Sumitomo Mitsui Trust Group Inc. Buys 10,917 Shares of Ryman Hospitality Properties, Inc. (NYSE:RHP)

Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Ryman Hospitality Properties, Inc. (NYSE:RHP) by 13.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 94,412 shares of the real estate investment trust’s stock after acquiring an additional 10,917 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.16% of Ryman Hospitality Properties worth $8,633,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in RHP. Cooke & Bieler LP bought a new stake in Ryman Hospitality Properties during the 4th quarter worth about $74,811,000. Janus Henderson Group PLC grew its holdings in Ryman Hospitality Properties by 946.6% during the 4th quarter. Janus Henderson Group PLC now owns 502,983 shares of the real estate investment trust’s stock worth $52,455,000 after acquiring an additional 454,922 shares during the last quarter. Norges Bank bought a new stake in Ryman Hospitality Properties during the 4th quarter worth about $29,448,000. Adelante Capital Management LLC grew its holdings in Ryman Hospitality Properties by 340.1% during the 4th quarter. Adelante Capital Management LLC now owns 348,890 shares of the real estate investment trust’s stock worth $36,403,000 after acquiring an additional 269,623 shares during the last quarter. Finally, Victory Capital Management Inc. grew its holdings in 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 worth $57,141,000 after acquiring an additional 255,229 shares during the last quarter. Institutional investors own 94.48% of the company’s stock.

Ryman Hospitality Properties Stock Performance

Shares of NYSE:RHP opened at $103.14 on Friday. The company has a market capitalization of $6.19 billion, a price-to-earnings ratio of 21.85, a P/E/G ratio of 2.79 and a beta of 1.57. The firm’s 50 day simple moving average is $96.82 and its 200 day simple moving average is $97.59. The company has a debt-to-equity ratio of 5.92, a current ratio of 1.55 and a quick ratio of 1.55. Ryman Hospitality Properties, Inc. has a fifty-two week low of $76.27 and a fifty-two week high of $121.77.

Ryman Hospitality Properties (NYSE:RHP) last announced its quarterly earnings results on Thursday, May 1st. The real estate investment trust reported $2.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.79 by $0.29. The business had revenue of $587.28 million for the quarter, compared to the consensus estimate of $546.52 million. Ryman Hospitality Properties had a net margin of 12.16% and a return on equity of 51.95%. Ryman Hospitality Properties’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same period last year, the company posted $1.60 EPS. As a group, sell-side analysts forecast that Ryman Hospitality Properties, Inc. will post 8.81 earnings per share for the current year.

Ryman Hospitality Properties Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be issued a dividend of $1.15 per share. The ex-dividend date is Monday, June 30th. This represents a $4.60 annualized dividend and a yield of 4.46%. Ryman Hospitality Properties’s dividend payout ratio (DPR) is currently 97.46%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on RHP shares. Evercore ISI cut their target price on shares of Ryman Hospitality Properties from $130.00 to $120.00 and set an “outperform” rating on the stock in a research report on Monday, April 28th. Wells Fargo & Company restated an “overweight” rating and set a $101.00 target price (up from $99.00) on shares of Ryman Hospitality Properties in a research report on Thursday, May 22nd. Jefferies Financial Group cut their target price on shares of Ryman Hospitality Properties from $118.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, April 9th. JPMorgan Chase & Co. started coverage on shares of Ryman Hospitality Properties in a research report on Monday, June 23rd. They set an “overweight” rating and a $117.00 target price on the stock. Finally, Truist Financial cut their target price on shares of Ryman Hospitality Properties from $127.00 to $120.00 and set a “buy” rating on the stock in a research report on Friday, May 30th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $114.43.

Insider Activity at Ryman Hospitality Properties

In related news, Chairman Colin V. Reed bought 8,356 shares of the company’s stock in a transaction on Monday, June 9th. The shares were purchased at an average cost of $96.92 per share, for a total transaction of $809,863.52. Following the acquisition, the chairman owned 870,406 shares of the company’s stock, valued at approximately $84,359,749.52. This represents a 0.97% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Alvin L. Bowles, Jr. sold 1,300 shares of the firm’s stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $99.01, for a total transaction of $128,713.00. Following the sale, the director owned 2,576 shares in the company, valued at $255,049.76. This trade represents a 33.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 5.00% of the company’s stock.

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.