Arizona State Retirement System Boosts Position in Ryman Hospitality Properties, Inc. (NYSE:RHP)

Arizona State Retirement System lifted its position in Ryman Hospitality Properties, Inc. (NYSE:RHP) by 1.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,881 shares of the real estate investment trust’s stock after buying an additional 292 shares during the quarter. Arizona State Retirement System’s holdings in Ryman Hospitality Properties were worth $1,586,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Rhumbline Advisers boosted its holdings in Ryman Hospitality Properties by 7.2% in the 2nd quarter. Rhumbline Advisers now owns 97,623 shares of the real estate investment trust’s stock valued at $9,749,000 after purchasing an additional 6,561 shares during the period. Van ECK Associates Corp raised its position in shares of Ryman Hospitality Properties by 7.2% in the second quarter. Van ECK Associates Corp now owns 8,973 shares of the real estate investment trust’s stock worth $896,000 after buying an additional 601 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Ryman Hospitality Properties by 194.0% during the second quarter. Principal Financial Group Inc. now owns 2,222,077 shares of the real estate investment trust’s stock valued at $221,896,000 after buying an additional 1,466,220 shares during the period. Panagora Asset Management Inc. grew its position in Ryman Hospitality Properties by 11.2% during the second quarter. Panagora Asset Management Inc. now owns 222,745 shares of the real estate investment trust’s stock worth $22,243,000 after buying an additional 22,428 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Ryman Hospitality Properties by 5.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,331 shares of the real estate investment trust’s stock worth $2,430,000 after acquiring an additional 1,217 shares during the last quarter. 94.48% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on RHP shares. JPMorgan Chase & Co. boosted their price objective on shares of Ryman Hospitality Properties from $104.00 to $105.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Truist Financial reduced their price objective on Ryman Hospitality Properties from $135.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday, May 30th. Finally, StockNews.com upgraded Ryman Hospitality Properties from a “sell” rating to a “hold” rating in a report on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Ryman Hospitality Properties currently has a consensus rating of “Moderate Buy” and a consensus price target of $118.71.

Ryman Hospitality Properties Stock Performance

Ryman Hospitality Properties stock opened at $99.52 on Thursday. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 5.96. The firm has a market cap of $5.96 billion, a P/E ratio of 20.60, a P/E/G ratio of 2.11 and a beta of 1.66. Ryman Hospitality Properties, Inc. has a 1-year low of $79.86 and a 1-year high of $122.91. The firm has a 50-day moving average of $100.93 and a 200-day moving average of $105.70.

Ryman Hospitality Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be given a $1.10 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 4.42%. Ryman Hospitality Properties’s dividend payout ratio is currently 91.10%.

Insider Activity

In other Ryman Hospitality Properties news, Chairman Colin V. Reed purchased 8,077 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was bought at an average price of $97.78 per share, with a total value of $789,769.06. Following the completion of the purchase, the chairman now directly owns 827,220 shares of the company’s stock, valued at approximately $80,885,571.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 3.00% of the company’s stock.

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.