Westpac Banking Corp Reduces Position in Ryman Hospitality Properties, Inc. $RHP

Westpac Banking Corp lessened its position in shares of Ryman Hospitality Properties, Inc. (NYSE:RHP) by 26.7% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 12,901 shares of the real estate investment trust’s stock after selling 4,697 shares during the quarter. Westpac Banking Corp’s holdings in Ryman Hospitality Properties were worth $1,221,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Ryman Hospitality Properties by 1.9% in the 3rd quarter. Vanguard Group Inc. now owns 9,108,548 shares of the real estate investment trust’s stock valued at $816,035,000 after purchasing an additional 166,293 shares during the last quarter. State Street Corp grew its stake in shares of Ryman Hospitality Properties by 0.6% in the 2nd quarter. State Street Corp now owns 3,375,908 shares of the real estate investment trust’s stock valued at $336,901,000 after purchasing an additional 20,756 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Ryman Hospitality Properties by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 1,588,492 shares of the real estate investment trust’s stock valued at $150,327,000 after purchasing an additional 11,591 shares during the last quarter. Cooke & Bieler LP grew its stake in shares of Ryman Hospitality Properties by 12.8% in the 4th quarter. Cooke & Bieler LP now owns 1,251,144 shares of the real estate investment trust’s stock valued at $118,383,000 after purchasing an additional 142,206 shares during the last quarter. Finally, Hamlin Capital Management LLC grew its stake in shares of Ryman Hospitality Properties by 4.2% in the 4th quarter. Hamlin Capital Management LLC now owns 1,029,740 shares of the real estate investment trust’s stock valued at $97,434,000 after purchasing an additional 41,764 shares during the last quarter. 94.48% of the stock is currently owned by hedge funds and other institutional investors.

Ryman Hospitality Properties Stock Down 1.3%

RHP opened at $113.53 on Thursday. The company has a debt-to-equity ratio of 5.15, a current ratio of 1.35 and a quick ratio of 1.35. The business has a 50 day simple moving average of $103.74 and a 200-day simple moving average of $98.71. The stock has a market capitalization of $7.17 billion, a P/E ratio of 29.96, a P/E/G ratio of 2.67 and a beta of 1.22. Ryman Hospitality Properties, Inc. has a 12 month low of $83.82 and a 12 month high of $117.18.

Ryman Hospitality Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be issued a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend is Tuesday, June 30th. Ryman Hospitality Properties’s dividend payout ratio (DPR) is currently 126.65%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on RHP. Truist Financial lifted their target price on Ryman Hospitality Properties from $129.00 to $132.00 and gave the company a “buy” rating in a research note on Tuesday, May 26th. JPMorgan Chase & Co. lifted their target price on Ryman Hospitality Properties from $111.00 to $113.00 and gave the company an “overweight” rating in a research note on Tuesday, May 5th. Weiss Ratings downgraded Ryman Hospitality Properties from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, May 6th. Evercore reiterated an “outperform” rating and issued a $115.00 target price on shares of Ryman Hospitality Properties in a research note on Friday, February 6th. Finally, Cantor Fitzgerald lifted their target price on Ryman Hospitality Properties from $115.00 to $124.00 and gave the company an “overweight” rating in a research note on Wednesday, May 13th. Nine investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $120.33.

Ryman Hospitality Properties Company Profile

Ryman Hospitality Properties, Inc is a publicly traded real estate investment trust (REIT) specializing in the ownership and operation of group‐oriented, large convention center hotel resorts. The company’s portfolio is anchored by its Gaylord Hotels brand, offering integrated resort, convention, entertainment and dining experiences under long‐term management agreements with Marriott International.

Ryman’s flagship properties include Gaylord Opryland Resort & Convention Center in Nashville, Gaylord Texan Resort & Convention Center near Dallas/Fort Worth and Gaylord Palms Resort & Convention Center in Orlando, Florida.