JPMorgan Chase & Co. Lowers Holdings in Ryman Hospitality Properties, Inc. (NYSE:RHP)

JPMorgan Chase & Co. lowered its position in shares of Ryman Hospitality Properties, Inc. (NYSE:RHP) by 8.4% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,300,948 shares of the real estate investment trust’s stock after selling 118,815 shares during the quarter. JPMorgan Chase & Co. owned 2.17% of Ryman Hospitality Properties worth $139,514,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Tidal Investments LLC boosted its stake in shares of Ryman Hospitality Properties by 2.1% in the third quarter. Tidal Investments LLC now owns 7,264 shares of the real estate investment trust’s stock valued at $779,000 after buying an additional 152 shares in the last quarter. Sanctuary Advisors LLC grew its stake in shares of Ryman Hospitality Properties by 121.1% during the 3rd quarter. Sanctuary Advisors LLC now owns 6,433 shares of the real estate investment trust’s stock worth $744,000 after purchasing an additional 3,523 shares during the period. Teachers Retirement System of The State of Kentucky increased its holdings in shares of Ryman Hospitality Properties by 33.8% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 24,486 shares of the real estate investment trust’s stock valued at $2,626,000 after purchasing an additional 6,186 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Ryman Hospitality Properties by 0.9% in the third quarter. Geode Capital Management LLC now owns 1,458,389 shares of the real estate investment trust’s stock valued at $156,427,000 after purchasing an additional 12,323 shares during the period. Finally, Vestcor Inc boosted its holdings in Ryman Hospitality Properties by 92.4% during the third quarter. Vestcor Inc now owns 29,989 shares of the real estate investment trust’s stock worth $3,216,000 after buying an additional 14,400 shares in the last quarter. Institutional investors and hedge funds own 94.48% of the company’s stock.

Ryman Hospitality Properties Trading Down 1.6 %

Shares of Ryman Hospitality Properties stock opened at $104.34 on Thursday. Ryman Hospitality Properties, Inc. has a fifty-two week low of $93.76 and a fifty-two week high of $122.91. The business’s fifty day moving average is $111.71 and its two-hundred day moving average is $106.07. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 6.07. The firm has a market cap of $6.25 billion, a PE ratio of 18.53, a P/E/G ratio of 2.95 and a beta of 1.65.

Ryman Hospitality Properties (NYSE:RHP) last issued its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $0.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.83 by ($0.89). Ryman Hospitality Properties had a return on equity of 61.94% and a net margin of 14.84%. The business had revenue of $549.90 million during the quarter, compared to analyst estimates of $545.93 million. During the same period in the previous year, the business posted $1.73 earnings per share. The firm’s quarterly revenue was up 4.0% on a year-over-year basis. Analysts anticipate that Ryman Hospitality Properties, Inc. will post 8.44 earnings per share for the current year.

Ryman Hospitality Properties Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 4.41%. The ex-dividend date of this dividend is Tuesday, December 31st. This is a positive change from Ryman Hospitality Properties’s previous quarterly dividend of $1.10. Ryman Hospitality Properties’s dividend payout ratio (DPR) is 81.71%.

Insider Activity

In other Ryman Hospitality Properties news, Director Fazal F. Merchant sold 1,269 shares of Ryman Hospitality Properties stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $113.98, for a total transaction of $144,640.62. Following the transaction, the director now directly owns 4,825 shares of the company’s stock, valued at $549,953.50. The trade was a 20.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on RHP shares. BMO Capital Markets assumed coverage on shares of Ryman Hospitality Properties in a research report on Monday, December 9th. They set an “outperform” rating and a $133.00 price target for the company. Jefferies Financial Group assumed coverage on Ryman Hospitality Properties in a research report on Wednesday, November 6th. They set a “buy” rating and a $130.00 target price on the stock. Truist Financial lifted their price target on Ryman Hospitality Properties from $130.00 to $136.00 and gave the stock a “buy” rating in a research note on Monday, November 18th. 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. Finally, Wells Fargo & Company upped their price target on shares of Ryman Hospitality Properties from $124.00 to $130.00 and gave the company an “overweight” rating in a report on Monday, December 9th. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $128.57.

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.