Teachers Retirement System of The State of Kentucky grew its holdings in Ryman Hospitality Properties, Inc. (NYSE:RHP - Free Report) by 33.8% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 24,486 shares of the real estate investment trust's stock after buying an additional 6,186 shares during the period. Teachers Retirement System of The State of Kentucky's holdings in Ryman Hospitality Properties were worth $2,626,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Fifth Third Bancorp raised its stake in Ryman Hospitality Properties by 347.6% during the 2nd quarter. Fifth Third Bancorp now owns 282 shares of the real estate investment trust's stock valued at $28,000 after acquiring an additional 219 shares during the last quarter. Quarry LP acquired a new position in shares of Ryman Hospitality Properties in the third quarter valued at approximately $28,000. SYSTM Wealth Solutions LLC purchased a new stake in shares of Ryman Hospitality Properties during the second quarter worth approximately $32,000. Quest Partners LLC lifted its holdings in shares of Ryman Hospitality Properties by 8,450.0% during the second quarter. Quest Partners LLC now owns 342 shares of the real estate investment trust's stock worth $34,000 after purchasing an additional 338 shares during the period. Finally, GAMMA Investing LLC grew its position in Ryman Hospitality Properties by 34.6% in 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. Hedge funds and other institutional investors own 94.48% of the company's stock.
Ryman Hospitality Properties stock opened at $113.24 on Monday. The firm has a market capitalization of $6.78 billion, a PE ratio of 20.11, a P/E/G ratio of 2.95 and a beta of 1.65. Ryman Hospitality Properties, Inc. has a 52 week low of $93.76 and a 52 week high of $122.91. The firm's 50-day simple moving average is $112.64 and its 200 day simple moving average is $105.71. 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 - Get Free Report) last announced its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $0.94 earnings per share (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 business had revenue of $549.90 million during the quarter, compared to analysts' expectations 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. On average, equities research analysts predict that Ryman Hospitality Properties, Inc. will post 8.44 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a $1.15 dividend. This is an increase from Ryman Hospitality Properties's previous quarterly dividend of $1.10. This represents a $4.60 annualized dividend and a dividend yield of 4.06%. The ex-dividend date of this dividend is Tuesday, December 31st. Ryman Hospitality Properties's dividend payout ratio is currently 81.71%.
In related 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 sale, the director now owns 4,825 shares in the company, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Alvin L. Bowles, Jr. sold 900 shares of Ryman Hospitality Properties 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 completion of the sale, the director now directly owns 3,148 shares of the company's stock, valued at $337,843.36. The trade was 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.
Several analysts have recently weighed in on the stock. 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 on the stock. JPMorgan Chase & Co. reaffirmed an "underweight" rating and issued a $100.00 price objective on shares of Ryman Hospitality Properties in a report on Friday. Truist Financial increased their target price on Ryman Hospitality Properties from $130.00 to $136.00 and gave the stock a "buy" rating in a research note on Monday, November 18th. Wells Fargo & Company lifted their price target on Ryman Hospitality Properties from $124.00 to $130.00 and gave the company an "overweight" rating in a research note on Monday, December 9th. Finally, Jefferies Financial Group started coverage on shares of Ryman Hospitality Properties in a research note on Wednesday, November 6th. They set a "buy" rating and a $130.00 price target on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $128.57.
View Our Latest Report on RHP
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Ryman Hospitality Properties, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Ryman Hospitality Properties wasn't on the list.
While Ryman Hospitality Properties currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.