Allspring Global Investments Holdings LLC decreased its holdings in shares of Ryman Hospitality Properties, Inc. (NYSE:RHP - Free Report) by 58.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,853 shares of the real estate investment trust's stock after selling 6,762 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Ryman Hospitality Properties were worth $520,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently added to or reduced their stakes in RHP. Raymond James & Associates lifted its position in Ryman Hospitality Properties by 34.3% during the 3rd quarter. Raymond James & Associates now owns 25,679 shares of the real estate investment trust's stock worth $2,754,000 after acquiring an additional 6,563 shares in the last quarter. Schubert & Co purchased a new stake in shares of Ryman Hospitality Properties during the third quarter valued at approximately $582,000. Blue Trust Inc. lifted its position in shares of Ryman Hospitality Properties by 183.1% during the third quarter. Blue Trust Inc. now owns 685 shares of the real estate investment trust's stock worth $68,000 after purchasing an additional 443 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of Ryman Hospitality Properties by 8.4% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 11,414 shares of the real estate investment trust's stock valued at $1,224,000 after purchasing an additional 885 shares during the period. Finally, Kapitalo Investimentos Ltda grew its holdings in Ryman Hospitality Properties by 57.7% during the 3rd quarter. Kapitalo Investimentos Ltda now owns 3,503 shares of the real estate investment trust's stock valued at $376,000 after purchasing an additional 1,282 shares in the last quarter. 94.48% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of equities analysts have commented on the stock. Wells Fargo & Company cut their price objective on shares of Ryman Hospitality Properties from $127.00 to $115.00 and set an "overweight" rating on the stock in a report on Friday, September 13th. JPMorgan Chase & Co. increased their price target on Ryman Hospitality Properties from $104.00 to $105.00 and gave the company a "neutral" rating in a report on Friday, August 2nd. Finally, StockNews.com upgraded Ryman Hospitality Properties from a "sell" rating to a "hold" rating in a report on Friday, August 9th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $124.20.
Check Out Our Latest Stock Analysis on Ryman Hospitality Properties
Ryman Hospitality Properties Stock Up 0.4 %
NYSE:RHP traded up $0.48 during mid-day trading on Friday, reaching $107.53. The stock had a trading volume of 525,061 shares, compared to its average volume of 450,178. The company has a debt-to-equity ratio of 5.96, a current ratio of 1.92 and a quick ratio of 1.92. The company has a market capitalization of $6.44 billion, a price-to-earnings ratio of 20.17, a price-to-earnings-growth ratio of 2.09 and a beta of 1.66. Ryman Hospitality Properties, Inc. has a 1-year low of $87.25 and a 1-year high of $122.91. The stock's 50 day simple moving average is $106.66 and its two-hundred day simple moving average is $103.78.
Ryman Hospitality Properties Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a $1.10 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $4.40 annualized dividend and a dividend yield of 4.09%. Ryman Hospitality Properties's payout ratio is 82.55%.
Insider Activity at Ryman Hospitality Properties
In other Ryman Hospitality Properties news, Chairman Colin V. Reed purchased 8,077 shares of Ryman Hospitality Properties stock in a transaction dated Tuesday, August 6th. The shares were bought at an average cost of $97.78 per share, for a total transaction of $789,769.06. Following the transaction, the chairman now owns 827,220 shares in the company, valued at $80,885,571.60. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Chairman Colin V. Reed bought 8,077 shares of the stock in a transaction dated Tuesday, August 6th. The stock was bought at an average cost of $97.78 per share, with a total value of $789,769.06. Following the completion of the acquisition, the chairman now owns 827,220 shares of the company's stock, valued at $80,885,571.60. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Alvin L. Bowles, Jr. sold 900 shares of the stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $107.32, for a total value of $96,588.00. Following the sale, the director now owns 3,148 shares in the company, valued at $337,843.36. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 3.00% of the company's stock.
About Ryman Hospitality Properties
(
Free Report)
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.
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