Allspring Global Investments Holdings LLC Grows Position in Ryman Hospitality Properties, Inc. (NYSE:RHP)

Allspring Global Investments Holdings LLC boosted its stake in Ryman Hospitality Properties, Inc. (NYSE:RHP) by 202.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,273 shares of the real estate investment trust’s stock after buying an additional 4,866 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Ryman Hospitality Properties were worth $676,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. KB Financial Partners LLC purchased a new stake in shares of Ryman Hospitality Properties during the 1st quarter valued at $25,000. Lazard Asset Management LLC increased its position in shares of Ryman Hospitality Properties by 667.4% during the 1st quarter. Lazard Asset Management LLC now owns 330 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 287 shares during the last quarter. Lindbrook Capital LLC increased its position in shares of Ryman Hospitality Properties by 561.1% during the 1st quarter. Lindbrook Capital LLC now owns 357 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 303 shares during the last quarter. Quarry LP increased its position in shares of Ryman Hospitality Properties by 110.8% during the 1st quarter. Quarry LP now owns 430 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 226 shares during the last quarter. Finally, Rockefeller Capital Management L.P. increased its position in shares of Ryman Hospitality Properties by 118.1% during the 4th quarter. Rockefeller Capital Management L.P. now owns 517 shares of the real estate investment trust’s stock valued at $42,000 after purchasing an additional 280 shares during the last quarter. 91.23% of the stock is owned by hedge funds and other institutional investors.

Ryman Hospitality Properties Stock Performance

Shares of RHP opened at $92.15 on Friday. The company has a market cap of $5.50 billion, a PE ratio of 24.00, a price-to-earnings-growth ratio of 2.27 and a beta of 1.54. The company has a current ratio of 2.12, a quick ratio of 2.12 and a debt-to-equity ratio of 6.78. Ryman Hospitality Properties, Inc. has a 12-month low of $77.18 and a 12-month high of $98.60. The stock has a 50-day moving average price of $85.59 and a 200-day moving average price of $89.44.

Ryman Hospitality Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 16th. Investors of record on Friday, September 29th were issued a dividend of $1.00 per share. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 4.34%. Ryman Hospitality Properties’s dividend payout ratio is 104.17%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on RHP. Truist Financial lifted their price objective on Ryman Hospitality Properties from $119.00 to $123.00 and gave the stock a “buy” rating in a report on Friday, September 15th. StockNews.com initiated coverage on Ryman Hospitality Properties in a research note on Thursday, October 5th. They issued a “sell” rating for the company. JPMorgan Chase & Co. cut their target price on Ryman Hospitality Properties from $93.00 to $88.00 and set an “underweight” rating for the company in a research note on Monday, August 7th. Wedbush initiated coverage on Ryman Hospitality Properties in a research note on Tuesday, October 3rd. They issued an “outperform” rating and a $94.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Ryman Hospitality Properties from $128.00 to $129.00 and gave the stock a “buy” rating in a research note on Monday, August 7th. Two research analysts have rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Ryman Hospitality Properties has an average rating of “Moderate Buy” and a consensus price target of $105.57.

Insider Activity at Ryman Hospitality Properties

In related news, Director Alvin L. Bowles, Jr. sold 1,384 shares of the firm’s stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $85.13, for a total transaction of $117,819.92. Following the transaction, the director now directly owns 1,994 shares of the company’s stock, valued at approximately $169,749.22. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Alvin L. Bowles, Jr. sold 1,384 shares of the firm’s stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $85.13, for a total transaction of $117,819.92. Following the transaction, the director now directly owns 1,994 shares of the company’s stock, valued at approximately $169,749.22. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director William E. Haslam purchased 11,507 shares of the firm’s stock in a transaction on Monday, August 14th. The stock was bought at an average cost of $86.90 per share, for a total transaction of $999,958.30. Following the completion of the purchase, the director now directly owns 11,507 shares in the company, valued at $999,958.30. The disclosure for this purchase can be found here. 3.30% of the stock is currently owned by insiders.

Ryman Hospitality Properties 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 ten largest non-gaming convention center hotels in the United States based on total indoor meeting space.