BlackRock Inc. Lowers Stake in Ryman Hospitality Properties, Inc. (NYSE:RHP)

Posted by Defense World Staff on Mar 10th, 2023

BlackRock Inc. reduced its position in shares of Ryman Hospitality Properties, Inc. (NYSE:RHP – Get Rating) by 2.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,346,751 shares of the real estate investment trust’s stock after selling 126,887 shares during the quarter. BlackRock Inc. owned 9.69% of Ryman Hospitality Properties worth $393,469,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Brandywine Global Investment Management LLC lifted its stake in Ryman Hospitality Properties by 95.6% in the 3rd quarter. Brandywine Global Investment Management LLC now owns 58,541 shares of the real estate investment trust’s stock valued at $4,308,000 after buying an additional 28,609 shares in the last quarter. Capital Growth Management LP lifted its stake in Ryman Hospitality Properties by 31.3% in the 3rd quarter. Capital Growth Management LP now owns 210,000 shares of the real estate investment trust’s stock valued at $15,454,000 after buying an additional 50,000 shares in the last quarter. CI Investments Inc. lifted its stake in Ryman Hospitality Properties by 4.0% in the 3rd quarter. CI Investments Inc. now owns 38,634 shares of the real estate investment trust’s stock valued at $2,843,000 after buying an additional 1,498 shares in the last quarter. AlphaCrest Capital Management LLC purchased a new position in Ryman Hospitality Properties in the 3rd quarter valued at about $279,000. Finally, Royal Bank of Canada lifted its stake in Ryman Hospitality Properties by 7.2% in the 3rd quarter. Royal Bank of Canada now owns 9,094 shares of the real estate investment trust’s stock valued at $670,000 after buying an additional 610 shares in the last quarter. 92.80% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have commented on RHP shares. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Ryman Hospitality Properties from $126.00 to $120.00 and set a “buy” rating for the company in a report on Monday, February 27th. TheStreet upgraded shares of Ryman Hospitality Properties from a “c” rating to a “b-” rating in a report on Friday, February 24th. Finally, Raymond James increased their price objective on shares of Ryman Hospitality Properties from $95.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, December 9th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $106.80.

Ryman Hospitality Properties Stock Down 4.1 %

Shares of NYSE RHP opened at $92.24 on Friday. The company has a 50 day simple moving average of $89.37 and a 200-day simple moving average of $86.29. The company has a market capitalization of $5.09 billion, a P/E ratio of 40.46 and a beta of 1.56. The company has a debt-to-equity ratio of 29.85, a current ratio of 1.74 and a quick ratio of 1.74. Ryman Hospitality Properties, Inc. has a 1 year low of $70.46 and a 1 year high of $101.19.

Ryman Hospitality Properties Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 17th. Stockholders of record on Friday, March 31st will be issued a dividend of $0.75 per share. The ex-dividend date of this dividend is Thursday, March 30th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.25%. This is an increase from Ryman Hospitality Properties’s previous quarterly dividend of $0.25. Ryman Hospitality Properties’s dividend payout ratio (DPR) is currently 43.86%.

Ryman Hospitality Properties Company Profile

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Ryman Hospitality Properties, Inc is a real estate investment trust, which engages in owning and operating group-oriented, destination hotel assets in urban and resort markets. It operates through the following segments: Hospitality, Entertainment, and Corporate and Other. The Hospitality segment includes directly-owned hotel properties and hotel operations, as well as the Gaylord Rockies joint venture.