Strs Ohio Lowers Stake in Ryman Hospitality Properties, Inc. (NYSE:RHP)

Strs Ohio cut its holdings in shares of Ryman Hospitality Properties, Inc. (NYSE:RHP) by 24.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 74,124 shares of the real estate investment trust’s stock after selling 23,600 shares during the period. Strs Ohio’s holdings in Ryman Hospitality Properties were worth $8,158,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Heitman Real Estate Securities LLC purchased a new stake in shares of Ryman Hospitality Properties in the second quarter valued at approximately $44,566,000. BlackRock Inc. increased its holdings in Ryman Hospitality Properties by 8.5% in the 1st quarter. BlackRock Inc. now owns 5,908,332 shares of the real estate investment trust’s stock worth $530,155,000 after acquiring an additional 464,016 shares in the last quarter. Norges Bank acquired a new position in Ryman Hospitality Properties during the fourth quarter worth $32,747,000. Millennium Management LLC lifted its holdings in Ryman Hospitality Properties by 105.1% during the fourth quarter. Millennium Management LLC now owns 749,853 shares of the real estate investment trust’s stock valued at $61,323,000 after purchasing an additional 384,336 shares in the last quarter. Finally, State Street Corp grew its position in shares of Ryman Hospitality Properties by 14.6% in the first quarter. State Street Corp now owns 2,640,373 shares of the real estate investment trust’s stock valued at $244,947,000 after purchasing an additional 336,493 shares during the period. Hedge funds and other institutional investors own 94.48% of the company’s stock.

Insider Activity

In related news, COO Patrick S. Chaffin sold 16,189 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $119.74, for a total transaction of $1,938,470.86. Following the completion of the sale, the chief operating officer now directly owns 17,618 shares in the company, valued at $2,109,579.32. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 3.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on RHP. Truist Financial upped their price target on shares of Ryman Hospitality Properties from $134.00 to $135.00 and gave the stock a “buy” rating in a research report on Thursday, March 14th. Wells Fargo & Company increased their target price on Ryman Hospitality Properties from $125.00 to $133.00 and gave the company an “overweight” rating in a report on Thursday, March 21st. Raymond James lifted their price target on Ryman Hospitality Properties from $115.00 to $135.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. Finally, StockNews.com raised Ryman Hospitality Properties from a “sell” rating to a “hold” rating in a research note on Friday, February 23rd. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Ryman Hospitality Properties currently has an average rating of “Moderate Buy” and an average price target of $118.00.

Ryman Hospitality Properties Stock Performance

Shares of Ryman Hospitality Properties stock opened at $106.40 on Thursday. The business’s 50 day moving average price is $115.90 and its 200 day moving average price is $105.83. The company has a market cap of $6.37 billion, a price-to-earnings ratio of 20.54, a PEG ratio of 0.76 and a beta of 1.57. The company has a debt-to-equity ratio of 5.90, a quick ratio of 1.97 and a current ratio of 1.97. Ryman Hospitality Properties, Inc. has a one year low of $79.86 and a one year high of $122.91.

Ryman Hospitality Properties Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were issued a dividend of $1.10 per share. The ex-dividend date was Wednesday, March 27th. This represents a $4.40 annualized dividend and a dividend yield of 4.14%. Ryman Hospitality Properties’s dividend payout ratio is presently 84.94%.

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.