Covestor Ltd Sells 350 Shares of Ryman Hospitality Properties, Inc. (NYSE:RHP)

Covestor Ltd reduced its stake in Ryman Hospitality Properties, Inc. (NYSE:RHP) by 36.0% during the third quarter, HoldingsChannel.com reports. The firm owned 622 shares of the real estate investment trust’s stock after selling 350 shares during the quarter. Covestor Ltd’s holdings in Ryman Hospitality Properties were worth $66,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Fifth Third Bancorp raised its holdings in Ryman Hospitality Properties by 347.6% in the 2nd quarter. Fifth Third Bancorp now owns 282 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 219 shares during the last quarter. SYSTM Wealth Solutions LLC purchased a new position in Ryman Hospitality Properties in the 2nd quarter worth approximately $32,000. Quest Partners LLC raised its holdings in Ryman Hospitality Properties by 8,450.0% in the 2nd quarter. Quest Partners LLC now owns 342 shares of the real estate investment trust’s stock worth $34,000 after acquiring an additional 338 shares during the last quarter. GAMMA Investing LLC raised its stake in Ryman Hospitality Properties by 34.6% during the 3rd quarter. GAMMA Investing LLC now owns 401 shares of the real estate investment trust’s stock valued at $43,000 after buying an additional 103 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its stake in Ryman Hospitality Properties by 79.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 491 shares of the real estate investment trust’s stock valued at $53,000 after buying an additional 218 shares during the last quarter. 94.48% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on RHP shares. Wells Fargo & Company decreased their target price on shares of Ryman Hospitality Properties from $127.00 to $115.00 and set an “overweight” rating for the company in a research note on Friday, September 13th. StockNews.com upgraded shares of Ryman Hospitality Properties from a “sell” rating to a “hold” rating in a research note on Friday, August 9th. JPMorgan Chase & Co. upped their price objective on Ryman Hospitality Properties from $104.00 to $105.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Finally, Jefferies Financial Group assumed coverage on Ryman Hospitality Properties in a research note on Wednesday, November 6th. They issued a “buy” rating and a $130.00 price objective for the company. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $125.17.

Insider Activity

In other news, Director Fazal F. Merchant sold 1,269 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $113.98, for a total transaction of $144,640.62. Following the transaction, the director now directly owns 4,825 shares of the company’s stock, valued at approximately $549,953.50. This trade represents a 20.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Alvin L. Bowles, Jr. sold 900 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $107.32, for a total transaction of $96,588.00. Following the transaction, the director now directly owns 3,148 shares in the company, valued at approximately $337,843.36. This trade represents a 22.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 3.00% of the company’s stock.

Ryman Hospitality Properties Stock Down 1.0 %

RHP opened at $112.20 on Friday. The firm has a 50-day simple moving average of $108.14 and a two-hundred day simple moving average of $104.08. Ryman Hospitality Properties, Inc. has a 52 week low of $93.76 and a 52 week high of $122.91. The company has a market capitalization of $6.72 billion, a PE ratio of 19.93, a price-to-earnings-growth ratio of 2.00 and a beta of 1.65. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 6.07.

Ryman Hospitality Properties (NYSE:RHP) last released its quarterly earnings data on Monday, November 4th. The real estate investment trust reported $0.94 EPS for the quarter, missing the consensus estimate of $1.83 by ($0.89). Ryman Hospitality Properties had a net margin of 14.84% and a return on equity of 61.94%. The company had revenue of $549.90 million for the quarter, compared to the consensus estimate of $545.93 million. During the same period last year, the company earned $1.73 EPS. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. Analysts forecast that Ryman Hospitality Properties, Inc. will post 8.44 earnings per share for the current fiscal year.

Ryman Hospitality Properties Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 4.10%. This is a boost from Ryman Hospitality Properties’s previous quarterly dividend of $1.10. The ex-dividend date of this dividend is Tuesday, December 31st. Ryman Hospitality Properties’s dividend payout ratio is currently 78.15%.

Ryman Hospitality Properties Company Profile

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.