New York State Common Retirement Fund Cuts Stock Position in Ryman Hospitality Properties, Inc. $RHP

New York State Common Retirement Fund cut its holdings in shares of Ryman Hospitality Properties, Inc. (NYSE:RHP) by 10.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 112,827 shares of the real estate investment trust’s stock after selling 13,747 shares during the quarter. New York State Common Retirement Fund’s holdings in Ryman Hospitality Properties were worth $10,108,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Hamlin Capital Management LLC raised its position in shares of Ryman Hospitality Properties by 0.7% during the second quarter. Hamlin Capital Management LLC now owns 894,486 shares of the real estate investment trust’s stock valued at $88,259,000 after buying an additional 6,530 shares during the last quarter. Peregrine Capital Management LLC grew its stake in Ryman Hospitality Properties by 4,049.6% during the second quarter. Peregrine Capital Management LLC now owns 56,144 shares of the real estate investment trust’s stock valued at $5,540,000 after acquiring an additional 54,791 shares in the last quarter. Bayforest Capital Ltd bought a new stake in Ryman Hospitality Properties in the 3rd quarter valued at $776,000. Strs Ohio lifted its stake in Ryman Hospitality Properties by 23.3% in the 3rd quarter. Strs Ohio now owns 114,324 shares of the real estate investment trust’s stock worth $10,242,000 after purchasing an additional 21,600 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Ryman Hospitality Properties in the 2nd quarter worth $344,000. Institutional investors own 94.48% of the company’s stock.

Insider Buying and Selling at Ryman Hospitality Properties

In other Ryman Hospitality Properties news, Chairman Colin V. Reed purchased 8,993 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The stock was purchased at an average cost of $92.16 per share, with a total value of $828,794.88. Following the purchase, the chairman owned 888,010 shares of the company’s stock, valued at approximately $81,839,001.60. The trade was a 1.02% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 5.00% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on RHP. Evercore ISI reduced their target price on Ryman Hospitality Properties from $120.00 to $110.00 and set an “outperform” rating on the stock in a report on Thursday, October 30th. Wall Street Zen upgraded Ryman Hospitality Properties from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Morgan Stanley set a $88.00 price objective on Ryman Hospitality Properties in a research note on Friday, January 16th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $131.00 target price on shares of Ryman Hospitality Properties in a research report on Tuesday, January 13th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Ryman Hospitality Properties from $113.00 to $111.00 and set an “overweight” rating on the stock in a research report on Tuesday. Ten equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $109.73.

Ryman Hospitality Properties Price Performance

RHP stock opened at $95.02 on Wednesday. The stock has a market cap of $5.99 billion, a PE ratio of 25.14, a P/E/G ratio of 2.41 and a beta of 1.21. Ryman Hospitality Properties, Inc. has a 12 month low of $76.27 and a 12 month high of $105.51. The company has a 50-day moving average price of $95.23 and a 200 day moving average price of $94.39. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 4.98.

Ryman Hospitality Properties (NYSE:RHP) last posted its quarterly earnings data on Tuesday, November 4th. The real estate investment trust reported $1.63 earnings per share for the quarter, topping analysts’ consensus estimates of $1.59 by $0.04. The company had revenue of $592.46 million for the quarter, compared to analyst estimates of $573.40 million. Ryman Hospitality Properties had a net margin of 9.58% and a return on equity of 34.50%. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.93 EPS. Equities research analysts anticipate that Ryman Hospitality Properties, Inc. will post 8.81 earnings per share for the current year.

Ryman Hospitality Properties Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were issued a $1.20 dividend. The ex-dividend date was Wednesday, December 31st. This is a positive change from Ryman Hospitality Properties’s previous quarterly dividend of $1.15. This represents a $4.80 annualized dividend and a dividend yield of 5.1%. Ryman Hospitality Properties’s dividend payout ratio (DPR) is currently 126.98%.

Ryman Hospitality Properties Company Profile

Ryman Hospitality Properties, Inc is a publicly traded real estate investment trust (REIT) specializing in the ownership and operation of group‐oriented, large convention center hotel resorts. The company’s portfolio is anchored by its Gaylord Hotels brand, offering integrated resort, convention, entertainment and dining experiences under long‐term management agreements with Marriott International.

Ryman’s flagship properties include Gaylord Opryland Resort & Convention Center in Nashville, Gaylord Texan Resort & Convention Center near Dallas/Fort Worth and Gaylord Palms Resort & Convention Center in Orlando, Florida.