Millennium Management LLC Lowers Stock Holdings in Ryman Hospitality Properties, Inc. (NYSE:RHP)

Millennium Management LLC reduced its position in shares of Ryman Hospitality Properties, Inc. (NYSE:RHP) by 43.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 363,377 shares of the real estate investment trust’s stock after selling 274,252 shares during the period. Millennium Management LLC owned about 0.61% of Ryman Hospitality Properties worth $37,915,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Ryman Hospitality Properties by 3.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,376 shares of the real estate investment trust’s stock worth $3,482,000 after buying an additional 1,267 shares during the period. Lazard Asset Management LLC raised its stake in shares of Ryman Hospitality Properties by 7.5% in the fourth quarter. Lazard Asset Management LLC now owns 19,756 shares of the real estate investment trust’s stock valued at $2,060,000 after acquiring an additional 1,375 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of Ryman Hospitality Properties by 946.6% in the fourth quarter. Janus Henderson Group PLC now owns 502,983 shares of the real estate investment trust’s stock valued at $52,455,000 after acquiring an additional 454,922 shares in the last quarter. Deutsche Bank AG raised its stake in shares of Ryman Hospitality Properties by 4.0% in the fourth quarter. Deutsche Bank AG now owns 852,624 shares of the real estate investment trust’s stock valued at $88,963,000 after acquiring an additional 32,518 shares in the last quarter. Finally, DigitalBridge Group Inc. acquired a new stake in shares of Ryman Hospitality Properties in the fourth quarter valued at $12,218,000. 94.48% of the stock is currently owned by hedge funds and other institutional investors.

Ryman Hospitality Properties Stock Up 1.0%

Ryman Hospitality Properties stock opened at $99.10 on Friday. Ryman Hospitality Properties, Inc. has a 1-year low of $76.27 and a 1-year high of $121.77. The company has a debt-to-equity ratio of 6.07, a current ratio of 1.73 and a quick ratio of 1.73. The stock has a market cap of $5.95 billion, a PE ratio of 22.57, a P/E/G ratio of 2.71 and a beta of 1.55. The stock’s fifty day moving average is $90.84 and its two-hundred day moving average is $101.27.

Ryman Hospitality Properties (NYSE:RHP) last posted its earnings results on Thursday, May 1st. The real estate investment trust reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $1.79 by $0.29. Ryman Hospitality Properties had a return on equity of 49.23% and a net margin of 11.61%. The business had revenue of $587.28 million for the quarter, compared to analysts’ expectations of $546.52 million. During the same quarter in the previous year, the firm earned $1.60 earnings per share. The business’s revenue was up 11.2% compared to the same quarter last year. On average, sell-side analysts expect that Ryman Hospitality Properties, Inc. will post 8.81 EPS for the current fiscal year.

Ryman Hospitality Properties Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 4.64%. The ex-dividend date is Monday, June 30th. Ryman Hospitality Properties’s dividend payout ratio (DPR) is currently 97.46%.

Insider Transactions at Ryman Hospitality Properties

In other news, Director Alvin L. Bowles, Jr. sold 473 shares of Ryman Hospitality Properties stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $97.03, for a total transaction of $45,895.19. Following the sale, the director now owns 2,675 shares in the company, valued at approximately $259,555.25. The trade was a 15.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Colin V. Reed bought 8,231 shares of the business’s stock in a transaction dated Wednesday, February 26th. The shares were purchased at an average price of $97.54 per share, for a total transaction of $802,851.74. Following the transaction, the chairman now directly owns 832,260 shares of the company’s stock, valued at approximately $81,178,640.40. This represents a 1.00% increase in their position. The disclosure for this purchase can be found here. Insiders own 5.00% of the company’s stock.

Wall Street Analyst Weigh In

RHP has been the topic of several analyst reports. Wedbush set a $110.00 price objective on Ryman Hospitality Properties and gave the company an “outperform” rating in a research note on Tuesday, May 6th. Truist Financial reduced their price objective on Ryman Hospitality Properties from $133.00 to $127.00 and set a “buy” rating on the stock in a research note on Friday, March 21st. StockNews.com upgraded Ryman Hospitality Properties from a “sell” rating to a “hold” rating in a research note on Saturday, March 1st. Jefferies Financial Group reduced their price objective on Ryman Hospitality Properties from $118.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, April 9th. Finally, Wells Fargo & Company cut their price target on Ryman Hospitality Properties from $130.00 to $122.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $116.00.

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.