The Manufacturers Life Insurance Company Buys Shares of 32,609 Ryman Hospitality Properties, Inc. $RHP

The Manufacturers Life Insurance Company purchased a new stake in shares of Ryman Hospitality Properties, Inc. (NYSE:RHP) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 32,609 shares of the real estate investment trust’s stock, valued at approximately $4,192,000.

A number of other hedge funds have also modified their holdings of the stock. Sanctuary Advisors LLC purchased a new stake in shares of Ryman Hospitality Properties during the second quarter worth $810,000. Elevation Point Wealth Partners LLC purchased a new position in Ryman Hospitality Properties in the second quarter valued at about $294,000. Commerce Bank acquired a new position in Ryman Hospitality Properties in the 2nd quarter worth about $681,000. Callan Family Office LLC purchased a new stake in shares of Ryman Hospitality Properties during the 2nd quarter worth about $270,000. Finally, Caldwell Investment Management Ltd. purchased a new stake in shares of Ryman Hospitality Properties during the 2nd quarter worth about $912,000. 94.48% of the stock is owned by institutional investors and hedge funds.

Ryman Hospitality Properties Stock Down 2.8%

Shares of RHP stock opened at $123.18 on Wednesday. The stock’s 50 day simple moving average is $128.07 and its 200 day simple moving average is $112.87. Ryman Hospitality Properties, Inc. has a twelve month low of $83.82 and a twelve month high of $137.46. The company has a debt-to-equity ratio of 5.02, a quick ratio of 1.34 and a current ratio of 1.34. The company has a market capitalization of $7.78 billion, a price-to-earnings ratio of 30.12, a PEG ratio of 1.94 and a beta of 1.18.

Ryman Hospitality Properties (NYSE:RHP) last announced its earnings results on Friday, August 7th. The real estate investment trust reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.11. Ryman Hospitality Properties had a return on equity of 34.54% and a net margin of 9.91%.The firm had revenue of $748.98 million during the quarter, compared to analysts’ expectations of $734.59 million. During the same quarter in the prior year, the business earned $2.35 earnings per share. The company’s revenue was up 13.6% on a year-over-year basis. As a group, research analysts predict that Ryman Hospitality Properties, Inc. will post 9.21 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently commented on RHP shares. Cantor Fitzgerald boosted their price target on Ryman Hospitality Properties from $124.00 to $135.00 and gave the company an “overweight” rating in a research note on Tuesday, August 11th. Morgan Stanley raised their price objective on shares of Ryman Hospitality Properties from $105.00 to $112.00 and gave the company an “overweight” rating in a research report on Tuesday, May 12th. Truist Financial boosted their target price on shares of Ryman Hospitality Properties from $129.00 to $132.00 and gave the stock a “buy” rating in a research report on Tuesday, May 26th. Wells Fargo & Company raised their price target on shares of Ryman Hospitality Properties from $126.00 to $136.00 and gave the company an “overweight” rating in a report on Thursday, July 23rd. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $137.00 price objective on shares of Ryman Hospitality Properties in a research note on Friday, June 12th. Twelve equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $131.27.

Ryman Hospitality Properties 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.