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

Franklin Resources Inc. reduced its position in shares of Ryman Hospitality Properties, Inc. (NYSE:RHP) by 2.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 84,596 shares of the real estate investment trust’s stock after selling 1,762 shares during the quarter. Franklin Resources Inc. owned 0.14% of Ryman Hospitality Properties worth $8,827,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in RHP. Victory Capital Management Inc. lifted its stake in shares of Ryman Hospitality Properties by 87.3% in the 4th quarter. Victory Capital Management Inc. now owns 547,639 shares of the real estate investment trust’s stock worth $57,141,000 after purchasing an additional 255,229 shares during the period. Paradigm Asset Management Co. LLC purchased a new stake in shares of Ryman Hospitality Properties in the 4th quarter worth $741,000. Van ECK Associates Corp raised its holdings in Ryman Hospitality Properties by 10.2% in the 4th quarter. Van ECK Associates Corp now owns 11,109 shares of the real estate investment trust’s stock worth $1,159,000 after purchasing an additional 1,029 shares during the period. Quantinno Capital Management LP purchased a new position in Ryman Hospitality Properties during the third quarter valued at $488,000. Finally, Principal Financial Group Inc. grew its holdings in Ryman Hospitality Properties by 3.2% during the fourth quarter. Principal Financial Group Inc. now owns 3,254,693 shares of the real estate investment trust’s stock valued at $339,596,000 after purchasing an additional 101,333 shares during the period. Hedge funds and other institutional investors own 94.48% of the company’s stock.

Insider Buying and Selling

In related news, Chairman Colin V. Reed bought 8,231 shares of the stock in a transaction dated Wednesday, February 26th. The stock was purchased at an average cost of $97.54 per share, with a total value of $802,851.74. Following the completion of the purchase, the chairman now owns 832,260 shares of the company’s stock, valued at $81,178,640.40. This trade represents a 1.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Alvin L. Bowles, Jr. sold 473 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $97.03, for a total value of $45,895.19. Following the completion of the transaction, the director now directly owns 2,675 shares in the company, valued at approximately $259,555.25. This trade represents a 15.03 % decrease in their position. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

RHP has been the subject of several analyst reports. StockNews.com raised shares of Ryman Hospitality Properties from a “sell” rating to a “hold” rating in a report on Saturday, March 1st. JPMorgan Chase & Co. reissued an “underweight” rating and set a $100.00 price objective on shares of Ryman Hospitality Properties in a report on Friday, December 13th. Wells Fargo & Company reduced their target price on Ryman Hospitality Properties from $130.00 to $122.00 and set an “overweight” rating on the stock in a report on Tuesday, February 18th. Finally, Truist Financial decreased their target price on Ryman Hospitality Properties from $133.00 to $127.00 and set a “buy” rating on the stock in a research report on Friday, March 21st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $124.67.

Ryman Hospitality Properties Stock Down 3.1 %

Shares of NYSE:RHP opened at $78.68 on Wednesday. The company has a market cap of $4.71 billion, a price-to-earnings ratio of 17.92, a PEG ratio of 2.71 and a beta of 1.38. Ryman Hospitality Properties, Inc. has a 12 month low of $77.73 and a 12 month high of $121.77. 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 company has a 50-day moving average price of $97.03 and a 200 day moving average price of $105.14.

Ryman Hospitality Properties (NYSE:RHP) last announced its earnings results on Thursday, February 20th. The real estate investment trust reported $2.15 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.94. Ryman Hospitality Properties had a return on equity of 49.23% and a net margin of 11.61%. The firm had revenue of $647.63 million during the quarter, compared to analysts’ expectations of $656.01 million. As a group, equities research analysts predict that Ryman Hospitality Properties, Inc. will post 8.81 earnings per share for the current year.

Ryman Hospitality Properties Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $1.15 per share. The ex-dividend date is Monday, March 31st. This represents a $4.60 annualized dividend and a yield of 5.85%. Ryman Hospitality Properties’s payout ratio is 104.78%.

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.