Raymond James Financial Inc. Invests $24 Million in Ryman Hospitality Properties, Inc. (NYSE:RHP)

Raymond James Financial Inc. bought a new position in shares of Ryman Hospitality Properties, Inc. (NYSE:RHP) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 229,973 shares of the real estate investment trust’s stock, valued at approximately $23,995,000. Raymond James Financial Inc. owned 0.38% of Ryman Hospitality Properties as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also made changes to their positions in the business. Arizona State Retirement System boosted its stake in shares of Ryman Hospitality Properties by 0.8% during the fourth quarter. Arizona State Retirement System now owns 16,515 shares of the real estate investment trust’s stock worth $1,723,000 after buying an additional 132 shares during the period. M&T Bank Corp lifted its position in Ryman Hospitality Properties by 15.7% in the fourth quarter. M&T Bank Corp now owns 6,573 shares of the real estate investment trust’s stock valued at $686,000 after purchasing an additional 892 shares during the period. Victory Capital Management Inc. lifted its position in Ryman Hospitality Properties by 87.3% in the fourth quarter. Victory Capital Management Inc. now owns 547,639 shares of the real estate investment trust’s stock valued at $57,141,000 after purchasing an additional 255,229 shares during the period. Keybank National Association OH acquired a new stake in Ryman Hospitality Properties in the fourth quarter valued at about $329,000. Finally, Nicola Wealth Management LTD. acquired a new stake in Ryman Hospitality Properties in the fourth quarter valued at about $1,075,000. Institutional investors and hedge funds own 94.48% of the company’s stock.

Insider Transactions at Ryman Hospitality Properties

In related news, Director Alvin L. Bowles, Jr. sold 473 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $97.03, for a total transaction of $45,895.19. Following the sale, the director now owns 2,675 shares in the company, valued at approximately $259,555.25. This trade represents a 15.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Colin V. Reed bought 8,231 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The shares were purchased at an average price of $97.54 per share, for a total transaction of $802,851.74. Following the transaction, the chairman now owns 832,260 shares of the company’s stock, valued at $81,178,640.40. The trade was a 1.00 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 3.00% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on RHP. JPMorgan Chase & Co. restated an “underweight” rating and issued a $100.00 price objective on shares of Ryman Hospitality Properties in a research report on Friday, December 13th. Wells Fargo & Company reduced their price objective on shares of Ryman Hospitality Properties from $130.00 to $122.00 and set an “overweight” rating for the company in a research report on Tuesday, February 18th. StockNews.com upgraded shares of Ryman Hospitality Properties from a “sell” rating to a “hold” rating in a research report on Saturday, March 1st. BMO Capital Markets initiated coverage on shares of Ryman Hospitality Properties in a report on Monday, December 9th. They issued an “outperform” rating and a $133.00 target price for the company. Finally, Truist Financial reaffirmed a “buy” rating and issued a $133.00 target price (down from $136.00) on shares of Ryman Hospitality Properties in a report on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $125.67.

Ryman Hospitality Properties Trading Up 3.4 %

Shares of RHP opened at $96.67 on Friday. The company has a debt-to-equity ratio of 6.07, a current ratio of 1.73 and a quick ratio of 1.73. The firm has a 50 day simple moving average of $101.60 and a 200-day simple moving average of $106.57. Ryman Hospitality Properties, Inc. has a 1-year low of $93.17 and a 1-year high of $121.77. The stock has a market cap of $5.79 billion, a price-to-earnings ratio of 22.02, a price-to-earnings-growth ratio of 2.71 and a beta of 1.65.

Ryman Hospitality Properties (NYSE:RHP) last issued its quarterly earnings data on Thursday, February 20th. The real estate investment trust reported $2.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.94. Ryman Hospitality Properties had a net margin of 11.61% and a return on equity of 49.23%. The business had revenue of $647.63 million during the quarter, compared to analysts’ expectations of $656.01 million. Equities analysts forecast that Ryman Hospitality Properties, Inc. will post 8.81 EPS for the current fiscal year.

Ryman Hospitality Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a dividend of $1.15 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $4.60 dividend on an annualized basis and a dividend yield of 4.76%. Ryman Hospitality Properties’s dividend payout ratio (DPR) is 104.78%.

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.