Allspring Global Investments Holdings LLC Trims Stake in Ryman Hospitality Properties, Inc. (NYSE:RHP)

Allspring Global Investments Holdings LLC lowered its holdings in Ryman Hospitality Properties, Inc. (NYSE:RHP) by 37.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,804 shares of the real estate investment trust’s stock after selling 2,905 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Ryman Hospitality Properties were worth $529,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RHP. Adage Capital Partners GP L.L.C. purchased a new stake in Ryman Hospitality Properties in the third quarter valued at $21,653,000. Vanguard Group Inc. raised its holdings in shares of Ryman Hospitality Properties by 2.7% in the 3rd quarter. Vanguard Group Inc. now owns 8,307,026 shares of the real estate investment trust’s stock valued at $691,809,000 after buying an additional 216,137 shares during the period. Land & Buildings Investment Management LLC purchased a new stake in shares of Ryman Hospitality Properties in the 3rd quarter valued at $15,018,000. Aew Capital Management L P raised its holdings in shares of Ryman Hospitality Properties by 23.4% in the 3rd quarter. Aew Capital Management L P now owns 746,145 shares of the real estate investment trust’s stock valued at $62,139,000 after buying an additional 141,361 shares during the period. Finally, Ameriprise Financial Inc. raised its holdings in shares of Ryman Hospitality Properties by 33.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 555,473 shares of the real estate investment trust’s stock valued at $46,199,000 after buying an additional 139,867 shares during the period. Hedge funds and other institutional investors own 94.48% of the company’s stock.

Wall Street Analysts Forecast Growth

RHP has been the topic of several research analyst reports. StockNews.com upgraded Ryman Hospitality Properties from a “sell” rating to a “hold” rating in a report on Friday, February 23rd. Raymond James boosted their price objective on Ryman Hospitality Properties from $115.00 to $135.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. Truist Financial boosted their target price on Ryman Hospitality Properties from $134.00 to $135.00 and gave the stock a “buy” rating in a research note on Thursday, March 14th. Finally, Wells Fargo & Company boosted their target price on Ryman Hospitality Properties from $125.00 to $133.00 and gave the stock an “overweight” rating in a research note on Thursday, March 21st. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Ryman Hospitality Properties has a consensus rating of “Moderate Buy” and an average target price of $118.00.

Insider Transactions at Ryman Hospitality Properties

In other news, COO Patrick S. Chaffin sold 16,189 shares of the company’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $119.74, for a total transaction of $1,938,470.86. Following the completion of the transaction, the chief operating officer now directly owns 17,618 shares of the company’s stock, valued at approximately $2,109,579.32. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 3.00% of the company’s stock.

Ryman Hospitality Properties Trading Down 0.9 %

RHP opened at $106.96 on Friday. The business has a fifty day moving average price of $114.76 and a 200 day moving average price of $106.64. The stock has a market capitalization of $6.41 billion, a price-to-earnings ratio of 20.65, a PEG ratio of 0.76 and a beta of 1.57. Ryman Hospitality Properties, Inc. has a 12 month low of $79.86 and a 12 month high of $122.91. The company has a debt-to-equity ratio of 5.90, a current ratio of 1.97 and a quick ratio of 1.97.

Ryman Hospitality Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were given a dividend of $1.10 per share. The ex-dividend date was Wednesday, March 27th. This represents a $4.40 annualized dividend and a dividend yield of 4.11%. Ryman Hospitality Properties’s dividend payout ratio is currently 84.94%.

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.