BB&T Corp Has $6.54 Million Stake in Ryman Hospitality Properties Inc (RHP)
BB&T Corp cut its holdings in shares of Ryman Hospitality Properties Inc (NYSE:RHP) by 12.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 75,914 shares of the real estate investment trust’s stock after selling 11,046 shares during the period. BB&T Corp’s holdings in Ryman Hospitality Properties were worth $6,542,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Point72 Hong Kong Ltd bought a new stake in Ryman Hospitality Properties during the second quarter worth approximately $205,000. Pecaut & CO. bought a new stake in Ryman Hospitality Properties during the second quarter worth approximately $208,000. Cubist Systematic Strategies LLC bought a new stake in Ryman Hospitality Properties during the second quarter worth approximately $209,000. Commonwealth Equity Services LLC bought a new stake in Ryman Hospitality Properties during the first quarter worth approximately $225,000. Finally, Brown Advisory Inc. bought a new stake in Ryman Hospitality Properties during the second quarter worth approximately $239,000. Institutional investors and hedge funds own 84.66% of the company’s stock.
RHP has been the topic of several recent analyst reports. Bank of America boosted their target price on Ryman Hospitality Properties from $90.00 to $94.00 and gave the stock a “buy” rating in a report on Tuesday, September 18th. Citigroup set a $98.00 target price on Ryman Hospitality Properties and gave the stock a “buy” rating in a report on Monday, September 17th. Finally, Deutsche Bank set a $94.00 target price on Ryman Hospitality Properties and gave the stock a “buy” rating in a report on Saturday, September 15th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Ryman Hospitality Properties currently has a consensus rating of “Buy” and an average price target of $87.50.
Ryman Hospitality Properties (NYSE:RHP) last announced its earnings results on Tuesday, August 7th. The real estate investment trust reported $1.08 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.76 by ($0.68). Ryman Hospitality Properties had a return on equity of 48.96% and a net margin of 14.53%. The firm had revenue of $333.90 million for the quarter, compared to the consensus estimate of $329.60 million. During the same period in the previous year, the firm earned $1.55 EPS. Ryman Hospitality Properties’s revenue for the quarter was up 11.7% on a year-over-year basis. As a group, analysts anticipate that Ryman Hospitality Properties Inc will post 5.89 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, October 15th. Shareholders of record on Friday, September 28th were issued a $0.85 dividend. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $3.40 annualized dividend and a dividend yield of 4.39%. Ryman Hospitality Properties’s dividend payout ratio is currently 61.15%.
Ryman Hospitality Properties Profile
Ryman Hospitality Properties, Inc (NYSE:RHP) is a REIT for federal income tax purposes, specializing in group-oriented, destination hotel assets in urban and resort markets. The Company's owned assets include a network of four upscale, meetings-focused resorts totaling 8,114 rooms that are managed by lodging operator Marriott International, Inc under the Gaylord Hotels brand.
Further Reading: Yield Curve
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