acquired a new stake in shares of Ryman Hospitality Properties in the fourth quarter valued at about $220,000. 94.48% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In other news, COO Patrick S. Chaffin sold 16,189 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $119.74, for a total transaction of $1,938,470.86. Following the sale, the chief operating officer now owns 17,618 shares of the company's stock, valued at $2,109,579.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.00% of the stock is owned by corporate insiders.
Ryman Hospitality Properties Trading Down 0.4 %
Ryman Hospitality Properties stock traded down $0.39 during trading on Friday, hitting $104.43. The company had a trading volume of 857,973 shares, compared to its average volume of 448,489. The stock has a market cap of $6.25 billion, a price-to-earnings ratio of 21.62, a price-to-earnings-growth ratio of 0.78 and a beta of 1.59. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 5.90. Ryman Hospitality Properties, Inc. has a 1-year low of $79.86 and a 1-year high of $122.91. The company's 50 day simple moving average is $113.27 and its 200-day simple moving average is $107.65.
Ryman Hospitality Properties Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were issued a $1.10 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $4.40 annualized dividend and a dividend yield of 4.21%. Ryman Hospitality Properties's dividend payout ratio is presently 91.10%.
Wall Street Analyst Weigh In
A number of equities research analysts have recently commented on RHP shares. StockNews.com upgraded shares of Ryman Hospitality Properties from a "sell" rating to a "hold" rating in a research report on Friday, February 23rd. Raymond James lifted their price target on shares of Ryman Hospitality Properties from $115.00 to $135.00 and gave the company an "outperform" rating in a research report on Friday, February 2nd. Wells Fargo & Company increased their price objective on Ryman Hospitality Properties from $125.00 to $133.00 and gave the stock an "overweight" rating in a research report on Thursday, March 21st. Finally, Truist Financial raised their target price on Ryman Hospitality Properties from $134.00 to $135.00 and gave the stock a "buy" rating in a research note on Thursday, March 14th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Ryman Hospitality Properties currently has a consensus rating of "Moderate Buy" and a consensus price target of $118.00.
Read Our Latest Stock Report on Ryman Hospitality Properties
Ryman Hospitality Properties Company Profile
(
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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