State Street Corp Decreases Position in Ryman Hospitality Properties, Inc. (NYSE:RHP)

State Street Corp trimmed its position in Ryman Hospitality Properties, Inc. (NYSE:RHP - Free Report) by 1.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,522,502 shares of the real estate investment trust's stock after selling 30,225 shares during the quarter. State Street Corp owned 4.21% of Ryman Hospitality Properties worth $273,272,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Quarry LP purchased a new stake in Ryman Hospitality Properties during the third quarter worth $28,000. Fifth Third Bancorp lifted its position in Ryman Hospitality Properties by 347.6% during the second quarter. Fifth Third Bancorp now owns 282 shares of the real estate investment trust's stock valued at $28,000 after acquiring an additional 219 shares during the last quarter. SYSTM Wealth Solutions LLC acquired a new stake in Ryman Hospitality Properties in the second quarter valued at approximately $32,000. Quest Partners LLC grew its holdings in Ryman Hospitality Properties by 8,450.0% in the second quarter. Quest Partners LLC now owns 342 shares of the real estate investment trust's stock worth $34,000 after purchasing an additional 338 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Ryman Hospitality Properties by 34.6% during the 3rd quarter. GAMMA Investing LLC now owns 401 shares of the real estate investment trust's stock valued at $43,000 after purchasing an additional 103 shares during the last quarter. 94.48% of the stock is owned by hedge funds and other institutional investors.

Ryman Hospitality Properties Stock Performance

RHP traded down $0.44 during trading on Wednesday, reaching $117.04. 442,169 shares of the company's stock were exchanged, compared to its average volume of 453,054. The company has a debt-to-equity ratio of 6.07, a current ratio of 1.73 and a quick ratio of 1.73. Ryman Hospitality Properties, Inc. has a 1 year low of $93.76 and a 1 year high of $122.91. The company's fifty day simple moving average is $112.30 and its 200-day simple moving average is $105.48. The stock has a market capitalization of $7.01 billion, a P/E ratio of 20.88, a price-to-earnings-growth ratio of 2.98 and a beta of 1.65.

Ryman Hospitality Properties (NYSE:RHP - Get Free Report) last issued its earnings results on Monday, November 4th. The real estate investment trust reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.83 by ($0.89). Ryman Hospitality Properties had a return on equity of 61.94% and a net margin of 14.84%. The business had revenue of $549.90 million for the quarter, compared to analysts' expectations of $545.93 million. During the same period last year, the business earned $1.73 EPS. The company's revenue for the quarter was up 4.0% on a year-over-year basis. As a group, research analysts predict that Ryman Hospitality Properties, Inc. will post 8.44 earnings per share for the current fiscal year.

Ryman Hospitality Properties Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a $1.15 dividend. This is an increase from Ryman Hospitality Properties's previous quarterly dividend of $1.10. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.93%. Ryman Hospitality Properties's dividend payout ratio is presently 78.15%.

Analysts Set New Price Targets

RHP has been the topic of several research analyst reports. Wells Fargo & Company boosted their target price on Ryman Hospitality Properties from $124.00 to $130.00 and gave the stock an "overweight" rating in a research note on Monday. Truist Financial upped their price objective on shares of Ryman Hospitality Properties from $130.00 to $136.00 and gave the company a "buy" rating in a report on Monday, November 18th. BMO Capital Markets began coverage on shares of Ryman Hospitality Properties in a research note on Monday. They issued an "outperform" rating and a $133.00 target price for the company. Finally, Jefferies Financial Group initiated coverage on shares of Ryman Hospitality Properties in a report on Wednesday, November 6th. They issued a "buy" rating and a $130.00 price target for the company. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $129.29.

Insider Activity at Ryman Hospitality Properties

In related news, Director Fazal F. Merchant sold 1,269 shares of Ryman Hospitality Properties stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $113.98, for a total value of $144,640.62. Following the completion of the transaction, the director now owns 4,825 shares in the company, valued at $549,953.50. The trade was a 20.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Alvin L. Bowles, Jr. sold 900 shares of the stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $107.32, for a total value of $96,588.00. Following the transaction, the director now owns 3,148 shares in the company, valued at $337,843.36. This trade represents a 22.23 % decrease in their position. The disclosure for this sale can be found here. 3.00% of the stock is owned by company insiders.

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.