Verition Fund Management LLC Takes Position in Ryman Hospitality Properties, Inc. (NYSE:RHP)

Verition Fund Management LLC bought a new stake in shares of Ryman Hospitality Properties, Inc. (NYSE:RHP) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 7,973 shares of the real estate investment trust’s stock, valued at approximately $855,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. PGGM Investments bought a new position in shares of Ryman Hospitality Properties during the 2nd quarter worth about $7,512,000. Panagora Asset Management Inc. increased its position in Ryman Hospitality Properties by 11.2% in the 2nd quarter. Panagora Asset Management Inc. now owns 222,745 shares of the real estate investment trust’s stock valued at $22,243,000 after buying an additional 22,428 shares in the last quarter. American Century Companies Inc. raised its stake in Ryman Hospitality Properties by 0.8% during the 2nd quarter. American Century Companies Inc. now owns 1,586,256 shares of the real estate investment trust’s stock worth $158,404,000 after buying an additional 12,058 shares during the period. Magnetar Financial LLC acquired a new stake in Ryman Hospitality Properties in the second quarter valued at approximately $4,390,000. Finally, Wealth Enhancement Advisory Services LLC grew its stake in Ryman Hospitality Properties by 133.1% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 4,701 shares of the real estate investment trust’s stock valued at $469,000 after acquiring an additional 2,684 shares during the period. 94.48% of the stock is owned by institutional investors.

Ryman Hospitality Properties Stock Performance

Shares of RHP stock opened at $117.98 on Tuesday. 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 firm has a 50-day moving average of $112.09 and a 200-day moving average of $105.38. Ryman Hospitality Properties, Inc. has a one year low of $93.76 and a one year high of $122.91. The company has a market cap of $7.07 billion, a P/E ratio of 20.96, a P/E/G ratio of 2.98 and a beta of 1.65.

Ryman Hospitality Properties (NYSE:RHP) last posted its quarterly earnings data 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). Ryman Hospitality Properties had a net margin of 14.84% and a return on equity of 61.94%. The firm had revenue of $549.90 million during the quarter, compared to analysts’ expectations of $545.93 million. During the same quarter last year, the business posted $1.73 EPS. The company’s quarterly revenue was up 4.0% on a year-over-year basis. Equities research analysts forecast that Ryman Hospitality Properties, Inc. will post 8.44 EPS for the current fiscal year.

Ryman Hospitality Properties Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 3.90%. The ex-dividend date of this dividend is Tuesday, December 31st. This is an increase from Ryman Hospitality Properties’s previous quarterly dividend of $1.10. Ryman Hospitality Properties’s dividend payout ratio is 78.15%.

Analyst Upgrades and Downgrades

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

Insider Activity

In related news, Director Fazal F. Merchant sold 1,269 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $113.98, for a total value of $144,640.62. Following the transaction, the director now owns 4,825 shares in the company, valued at approximately $549,953.50. This represents a 20.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Alvin L. Bowles, Jr. sold 900 shares of the firm’s stock in a transaction 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 completion of the sale, the director now directly owns 3,148 shares of the company’s stock, valued at $337,843.36. This represents a 22.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.