Lazard Asset Management LLC Increases Position in Ryman Hospitality Properties, Inc. (NYSE:RHP)

Lazard Asset Management LLC boosted its holdings in Ryman Hospitality Properties, Inc. (NYSE:RHP) by 7.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 19,756 shares of the real estate investment trust’s stock after acquiring an additional 1,375 shares during the quarter. Lazard Asset Management LLC’s holdings in Ryman Hospitality Properties were worth $2,060,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Cetera Investment Advisers grew its holdings in Ryman Hospitality Properties by 2.9% in the fourth quarter. Cetera Investment Advisers now owns 4,469 shares of the real estate investment trust’s stock worth $466,000 after purchasing an additional 125 shares during the period. Arizona State Retirement System grew its holdings in Ryman Hospitality Properties by 0.8% in 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 purchasing an additional 132 shares during the period. Summit Global Investments grew its holdings in Ryman Hospitality Properties by 2.1% in the fourth quarter. Summit Global Investments now owns 7,597 shares of the real estate investment trust’s stock worth $793,000 after purchasing an additional 153 shares during the period. Beacon Investment Advisors LLC grew its holdings in Ryman Hospitality Properties by 0.5% in the fourth quarter. Beacon Investment Advisors LLC now owns 30,466 shares of the real estate investment trust’s stock worth $3,179,000 after purchasing an additional 155 shares during the period. Finally, Blue Trust Inc. grew its holdings in Ryman Hospitality Properties by 23.4% in the fourth quarter. Blue Trust Inc. now owns 845 shares of the real estate investment trust’s stock worth $91,000 after purchasing an additional 160 shares during the period. Hedge funds and other institutional investors own 94.48% of the company’s stock.

Ryman Hospitality Properties Trading Up 1.0%

NYSE:RHP opened at $99.10 on Friday. Ryman Hospitality Properties, Inc. has a 52 week low of $76.27 and a 52 week high of $121.77. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 6.07. The company’s 50 day moving average price is $90.84 and its 200-day moving average price is $101.27. The stock has a market cap of $5.95 billion, a price-to-earnings ratio of 22.57, a PEG ratio of 2.71 and a beta of 1.55.

Ryman Hospitality Properties (NYSE:RHP) last issued its earnings results on Thursday, May 1st. The real estate investment trust reported $2.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.79 by $0.29. Ryman Hospitality Properties had a net margin of 11.61% and a return on equity of 49.23%. The company had revenue of $587.28 million for the quarter, compared to analysts’ expectations of $546.52 million. During the same quarter last year, the company posted $1.60 earnings per share. The firm’s quarterly revenue was up 11.2% on a year-over-year basis. On average, equities research analysts forecast that Ryman Hospitality Properties, Inc. will post 8.81 earnings per share for the current fiscal year.

Ryman Hospitality Properties Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be issued a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 4.64%. The ex-dividend date of this dividend is Monday, June 30th. Ryman Hospitality Properties’s dividend payout ratio is currently 97.46%.

Insider Buying and Selling

In other Ryman Hospitality Properties news, Chairman Colin V. Reed purchased 8,231 shares of the firm’s stock in a transaction on Wednesday, February 26th. The shares were acquired at an average cost of $97.54 per share, for a total transaction of $802,851.74. Following the completion of the transaction, the chairman now owns 832,260 shares of the company’s stock, valued at approximately $81,178,640.40. The trade was a 1.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Alvin L. Bowles, Jr. sold 473 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $97.03, for a total transaction of $45,895.19. Following the completion of the transaction, the director now owns 2,675 shares in the company, valued at $259,555.25. The trade was a 15.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Jefferies Financial Group cut their price objective on shares of Ryman Hospitality Properties from $118.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th. Evercore ISI cut their price target on shares of Ryman Hospitality Properties from $130.00 to $120.00 and set an “outperform” rating on the stock in a report on Monday, April 28th. Wells Fargo & Company cut their price target on shares of Ryman Hospitality Properties from $130.00 to $122.00 and set an “overweight” rating on the stock in a report on Tuesday, February 18th. StockNews.com upgraded shares of Ryman Hospitality Properties from a “sell” rating to a “hold” rating in a report on Saturday, March 1st. Finally, Wedbush set a $110.00 price target on shares of Ryman Hospitality Properties and gave the company an “outperform” rating in a report on Tuesday, May 6th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $116.00.

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.