Westpac Banking Corp lowered its stake in Ryman Hospitality Properties, Inc. (NYSE:RHP – Free Report) by 26.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,901 shares of the real estate investment trust’s stock after selling 4,697 shares during the period. Westpac Banking Corp’s holdings in Ryman Hospitality Properties were worth $1,221,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently bought and sold shares of RHP. Caitong International Asset Management Co. Ltd increased its holdings in shares of Ryman Hospitality Properties by 61.7% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 296 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 113 shares during the last quarter. Norinchukin Bank The increased its holdings in shares of Ryman Hospitality Properties by 4.2% in the 3rd quarter. Norinchukin Bank The now owns 2,978 shares of the real estate investment trust’s stock valued at $267,000 after acquiring an additional 119 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Ryman Hospitality Properties by 11.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,311 shares of the real estate investment trust’s stock valued at $117,000 after acquiring an additional 130 shares during the last quarter. Dakota Wealth Management increased its holdings in shares of Ryman Hospitality Properties by 1.5% in the 3rd quarter. Dakota Wealth Management now owns 9,015 shares of the real estate investment trust’s stock valued at $808,000 after acquiring an additional 135 shares during the last quarter. Finally, Hunter Associates Investment Management LLC increased its holdings in shares of Ryman Hospitality Properties by 1.4% in the 4th quarter. Hunter Associates Investment Management LLC now owns 10,536 shares of the real estate investment trust’s stock valued at $1,003,000 after acquiring an additional 145 shares during the last quarter. Institutional investors and hedge funds own 94.48% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research analysts have recently commented on RHP shares. Wells Fargo & Company increased their price objective on Ryman Hospitality Properties from $114.00 to $126.00 and gave the company an “overweight” rating in a report on Monday. Evercore reiterated an “outperform” rating and issued a $115.00 price objective on shares of Ryman Hospitality Properties in a report on Friday, February 6th. Barclays increased their price objective on Ryman Hospitality Properties from $110.00 to $120.00 and gave the company an “overweight” rating in a report on Monday. Cantor Fitzgerald increased their price objective on Ryman Hospitality Properties from $115.00 to $124.00 and gave the company an “overweight” rating in a report on Wednesday, May 13th. Finally, Truist Financial increased their price objective on Ryman Hospitality Properties from $129.00 to $132.00 and gave the company a “buy” rating in a report on Tuesday, May 26th. Nine analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $120.33.
Ryman Hospitality Properties Trading Down 1.3%
NYSE:RHP opened at $113.53 on Thursday. The stock’s 50 day moving average price is $103.74 and its 200 day moving average price is $98.71. The company has a market capitalization of $7.17 billion, a PE ratio of 29.96, a P/E/G ratio of 2.67 and a beta of 1.22. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 5.15. Ryman Hospitality Properties, Inc. has a 52-week low of $83.82 and a 52-week high of $117.18.
Ryman Hospitality Properties Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be paid a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date is Tuesday, June 30th. Ryman Hospitality Properties’s dividend payout ratio (DPR) is currently 126.65%.
Ryman Hospitality Properties Company 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.
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