The Manufacturers Life Insurance Company Sells 6,897 Shares of Ryman Hospitality Properties, Inc. (NYSE:RHP)

The Manufacturers Life Insurance Company decreased its position in Ryman Hospitality Properties, Inc. (NYSE:RHP) by 16.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 34,591 shares of the real estate investment trust’s stock after selling 6,897 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.06% of Ryman Hospitality Properties worth $3,710,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Cerity Partners LLC increased its holdings in Ryman Hospitality Properties by 6.1% during the 3rd quarter. Cerity Partners LLC now owns 7,919 shares of the real estate investment trust’s stock worth $849,000 after purchasing an additional 452 shares in the last quarter. Citigroup Inc. boosted its position in shares of Ryman Hospitality Properties by 72.9% during the third quarter. Citigroup Inc. now owns 54,239 shares of the real estate investment trust’s stock worth $5,817,000 after buying an additional 22,871 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Ryman Hospitality Properties by 0.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 964,315 shares of the real estate investment trust’s stock worth $103,413,000 after buying an additional 6,289 shares in the last quarter. Intech Investment Management LLC acquired a new stake in Ryman Hospitality Properties in the 3rd quarter valued at approximately $1,777,000. Finally, Segall Bryant & Hamill LLC raised its position in Ryman Hospitality Properties by 2.4% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 18,310 shares of the real estate investment trust’s stock valued at $1,964,000 after buying an additional 429 shares during the last quarter. Institutional investors own 94.48% of the company’s stock.

Wall Street Analyst Weigh In

RHP has been the subject of a number of recent research reports. Truist Financial increased their price objective on shares of Ryman Hospitality Properties from $130.00 to $136.00 and gave the stock a “buy” rating in a research note on Monday, November 18th. Jefferies Financial Group began coverage on Ryman Hospitality Properties in a report on Wednesday, November 6th. They set a “buy” rating and a $130.00 target price on the stock. Finally, Wells Fargo & Company reduced their price target on 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 equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $126.17.

Ryman Hospitality Properties Stock Performance

Shares of RHP opened at $118.25 on Friday. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 6.07. The firm’s fifty day simple moving average is $111.88 and its two-hundred day simple moving average is $105.27. Ryman Hospitality Properties, Inc. has a 12 month low of $93.76 and a 12 month high of $122.91. The stock has a market capitalization of $7.08 billion, a P/E ratio of 21.00, a price-to-earnings-growth ratio of 2.98 and a beta of 1.65.

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

Ryman Hospitality Properties Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.89%. The ex-dividend date is Tuesday, December 31st. This is an increase from Ryman Hospitality Properties’s previous quarterly dividend of $1.10. Ryman Hospitality Properties’s payout ratio is presently 81.71%.

Insider Activity

In other Ryman Hospitality Properties news, Director Fazal F. Merchant sold 1,269 shares of the business’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $113.98, for a total value of $144,640.62. Following the sale, the director now directly owns 4,825 shares in the company, 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 available through the SEC website. Also, Director Alvin L. Bowles, Jr. sold 900 shares of Ryman Hospitality Properties 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 completion of the transaction, the director now owns 3,148 shares of the company’s stock, valued at $337,843.36. The trade was a 22.23 % decrease in their position. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by corporate insiders.

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.