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

Allspring Global Investments Holdings LLC grew its position in Ryman Hospitality Properties, Inc. (NYSE:RHP) by 53.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,483 shares of the real estate investment trust’s stock after purchasing an additional 2,615 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Ryman Hospitality Properties were worth $692,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in RHP. M&T Bank Corp increased its stake in Ryman Hospitality Properties by 15.7% in the 4th quarter. M&T Bank Corp now owns 6,573 shares of the real estate investment trust’s stock valued at $686,000 after buying an additional 892 shares during the last quarter. Arizona State Retirement System increased its position in shares of Ryman Hospitality Properties by 0.8% during the fourth quarter. Arizona State Retirement System now owns 16,515 shares of the real estate investment trust’s stock valued at $1,723,000 after acquiring an additional 132 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Ryman Hospitality Properties during the fourth quarter worth $23,995,000. PNC Financial Services Group Inc. boosted its position in Ryman Hospitality Properties by 369.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 12,738 shares of the real estate investment trust’s stock worth $1,329,000 after purchasing an additional 10,025 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Ryman Hospitality Properties by 48.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 36,091 shares of the real estate investment trust’s stock worth $3,766,000 after purchasing an additional 11,753 shares during the last quarter. 94.48% of the stock is owned by institutional investors.

Ryman Hospitality Properties Price Performance

RHP opened at $102.28 on Thursday. The firm has a 50-day moving average price of $98.01 and a 200-day moving average price of $97.47. Ryman Hospitality Properties, Inc. has a twelve month low of $76.27 and a twelve month high of $121.77. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 5.92. The company has a market capitalization of $6.14 billion, a price-to-earnings ratio of 21.67, a PEG ratio of 2.76 and a beta of 1.57.

Ryman Hospitality Properties (NYSE:RHP) last released its quarterly earnings data on Thursday, May 1st. The real estate investment trust reported $2.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.79 by $0.29. The business had revenue of $587.28 million during the quarter, compared to analyst estimates of $546.52 million. Ryman Hospitality Properties had a net margin of 12.16% and a return on equity of 51.95%. Ryman Hospitality Properties’s revenue was up 11.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.60 EPS. Equities analysts expect that Ryman Hospitality Properties, Inc. will post 8.81 EPS for the current year.

Ryman Hospitality Properties Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 4.50%. The ex-dividend date is Monday, June 30th. Ryman Hospitality Properties’s payout ratio is presently 97.46%.

Insider Activity

In other news, Chairman Colin V. Reed purchased 8,356 shares of the business’s stock in a transaction on Monday, June 9th. The stock was purchased at an average cost of $96.92 per share, with a total value of $809,863.52. Following the acquisition, the chairman directly owned 870,406 shares in the company, valued at approximately $84,359,749.52. This trade represents a 0.97% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Alvin L. Bowles, Jr. sold 1,300 shares of the business’s stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $99.01, for a total transaction of $128,713.00. Following the transaction, the director owned 2,576 shares of the company’s stock, valued at $255,049.76. This trade represents a 33.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 5.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. initiated coverage on Ryman Hospitality Properties in a research report on Monday, June 23rd. They set an “overweight” rating and a $117.00 target price for the company. Wedbush set a $110.00 price objective on shares of Ryman Hospitality Properties and gave the stock an “outperform” rating in a report on Tuesday, May 6th. Truist Financial dropped their target price on shares of Ryman Hospitality Properties from $127.00 to $120.00 and set a “buy” rating on the stock in a research note on Friday, May 30th. Evercore ISI reduced their target price on shares of Ryman Hospitality Properties from $130.00 to $120.00 and set an “outperform” rating for the company in a research report on Monday, April 28th. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and issued a $101.00 price target (up previously from $99.00) on shares of Ryman Hospitality Properties in a report on Thursday, May 22nd. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Ryman Hospitality Properties currently has a consensus rating of “Moderate Buy” and an average target price of $114.43.

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.