Ryman Hospitality Properties, Inc. (NYSE:RHP) Shares Bought by M&T Bank Corp

M&T Bank Corp boosted its holdings in Ryman Hospitality Properties, Inc. (NYSE:RHP) by 3.7% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,813 shares of the real estate investment trust’s stock after acquiring an additional 240 shares during the period. M&T Bank Corp’s holdings in Ryman Hospitality Properties were worth $623,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Heck Capital Advisors LLC acquired a new stake in shares of Ryman Hospitality Properties during the 4th quarter worth approximately $31,000. Fifth Third Bancorp grew its stake in 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 worth $53,000 after buying an additional 367 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in Ryman Hospitality Properties in the fourth quarter worth $72,000. Covestor Ltd lifted its stake in Ryman Hospitality Properties by 33.3% in the fourth quarter. Covestor Ltd now owns 829 shares of the real estate investment trust’s stock valued at $87,000 after buying an additional 207 shares during the last quarter. Finally, FIL Ltd boosted its holdings in shares of Ryman Hospitality Properties by 44.5% during the fourth quarter. FIL Ltd now owns 929 shares of the real estate investment trust’s stock valued at $97,000 after acquiring an additional 286 shares during the period. Institutional investors own 94.48% of the company’s stock.

Ryman Hospitality Properties Trading Down 2.0%

Ryman Hospitality Properties stock opened at $101.69 on Wednesday. Ryman Hospitality Properties, Inc. has a 52 week low of $76.27 and a 52 week high of $121.77. The company has a debt-to-equity ratio of 5.92, a quick ratio of 1.55 and a current ratio of 1.55. The firm has a market capitalization of $6.10 billion, a price-to-earnings ratio of 21.54, a P/E/G ratio of 2.80 and a beta of 1.57. The company has a 50 day moving average price of $98.87 and a 200 day moving average price of $97.32.

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

Ryman Hospitality Properties Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were paid a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 4.52%. The ex-dividend date of this dividend was Monday, June 30th. Ryman Hospitality Properties’s dividend payout ratio (DPR) is presently 97.46%.

Insider Activity

In other news, Director Alvin L. Bowles, Jr. sold 1,300 shares of Ryman Hospitality Properties stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $99.01, for a total value 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Colin V. Reed bought 8,356 shares of the stock in a transaction on Monday, June 9th. The stock was acquired at an average cost of $96.92 per share, for a total transaction of $809,863.52. Following the acquisition, 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 insiders.

Analyst Ratings Changes

RHP has been the topic of several analyst reports. Jefferies Financial Group dropped their price target on shares of Ryman Hospitality Properties from $118.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, April 9th. Truist Financial lowered their target price on Ryman Hospitality Properties from $127.00 to $120.00 and set a “buy” rating on the stock in a research report on Friday, May 30th. Wells Fargo & Company boosted their price target on Ryman Hospitality Properties from $101.00 to $108.00 and gave the stock an “overweight” rating in a research report on Tuesday. Wedbush set a $110.00 price target on Ryman Hospitality Properties and gave the company an “outperform” rating in a report on Tuesday, May 6th. Finally, JPMorgan Chase & Co. began 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. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $115.43.

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.