Bank of New York Mellon Corp Acquires 85,307 Shares of Ryman Hospitality Properties, Inc. (NYSE:RHP)

Bank of New York Mellon Corp increased its position in Ryman Hospitality Properties, Inc. (NYSE:RHP) by 15.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 644,450 shares of the real estate investment trust’s stock after buying an additional 85,307 shares during the period. Bank of New York Mellon Corp owned about 1.07% of Ryman Hospitality Properties worth $58,929,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Heck Capital Advisors LLC purchased a new stake in Ryman Hospitality Properties in the 4th quarter worth $31,000. Fifth Third Bancorp raised its position in shares of Ryman Hospitality Properties by 175.6% during the 1st quarter. Fifth Third Bancorp now owns 576 shares of the real estate investment trust’s stock valued at $53,000 after buying an additional 367 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in shares of Ryman Hospitality Properties during the 4th quarter valued at about $72,000. Covestor Ltd raised its position in Ryman Hospitality Properties by 33.3% in the 4th quarter. Covestor Ltd now owns 829 shares of the real estate investment trust’s stock worth $87,000 after purchasing an additional 207 shares during the period. Finally, FIL Ltd grew its stake in Ryman Hospitality Properties by 44.5% in the 4th quarter. FIL Ltd now owns 929 shares of the real estate investment trust’s stock worth $97,000 after acquiring an additional 286 shares in the last quarter. Institutional investors own 94.48% of the company’s stock.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

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

Ryman Hospitality Properties Stock Down 1.1%

Shares of NYSE RHP opened at $103.35 on Friday. The company’s 50-day simple moving average is $98.54 and its 200-day simple moving average is $97.37. Ryman Hospitality Properties, Inc. has a 52-week low of $76.27 and a 52-week high of $121.77. The firm has a market cap of $6.20 billion, a price-to-earnings ratio of 21.90, a price-to-earnings-growth ratio of 2.78 and a beta of 1.57. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 5.92.

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

Ryman Hospitality Properties Dividend Announcement

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 paid a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 4.45%. The ex-dividend date is Monday, June 30th. Ryman Hospitality Properties’s dividend payout ratio (DPR) is presently 97.46%.

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 seven largest non-gaming convention center hotels in the United States based on total indoor meeting space.