Arizona State Retirement System Sells 290 Shares of Ryman Hospitality Properties, Inc. (NYSE:RHP)

Arizona State Retirement System cut its stake in Ryman Hospitality Properties, Inc. (NYSE:RHP) by 1.8% in the fourth quarter, HoldingsChannel reports. The fund owned 15,856 shares of the real estate investment trust’s stock after selling 290 shares during the period. Arizona State Retirement System’s holdings in Ryman Hospitality Properties were worth $1,745,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Heitman Real Estate Securities LLC acquired a new stake in shares of Ryman Hospitality Properties in the second quarter valued at approximately $44,566,000. BlackRock Inc. boosted its position in Ryman Hospitality Properties by 8.5% in the 1st quarter. BlackRock Inc. now owns 5,908,332 shares of the real estate investment trust’s stock valued at $530,155,000 after buying an additional 464,016 shares during the last quarter. Norges Bank acquired a new stake in shares of Ryman Hospitality Properties in the 4th quarter valued at $32,747,000. Millennium Management LLC lifted its stake in shares of Ryman Hospitality Properties by 105.1% during the fourth quarter. Millennium Management LLC now owns 749,853 shares of the real estate investment trust’s stock valued at $61,323,000 after acquiring an additional 384,336 shares during the period. Finally, State Street Corp boosted its holdings in Ryman Hospitality Properties by 14.6% in the first quarter. State Street Corp now owns 2,640,373 shares of the real estate investment trust’s stock valued at $244,947,000 after acquiring an additional 336,493 shares during the last quarter. 94.48% of the stock is currently owned by institutional investors and hedge funds.

Ryman Hospitality Properties Trading Down 1.5 %

Shares of NYSE RHP opened at $111.05 on Friday. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 5.90. Ryman Hospitality Properties, Inc. has a twelve month low of $79.86 and a twelve month high of $122.91. The company’s fifty day moving average is $116.10 and its 200-day moving average is $105.14. The stock has a market cap of $6.65 billion, a price-to-earnings ratio of 21.44, a P/E/G ratio of 0.79 and a beta of 1.57.

Ryman Hospitality Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 29th will be issued a $1.10 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $4.40 annualized dividend and a dividend yield of 3.96%. Ryman Hospitality Properties’s dividend payout ratio (DPR) is currently 84.94%.

Insider Transactions at Ryman Hospitality Properties

In related news, COO Patrick S. Chaffin sold 16,189 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $119.74, for a total value of $1,938,470.86. Following the completion of the transaction, the chief operating officer now directly owns 17,618 shares in the company, valued at approximately $2,109,579.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

RHP has been the topic of a number of research reports. Raymond James upped their target price on shares of Ryman Hospitality Properties from $115.00 to $135.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. Truist Financial lifted their target price on shares of Ryman Hospitality Properties from $134.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday, March 14th. Wells Fargo & Company increased their price target on Ryman Hospitality Properties from $125.00 to $133.00 and gave the company an “overweight” rating in a research note on Thursday, March 21st. Finally, StockNews.com raised Ryman Hospitality Properties from a “sell” rating to a “hold” rating in a research note on Friday, February 23rd. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $118.00.

About Ryman Hospitality Properties

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.