Principal Financial Group Inc. Lowers Position in Ryman Hospitality Properties, Inc. (NYSE:RHP)

Principal Financial Group Inc. decreased its position in shares of Ryman Hospitality Properties, Inc. (NYSE:RHPFree Report) by 11.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,040 shares of the real estate investment trust’s stock after selling 785 shares during the quarter. Principal Financial Group Inc.’s holdings in Ryman Hospitality Properties were worth $503,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Asset Management One Co. Ltd. grew its stake in shares of Ryman Hospitality Properties by 10.4% during the 2nd quarter. Asset Management One Co. Ltd. now owns 96,377 shares of the real estate investment trust’s stock worth $8,955,000 after purchasing an additional 9,101 shares during the period. Mackenzie Financial Corp grew its stake in shares of Ryman Hospitality Properties by 7.7% during the 2nd quarter. Mackenzie Financial Corp now owns 8,763 shares of the real estate investment trust’s stock worth $831,000 after purchasing an additional 629 shares during the period. Knights of Columbus Asset Advisors LLC lifted its position in shares of Ryman Hospitality Properties by 0.6% during the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 47,695 shares of the real estate investment trust’s stock valued at $3,972,000 after buying an additional 296 shares in the last quarter. HGI Capital Management LLC purchased a new position in shares of Ryman Hospitality Properties during the 2nd quarter valued at approximately $5,198,000. Finally, Epoch Investment Partners Inc. lifted its position in shares of Ryman Hospitality Properties by 0.5% during the 2nd quarter. Epoch Investment Partners Inc. now owns 78,119 shares of the real estate investment trust’s stock valued at $7,259,000 after buying an additional 389 shares in the last quarter. Institutional investors and hedge funds own 91.23% of the company’s stock.

Ryman Hospitality Properties Stock Performance

Shares of RHP opened at $114.56 on Monday. The stock has a 50-day simple moving average of $110.33 and a 200-day simple moving average of $95.99. The company has a debt-to-equity ratio of 7.12, a quick ratio of 1.83 and a current ratio of 1.83. The stock has a market capitalization of $6.84 billion, a PE ratio of 29.83, a PEG ratio of 1.35 and a beta of 1.57. Ryman Hospitality Properties, Inc. has a 1 year low of $77.18 and a 1 year high of $115.56.

Ryman Hospitality Properties Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Friday, December 29th were paid a dividend of $1.10 per share. This is a boost from Ryman Hospitality Properties’s previous quarterly dividend of $1.00. The ex-dividend date was Thursday, December 28th. This represents a $4.40 annualized dividend and a yield of 3.84%. Ryman Hospitality Properties’s payout ratio is presently 114.58%.

Insider Buying and Selling

In related news, COO Patrick S. Chaffin sold 1,380 shares of the business’s stock in a transaction that occurred on Tuesday, December 19th. The stock was sold at an average price of $109.63, for a total transaction of $151,289.40. Following the completion of the sale, the chief operating officer now owns 33,807 shares in the company, valued at $3,706,261.41. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Ryman Hospitality Properties news, Chairman Colin V. Reed sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $96.84, for a total value of $1,452,600.00. Following the completion of the sale, the chairman now owns 301,414 shares in the company, valued at $29,188,931.76. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, COO Patrick S. Chaffin sold 1,380 shares of the business’s stock in a transaction that occurred on Tuesday, December 19th. The shares were sold at an average price of $109.63, for a total value of $151,289.40. Following the completion of the sale, the chief operating officer now owns 33,807 shares of the company’s stock, valued at approximately $3,706,261.41. The disclosure for this sale can be found here. Insiders sold a total of 31,380 shares of company stock worth $3,054,689 over the last 90 days. 3.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

RHP has been the topic of a number of research reports. Raymond James raised their price objective on Ryman Hospitality Properties from $115.00 to $135.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. StockNews.com upgraded Ryman Hospitality Properties from a “sell” rating to a “hold” rating in a report on Thursday, February 1st. Wells Fargo & Company lifted their price target on Ryman Hospitality Properties from $114.00 to $125.00 and gave the stock an “overweight” rating in a report on Friday, December 22nd. Truist Financial raised their price objective on Ryman Hospitality Properties from $124.00 to $134.00 and gave the stock a “buy” rating in a research report on Friday, January 12th. Finally, JPMorgan Chase & Co. raised Ryman Hospitality Properties from an “underweight” rating to a “neutral” rating and raised their price objective for the stock from $89.00 to $102.00 in a research report on Thursday, December 14th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $116.71.

Check Out Our Latest Research Report on RHP

Ryman Hospitality Properties Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Ryman Hospitality Properties (NYSE:RHP)

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