Raymond James Financial Inc. Purchases Shares of 229,973 Ryman Hospitality Properties, Inc. (NYSE:RHP)

Raymond James Financial Inc. purchased a new stake in Ryman Hospitality Properties, Inc. (NYSE:RHP) during the fourth quarter, HoldingsChannel.com reports. The firm purchased 229,973 shares of the real estate investment trust’s stock, valued at approximately $23,995,000.

A number of other hedge funds also recently made changes to their positions in the stock. Arizona State Retirement System boosted its holdings in shares of Ryman Hospitality Properties by 0.8% in the 4th quarter. Arizona State Retirement System now owns 16,515 shares of the real estate investment trust’s stock valued at $1,723,000 after purchasing an additional 132 shares during the last quarter. M&T Bank Corp boosted its holdings in shares of Ryman Hospitality Properties by 15.7% in the 4th quarter. M&T Bank Corp now owns 6,573 shares of the real estate investment trust’s stock valued at $686,000 after purchasing an additional 892 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Ryman Hospitality Properties by 87.3% during the 4th quarter. Victory Capital Management Inc. now owns 547,639 shares of the real estate investment trust’s stock valued at $57,141,000 after acquiring an additional 255,229 shares in the last quarter. Keybank National Association OH acquired a new position in shares of Ryman Hospitality Properties during the 4th quarter valued at $329,000. Finally, Nicola Wealth Management LTD. acquired a new position in shares of Ryman Hospitality Properties during the 4th quarter valued at $1,075,000. Institutional investors and hedge funds own 94.48% of the company’s stock.

Ryman Hospitality Properties Stock Performance

Ryman Hospitality Properties stock opened at $96.67 on Friday. Ryman Hospitality Properties, Inc. has a 12-month low of $93.17 and a 12-month high of $121.77. The company has a market capitalization of $5.79 billion, a price-to-earnings ratio of 22.02, a price-to-earnings-growth ratio of 2.71 and a beta of 1.65. 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’s fifty day moving average price is $101.60 and its 200 day moving average price is $106.57.

Ryman Hospitality Properties (NYSE:RHP) last released its earnings results on Thursday, February 20th. The real estate investment trust reported $2.15 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.94. The company had revenue of $647.63 million during the quarter, compared to the consensus estimate of $656.01 million. Ryman Hospitality Properties had a net margin of 11.61% and a return on equity of 49.23%. On average, research analysts forecast that Ryman Hospitality Properties, Inc. will post 8.81 EPS for the current fiscal year.

Ryman Hospitality Properties Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 4.76%. The ex-dividend date is Monday, March 31st. Ryman Hospitality Properties’s payout ratio is currently 104.78%.

Insider Transactions at Ryman Hospitality Properties

In related news, Chairman Colin V. Reed bought 8,231 shares of the company’s stock in a transaction dated Wednesday, February 26th. The stock was bought at an average price of $97.54 per share, with a total value of $802,851.74. Following the transaction, the chairman now owns 832,260 shares of the company’s stock, valued at approximately $81,178,640.40. This trade represents a 1.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Alvin L. Bowles, Jr. sold 473 shares of the business’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $97.03, for a total transaction of $45,895.19. Following the sale, the director now directly owns 2,675 shares of the company’s stock, valued at approximately $259,555.25. This represents a 15.03 % decrease in their position. The disclosure for this sale can be found here. Insiders own 3.00% of the company’s stock.

Wall Street Analysts Forecast Growth

RHP has been the topic of several recent research reports. Truist Financial restated a “buy” rating and set a $133.00 target price (down previously from $136.00) on shares of Ryman Hospitality Properties in a report on Tuesday, February 25th. Wells Fargo & Company reduced their target price on shares of Ryman Hospitality Properties from $130.00 to $122.00 and set an “overweight” rating on the stock in a report on Tuesday, February 18th. StockNews.com upgraded shares of Ryman Hospitality Properties from a “sell” rating to a “hold” rating in a report on Saturday, March 1st. BMO Capital Markets initiated coverage on shares of Ryman Hospitality Properties in a report on Monday, December 9th. They set an “outperform” rating and a $133.00 target price on the stock. Finally, JPMorgan Chase & Co. restated an “underweight” rating and set a $100.00 target price on shares of Ryman Hospitality Properties in a report on Friday, December 13th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $125.67.

Ryman Hospitality Properties Company 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.