Phocas Financial Corp. Has $7.76 Million Stock Position in Ryman Hospitality Properties, Inc. (NYSE:RHP)

Phocas Financial Corp. lowered its holdings in shares of Ryman Hospitality Properties, Inc. (NYSE:RHP) by 5.4% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 84,888 shares of the real estate investment trust’s stock after selling 4,831 shares during the period. Ryman Hospitality Properties comprises about 1.2% of Phocas Financial Corp.’s portfolio, making the stock its 22nd biggest holding. Phocas Financial Corp. owned about 0.14% of Ryman Hospitality Properties worth $7,762,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Principal Financial Group Inc. raised its holdings in shares of Ryman Hospitality Properties by 6.4% during the 1st quarter. Principal Financial Group Inc. now owns 3,462,112 shares of the real estate investment trust’s stock worth $316,576,000 after buying an additional 207,419 shares in the last quarter. Nuveen Asset Management LLC raised its holdings in shares of Ryman Hospitality Properties by 0.6% during the 4th quarter. Nuveen Asset Management LLC now owns 936,712 shares of the real estate investment trust’s stock worth $97,737,000 after buying an additional 5,807 shares in the last quarter. Cooke & Bieler LP raised its holdings in shares of Ryman Hospitality Properties by 25.9% during the 1st quarter. Cooke & Bieler LP now owns 902,874 shares of the real estate investment trust’s stock worth $82,559,000 after buying an additional 185,880 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in Ryman Hospitality Properties by 4.5% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 892,018 shares of the real estate investment trust’s stock worth $81,566,000 after acquiring an additional 38,767 shares during the last quarter. Finally, Deutsche Bank AG grew its position in Ryman Hospitality Properties by 4.0% during the 4th quarter. Deutsche Bank AG now owns 852,624 shares of the real estate investment trust’s stock worth $88,963,000 after acquiring an additional 32,518 shares during the last quarter. Institutional investors and hedge funds own 94.48% of the company’s stock.

Insider Activity

In related news, Director Alvin L. Bowles, Jr. sold 1,300 shares of the company’s stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $99.01, for a total transaction of $128,713.00. Following the sale, the director owned 2,576 shares in the company, valued at $255,049.76. This represents a 33.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Colin V. Reed bought 8,356 shares of the business’s stock in a transaction that occurred on Monday, June 9th. The shares were acquired at an average price of $96.92 per share, for a total transaction of $809,863.52. Following the transaction, the chairman owned 870,406 shares in the company, valued at $84,359,749.52. This represents a 0.97% increase in their ownership of the stock. The disclosure for this purchase can be found here. 5.00% of the stock is owned by corporate insiders.

Ryman Hospitality Properties Trading Down 2.3%

NYSE RHP opened at $92.88 on Friday. Ryman Hospitality Properties, Inc. has a 12 month low of $76.27 and a 12 month high of $121.77. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 5.92. The business’s 50-day moving average price is $99.17 and its two-hundred day moving average price is $96.89. The firm has a market capitalization of $5.57 billion, a PE ratio of 19.68, a price-to-earnings-growth ratio of 2.13 and a beta of 1.62.

Ryman Hospitality Properties (NYSE:RHP) last announced its earnings results on Thursday, May 1st. The real estate investment trust reported $2.08 EPS for the quarter, beating the consensus estimate of $1.79 by $0.29. Ryman Hospitality Properties had a return on equity of 51.95% and a net margin of 12.16%. The company had revenue of $587.28 million for the quarter, compared to analyst estimates of $546.52 million. During the same quarter in the prior year, the company earned $1.60 EPS. The firm’s revenue for the quarter was up 11.2% compared to the same quarter last year. On average, analysts expect that Ryman Hospitality Properties, Inc. will post 8.81 EPS for the current year.

Ryman Hospitality Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were given a dividend of $1.15 per share. The ex-dividend date was Monday, June 30th. This represents a $4.60 annualized dividend and a dividend yield of 5.0%. Ryman Hospitality Properties’s dividend payout ratio is presently 97.46%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on RHP shares. Evercore ISI reduced their price objective on Ryman Hospitality Properties from $130.00 to $120.00 and set an “outperform” rating on the stock in a research report on Monday, April 28th. Truist Financial reduced their price objective on Ryman Hospitality Properties from $127.00 to $120.00 and set a “buy” rating on the stock in a research report on Friday, May 30th. Bank of America upped their price target on Ryman Hospitality Properties from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Monday, July 21st. JPMorgan Chase & Co. initiated coverage on Ryman Hospitality Properties in a research report on Monday, June 23rd. They issued an “overweight” rating and a $117.00 price target on the stock. Finally, Jefferies Financial Group reduced their price target on Ryman Hospitality Properties from $118.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, April 9th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Ryman Hospitality Properties currently has a consensus rating of “Moderate Buy” and an average price target of $114.75.

About Ryman Hospitality Properties

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.