Millennium Management LLC Has $42.15 Million Stake in Ryman Hospitality Properties, Inc. (NYSE:RHP)

Millennium Management LLC trimmed its position in shares of Ryman Hospitality Properties, Inc. (NYSE:RHP) by 10.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 422,124 shares of the real estate investment trust’s stock after selling 50,491 shares during the period. Millennium Management LLC owned 0.70% of Ryman Hospitality Properties worth $42,153,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Employees Retirement System of Texas increased its holdings in Ryman Hospitality Properties by 116.9% during the second quarter. Employees Retirement System of Texas now owns 20,412 shares of the real estate investment trust’s stock worth $2,038,000 after buying an additional 11,000 shares during the last quarter. Armistice Capital LLC boosted its position in Ryman Hospitality Properties by 142.7% during the second quarter. Armistice Capital LLC now owns 60,063 shares of the real estate investment trust’s stock worth $5,998,000 after purchasing an additional 35,319 shares during the period. Point72 Asia Singapore Pte. Ltd. boosted its position in Ryman Hospitality Properties by 58.7% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,514 shares of the real estate investment trust’s stock worth $151,000 after purchasing an additional 560 shares during the period. Aristeia Capital L.L.C. bought a new position in Ryman Hospitality Properties during the second quarter worth $421,000. Finally, Land & Buildings Investment Management LLC boosted its position in Ryman Hospitality Properties by 26.4% during the second quarter. Land & Buildings Investment Management LLC now owns 197,186 shares of the real estate investment trust’s stock worth $19,691,000 after purchasing an additional 41,160 shares during the period. 94.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Ryman Hospitality Properties news, Chairman Colin V. Reed bought 8,077 shares of Ryman Hospitality Properties stock in a transaction dated Tuesday, August 6th. The stock was bought at an average price of $97.78 per share, with a total value of $789,769.06. Following the completion of the transaction, the chairman now owns 827,220 shares in the company, valued at approximately $80,885,571.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Chairman Colin V. Reed acquired 8,077 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was acquired at an average price of $97.78 per share, with a total value of $789,769.06. Following the completion of the transaction, the chairman now directly owns 827,220 shares of the company’s stock, valued at approximately $80,885,571.60. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Alvin L. Bowles, Jr. sold 900 shares of the company’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $107.32, for a total transaction of $96,588.00. Following the sale, the director now directly owns 3,148 shares of the company’s stock, valued at approximately $337,843.36. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by company insiders.

Ryman Hospitality Properties Trading Down 0.2 %

Shares of Ryman Hospitality Properties stock opened at $107.07 on Wednesday. The firm has a 50-day moving average of $102.39 and a 200-day moving average of $104.59. The stock has a market cap of $6.41 billion, a PE ratio of 22.17, a PEG ratio of 2.34 and a beta of 1.66. Ryman Hospitality Properties, Inc. has a 52-week low of $81.36 and a 52-week high of $122.91. The company has a debt-to-equity ratio of 5.96, a quick ratio of 1.92 and a current ratio of 1.92.

Ryman Hospitality Properties Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be given a $1.10 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 4.11%. Ryman Hospitality Properties’s payout ratio is presently 91.10%.

Analysts Set New Price Targets

A number of research firms have commented on RHP. JPMorgan Chase & Co. lifted their price objective on shares of Ryman Hospitality Properties from $104.00 to $105.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. StockNews.com raised shares of Ryman Hospitality Properties from a “sell” rating to a “hold” rating in a research report on Friday, August 9th. Finally, Wells Fargo & Company reduced their price objective on shares of Ryman Hospitality Properties from $127.00 to $115.00 and set an “overweight” rating for the company in a research report on Friday, September 13th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $119.17.

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.