Commerce Bank Sells 1,365 Shares of Ryman Hospitality Properties, Inc. (NYSE:RHP)

Commerce Bank decreased its stake in Ryman Hospitality Properties, Inc. (NYSE:RHP) by 22.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,600 shares of the real estate investment trust’s stock after selling 1,365 shares during the period. Commerce Bank’s holdings in Ryman Hospitality Properties were worth $493,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of RHP. Principal Financial Group Inc. raised its position 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 worth $221,896,000 after acquiring an additional 1,466,220 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Ryman Hospitality Properties by 264.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,199,392 shares of the real estate investment trust’s stock worth $119,771,000 after purchasing an additional 870,081 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Ryman Hospitality Properties by 3,800.4% in the 3rd quarter. Victory Capital Management Inc. now owns 292,410 shares of the real estate investment trust’s stock valued at $31,358,000 after purchasing an additional 284,913 shares during the period. Reinhart Partners LLC. lifted its stake in Ryman Hospitality Properties by 55.5% in the 3rd quarter. Reinhart Partners LLC. now owns 383,026 shares of the real estate investment trust’s stock valued at $41,076,000 after purchasing an additional 136,756 shares during the last quarter. Finally, Duff & Phelps Investment Management Co. grew its holdings in Ryman Hospitality Properties by 24.9% during the second quarter. Duff & Phelps Investment Management Co. now owns 552,346 shares of the real estate investment trust’s stock worth $55,157,000 after purchasing an additional 110,027 shares during the period. Institutional investors own 94.48% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on RHP. Truist Financial upped their price objective on Ryman Hospitality Properties from $130.00 to $136.00 and gave the company a “buy” rating in a research note on Monday, November 18th. 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 objective on the stock. StockNews.com upgraded shares of Ryman Hospitality Properties from a “sell” rating to a “hold” rating in a research note on Friday, August 9th. Wells Fargo & Company decreased their price target on shares of Ryman Hospitality Properties from $127.00 to $115.00 and set an “overweight” rating on the stock in a research note on Friday, September 13th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Ryman Hospitality Properties from $104.00 to $105.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $126.17.

Insider Transactions at Ryman Hospitality Properties

In other Ryman Hospitality Properties news, Director Fazal F. Merchant sold 1,269 shares of the stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $113.98, for a total transaction of $144,640.62. Following the sale, the director now directly owns 4,825 shares in the company, valued at $549,953.50. This represents a 20.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Alvin L. Bowles, Jr. sold 900 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $107.32, for a total transaction of $96,588.00. Following the completion of the transaction, the director now owns 3,148 shares of the company’s stock, valued at $337,843.36. The trade was a 22.23 % 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 insiders.

Ryman Hospitality Properties Price Performance

NYSE:RHP opened at $117.04 on Wednesday. Ryman Hospitality Properties, Inc. has a 52 week low of $93.76 and a 52 week high of $122.91. 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 firm’s 50-day simple moving average is $110.23 and its 200 day simple moving average is $104.51. The firm has a market cap of $7.01 billion, a price-to-earnings ratio of 20.79, a P/E/G ratio of 2.03 and a beta of 1.65.

Ryman Hospitality Properties (NYSE:RHP) last announced its earnings results on Monday, November 4th. The real estate investment trust reported $0.94 EPS for the quarter, missing the consensus estimate of $1.83 by ($0.89). The business had revenue of $549.90 million for the quarter, compared to the consensus estimate of $545.93 million. Ryman Hospitality Properties had a return on equity of 61.94% and a net margin of 14.84%. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.73 earnings per share. As a group, sell-side analysts predict that Ryman Hospitality Properties, Inc. will post 8.44 earnings per share for the current 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 given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.93%. 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. Ryman Hospitality Properties’s dividend payout ratio is presently 81.71%.

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.