California Public Employees Retirement System Lowers Holdings in Ryman Hospitality Properties, Inc. (NYSE:RHP)

California Public Employees Retirement System lessened its holdings in shares of Ryman Hospitality Properties, Inc. (NYSE:RHP) by 9.6% during the 4th quarter, Holdings Channel reports. The firm owned 107,248 shares of the real estate investment trust’s stock after selling 11,420 shares during the period. California Public Employees Retirement System’s holdings in Ryman Hospitality Properties were worth $11,190,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in RHP. Principal Financial Group Inc. raised its stake in Ryman Hospitality Properties by 41.9% during the third quarter. Principal Financial Group Inc. now owns 3,153,360 shares of the real estate investment trust’s stock valued at $338,168,000 after purchasing an additional 931,283 shares in the last quarter. Cooke & Bieler LP purchased a new stake in shares of Ryman Hospitality Properties during the fourth quarter valued at $74,811,000. Hamlin Capital Management LLC bought a new position in shares of Ryman Hospitality Properties in the fourth quarter worth about $65,142,000. Norges Bank purchased a new position in Ryman Hospitality Properties in the 4th quarter worth about $29,448,000. Finally, Victory Capital Management Inc. lifted its holdings in Ryman Hospitality Properties by 87.3% during the 4th quarter. Victory Capital Management Inc. now owns 547,639 shares of the real estate investment trust’s stock valued at $57,141,000 after buying an additional 255,229 shares in the last quarter. 94.48% of the stock is owned by hedge funds and other institutional investors.

Ryman Hospitality Properties Price Performance

Shares of NYSE RHP opened at $84.84 on Friday. Ryman Hospitality Properties, Inc. has a fifty-two week low of $80.47 and a fifty-two week high of $121.77. The company has a debt-to-equity ratio of 6.07, a quick ratio of 1.73 and a current ratio of 1.73. The company has a market cap of $5.08 billion, a PE ratio of 19.33, a P/E/G ratio of 2.71 and a beta of 1.65. The business has a 50-day simple moving average of $98.59 and a two-hundred day simple moving average of $105.73.

Ryman Hospitality Properties (NYSE:RHP) last released its earnings results on Thursday, February 20th. The real estate investment trust reported $2.15 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.94. Ryman Hospitality Properties had a net margin of 11.61% and a return on equity of 49.23%. The company had revenue of $647.63 million during the quarter, compared to analysts’ expectations of $656.01 million. As a group, equities analysts expect that Ryman Hospitality Properties, Inc. will post 8.81 EPS for the current fiscal year.

Ryman Hospitality Properties Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 5.42%. The ex-dividend date of this dividend is Monday, March 31st. Ryman Hospitality Properties’s payout ratio is 104.78%.

Insider Buying and Selling

In other news, Chairman Colin V. Reed bought 8,231 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The shares were purchased at an average price of $97.54 per share, for a total transaction of $802,851.74. Following the completion of the transaction, the chairman now directly owns 832,260 shares in the company, valued at approximately $81,178,640.40. This represents a 1.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Alvin L. Bowles, Jr. sold 473 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $97.03, for a total transaction of $45,895.19. Following the transaction, the director now directly owns 2,675 shares of the company’s stock, valued at $259,555.25. This represents a 15.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

RHP has been the topic of several research reports. BMO Capital Markets assumed coverage on Ryman Hospitality Properties in a research note on Monday, December 9th. They set an “outperform” rating and a $133.00 price target on the stock. StockNews.com raised Ryman Hospitality Properties from a “sell” rating to a “hold” rating in a research report on Saturday, March 1st. Truist Financial reduced their price target on Ryman Hospitality Properties from $133.00 to $127.00 and set a “buy” rating for the company in a research report on Friday, March 21st. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $100.00 price objective on shares of Ryman Hospitality Properties in a research report on Friday, December 13th. Finally, Wells Fargo & Company reduced their target price on shares of Ryman Hospitality Properties from $130.00 to $122.00 and set an “overweight” rating for the company in a report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $124.67.

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.