Norges Bank Invests $29.45 Million in Ryman Hospitality Properties, Inc. (NYSE:RHP)

Norges Bank purchased a new position in Ryman Hospitality Properties, Inc. (NYSE:RHP - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 282,231 shares of the real estate investment trust's stock, valued at approximately $29,448,000. Norges Bank owned about 0.47% of Ryman Hospitality Properties at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in RHP. Principal Financial Group Inc. raised its stake in Ryman Hospitality Properties by 3.2% in the 4th quarter. Principal Financial Group Inc. now owns 3,254,693 shares of the real estate investment trust's stock worth $339,596,000 after acquiring an additional 101,333 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Ryman Hospitality Properties by 0.9% in the third quarter. Geode Capital Management LLC now owns 1,458,389 shares of the real estate investment trust's stock valued at $156,427,000 after purchasing an additional 12,323 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Ryman Hospitality Properties by 10.7% in the fourth quarter. JPMorgan Chase & Co. now owns 1,439,719 shares of the real estate investment trust's stock worth $150,220,000 after purchasing an additional 138,771 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Ryman Hospitality Properties by 1.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 979,176 shares of the real estate investment trust's stock worth $102,167,000 after purchasing an additional 14,861 shares during the period. Finally, Cooke & Bieler LP purchased a new stake in Ryman Hospitality Properties in the fourth quarter valued at approximately $74,811,000. 94.48% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Ryman Hospitality Properties Price Performance

Shares of NYSE:RHP traded up $1.93 during trading on Friday, reaching $85.40. 846,013 shares of the company's stock traded hands, compared to its average volume of 602,549. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 6.07. Ryman Hospitality Properties, Inc. has a fifty-two week low of $76.27 and a fifty-two week high of $121.77. The company has a 50-day simple moving average of $95.52 and a 200-day simple moving average of $104.48. The firm has a market cap of $5.12 billion, a PE ratio of 19.45, a P/E/G ratio of 2.71 and a beta of 1.38.

Ryman Hospitality Properties (NYSE:RHP - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The real estate investment trust reported $2.15 EPS for the quarter, beating the consensus estimate of $1.21 by $0.94. The company had revenue of $647.63 million for the quarter, compared to analyst estimates of $656.01 million. Ryman Hospitality Properties had a return on equity of 49.23% and a net margin of 11.61%. As a group, analysts predict that Ryman Hospitality Properties, Inc. will post 8.81 earnings per share for the current year.

Ryman Hospitality Properties Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 5.39%. The ex-dividend date of this dividend is Monday, March 31st. Ryman Hospitality Properties's payout ratio is presently 104.78%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Wells Fargo & Company dropped their price objective on shares of Ryman Hospitality Properties from $130.00 to $122.00 and set an "overweight" rating on the stock in a report on Tuesday, February 18th. Truist Financial cut their price target on Ryman Hospitality Properties from $133.00 to $127.00 and set a "buy" rating on the stock in a research report on Friday, March 21st. JPMorgan Chase & Co. reissued an "underweight" rating and issued a $100.00 price objective on shares of Ryman Hospitality Properties in a report on Friday, December 13th. Jefferies Financial Group dropped their target price on Ryman Hospitality Properties from $118.00 to $100.00 and set a "buy" rating on the stock in a report on Wednesday. Finally, StockNews.com raised Ryman Hospitality Properties from a "sell" rating to a "hold" rating in a report on Saturday, March 1st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Ryman Hospitality Properties currently has a consensus rating of "Moderate Buy" and a consensus target price of $119.67.

Insiders Place Their Bets

In other news, Chairman Colin V. Reed acquired 8,231 shares of the stock in a transaction that occurred on Wednesday, February 26th. The shares were bought at an average cost of $97.54 per share, for a total transaction of $802,851.74. Following the acquisition, the chairman now owns 832,260 shares in the company, valued at approximately $81,178,640.40. This represents a 1.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Alvin L. Bowles, Jr. sold 473 shares of the business'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 value of $45,895.19. Following the sale, the director now owns 2,675 shares of the company's stock, valued at approximately $259,555.25. This trade 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.

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.