Zurcher Kantonalbank Zurich Cantonalbank Acquires 1,296 Shares of Ryman Hospitality Properties, Inc. (NYSE:RHP)

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Ryman Hospitality Properties, Inc. (NYSE:RHP) by 3.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 37,387 shares of the real estate investment trust’s stock after purchasing an additional 1,296 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned 0.06% of Ryman Hospitality Properties worth $3,419,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RHP. Heck Capital Advisors LLC bought a new stake in shares of Ryman Hospitality Properties during the 4th quarter valued at $31,000. Fifth Third Bancorp grew its stake in Ryman Hospitality Properties by 175.6% during the first 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 in the last quarter. CWM LLC increased its holdings in Ryman Hospitality Properties by 213.4% in the 1st quarter. CWM LLC now owns 724 shares of the real estate investment trust’s stock valued at $66,000 after buying an additional 493 shares during the period. Covestor Ltd raised its position in shares of Ryman Hospitality Properties by 33.3% in the 4th 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 in the last quarter. Finally, FIL Ltd raised its position in shares of Ryman Hospitality Properties by 44.5% in the 4th quarter. FIL Ltd now owns 929 shares of the real estate investment trust’s stock valued at $97,000 after buying an additional 286 shares in the last quarter. 94.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Alvin L. Bowles, Jr. sold 1,300 shares of the business’s stock in a transaction that occurred 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 owned 2,576 shares in the company, valued at $255,049.76. The trade was a 33.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Colin V. Reed bought 8,356 shares of the firm’s stock in a transaction that occurred on Monday, June 9th. The stock was acquired at an average price of $96.92 per share, for a total transaction of $809,863.52. Following the transaction, the chairman owned 870,406 shares in the company, valued at $84,359,749.52. This trade represents 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 currently owned by corporate insiders.

Ryman Hospitality Properties Trading Down 2.3%

Shares of Ryman Hospitality Properties stock opened at $92.88 on Friday. The company’s 50-day moving average price is $99.20 and its 200-day moving average price is $97.00. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 5.92. Ryman Hospitality Properties, Inc. has a 12-month low of $76.27 and a 12-month high of $121.77. The company has a market cap of $5.57 billion, a price-to-earnings ratio of 19.68, a PEG ratio of 2.18 and a beta of 1.62.

Ryman Hospitality Properties (NYSE:RHP) last released its quarterly earnings results on Thursday, May 1st. The real estate investment trust reported $2.08 earnings per share for the quarter, topping 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 firm had revenue of $587.28 million for the quarter, compared to analysts’ expectations of $546.52 million. During the same quarter in the prior year, the firm posted $1.60 earnings per share. The business’s quarterly revenue was up 11.2% on a year-over-year basis. On average, equities analysts expect that Ryman Hospitality Properties, Inc. will post 8.81 earnings per share for the current fiscal year.

Ryman Hospitality Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were given a dividend of $1.15 per share. The ex-dividend date was Monday, June 30th. This represents a $4.60 annualized dividend and a dividend yield of 5.0%. Ryman Hospitality Properties’s dividend payout ratio is 97.46%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on RHP. Wells Fargo & Company lifted their price target on Ryman Hospitality Properties from $101.00 to $108.00 and gave the company an “overweight” rating in a research note on Tuesday, July 15th. Jefferies Financial Group decreased their target price on Ryman Hospitality Properties from $118.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, April 9th. JPMorgan Chase & Co. assumed coverage on shares of Ryman Hospitality Properties in a report on Monday, June 23rd. They issued an “overweight” rating and a $117.00 target price for the company. Bank of America raised their price target on shares of Ryman Hospitality Properties from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Monday, July 21st. Finally, Truist Financial lowered their price objective on shares of Ryman Hospitality Properties from $127.00 to $120.00 and set a “buy” rating for the company in a research report on Friday, May 30th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $114.75.

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.