The Manufacturers Life Insurance Company Sells 6,897 Shares of Ryman Hospitality Properties, Inc. (NYSE:RHP)

The Manufacturers Life Insurance Company reduced its position in shares of Ryman Hospitality Properties, Inc. (NYSE:RHP) by 16.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 34,591 shares of the real estate investment trust’s stock after selling 6,897 shares during the period. The Manufacturers Life Insurance Company’s holdings in Ryman Hospitality Properties were worth $3,710,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Fifth Third Bancorp raised its holdings in Ryman Hospitality Properties by 347.6% in the 2nd quarter. Fifth Third Bancorp now owns 282 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 219 shares in the last quarter. SYSTM Wealth Solutions LLC bought a new position in Ryman Hospitality Properties in the second quarter worth about $32,000. Quest Partners LLC raised its stake 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 buying an additional 338 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Ryman Hospitality Properties by 34.6% in the third quarter. GAMMA Investing LLC now owns 401 shares of the real estate investment trust’s stock worth $43,000 after buying an additional 103 shares during the period. Finally, Avior Wealth Management LLC boosted its position in Ryman Hospitality Properties by 44.9% during the 3rd quarter. Avior Wealth Management LLC now owns 442 shares of the real estate investment trust’s stock valued at $47,000 after acquiring an additional 137 shares in the last quarter. 94.48% of the stock is owned by institutional investors.

Ryman Hospitality Properties Stock Performance

NYSE:RHP opened at $118.25 on Friday. The company has a debt-to-equity ratio of 6.07, a current ratio of 1.73 and a quick ratio of 1.73. The company has a market cap of $7.08 billion, a price-to-earnings ratio of 21.00, a PEG ratio of 2.98 and a beta of 1.65. Ryman Hospitality Properties, Inc. has a 1 year low of $93.76 and a 1 year high of $122.91. The stock’s 50 day simple moving average is $111.88 and its two-hundred day simple moving average is $105.27.

Ryman Hospitality Properties (NYSE:RHP) last issued its quarterly earnings data on Monday, November 4th. The real estate investment trust reported $0.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.83 by ($0.89). Ryman Hospitality Properties had a net margin of 14.84% and a return on equity of 61.94%. The company had revenue of $549.90 million for the quarter, compared to analysts’ expectations of $545.93 million. During the same quarter last year, the company earned $1.73 earnings per share. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. As a group, equities analysts anticipate 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 dividend of $1.15 per share. This is a positive change from Ryman Hospitality Properties’s previous quarterly dividend of $1.10. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.89%. The ex-dividend date of this dividend is Tuesday, December 31st. Ryman Hospitality Properties’s payout ratio is currently 81.71%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on RHP shares. Wells Fargo & Company decreased their price objective on Ryman Hospitality Properties from $127.00 to $115.00 and set an “overweight” rating for the company in a report on Friday, September 13th. Truist Financial increased their price target on shares of Ryman Hospitality Properties from $130.00 to $136.00 and gave the stock a “buy” rating in a research note on Monday, November 18th. Finally, Jefferies Financial Group initiated coverage on shares of Ryman Hospitality Properties in a research note on Wednesday, November 6th. They set a “buy” rating and a $130.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently 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 Alvin L. Bowles, Jr. sold 900 shares of Ryman Hospitality Properties stock in a transaction dated Thursday, September 19th. The stock was 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. The trade was a 22.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Fazal F. Merchant sold 1,269 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at $549,953.50. The trade was a 20.82 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 3.00% of the company’s stock.

Ryman Hospitality Properties 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.