Geode Capital Management LLC Increases Stock Position in Ryman Hospitality Properties, Inc. (NYSE:RHP)

Posted by Defense World Staff on Jun 9th, 2023

Geode Capital Management LLC raised its holdings in shares of Ryman Hospitality Properties, Inc. (NYSE:RHP – Get Rating) by 2.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,112,176 shares of the real estate investment trust’s stock after purchasing an additional 30,449 shares during the period. Geode Capital Management LLC owned approximately 2.02% of Ryman Hospitality Properties worth $90,953,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of RHP. State Street Corp grew its stake in shares of Ryman Hospitality Properties by 14.6% in the first quarter. State Street Corp now owns 2,640,373 shares of the real estate investment trust’s stock worth $244,947,000 after acquiring an additional 336,493 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of Ryman Hospitality Properties by 16.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,071,299 shares of the real estate investment trust’s stock worth $192,155,000 after buying an additional 287,880 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Ryman Hospitality Properties by 5.4% in the fourth quarter. JPMorgan Chase & Co. now owns 1,574,300 shares of the real estate investment trust’s stock worth $128,747,000 after acquiring an additional 81,158 shares during the period. Charles Schwab Investment Management Inc. increased its position in Ryman Hospitality Properties by 2.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 785,513 shares of the real estate investment trust’s stock valued at $72,873,000 after acquiring an additional 17,647 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. lifted its holdings in Ryman Hospitality Properties by 10.0% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 704,704 shares of the real estate investment trust’s stock valued at $57,631,000 after acquiring an additional 63,972 shares during the period. Institutional investors own 92.80% of the company’s stock.

Ryman Hospitality Properties Stock Performance

Shares of RHP opened at $95.26 on Friday. The company has a debt-to-equity ratio of 28.59, a quick ratio of 1.88 and a current ratio of 1.88. Ryman Hospitality Properties, Inc. has a fifty-two week low of $70.46 and a fifty-two week high of $98.60. The stock has a market capitalization of $5.26 billion, a PE ratio of 25.40, a P/E/G ratio of 11.82 and a beta of 1.58. The company’s fifty day moving average is $91.89 and its 200 day moving average is $89.34.

Ryman Hospitality Properties Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 17th. Investors of record on Friday, June 30th will be issued a dividend of $1.00 per share. The ex-dividend date of this dividend is Thursday, June 29th. This represents a $4.00 dividend on an annualized basis and a yield of 4.20%. This is a boost from Ryman Hospitality Properties’s previous quarterly dividend of $0.75. Ryman Hospitality Properties’s payout ratio is presently 80.00%.

Analyst Ratings Changes

RHP has been the subject of a number of research reports. TheStreet raised shares of Ryman Hospitality Properties from a “c” rating to a “b-” rating in a report on Friday, February 24th. Deutsche Bank Aktiengesellschaft raised their target price on Ryman Hospitality Properties from $126.00 to $128.00 in a report on Tuesday, May 9th. Wells Fargo & Company cut their price target on Ryman Hospitality Properties from $101.00 to $96.00 and set an “overweight” rating for the company in a report on Thursday, March 30th. Finally, StockNews.com started coverage on Ryman Hospitality Properties in a research report on Thursday, May 18th. They set a “hold” rating on the stock. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Ryman Hospitality Properties has a consensus rating of “Moderate Buy” and an average price target of $107.40.

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.

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Institutional Ownership by Quarter for Ryman Hospitality Properties (NYSE:RHP)

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