Bank of New York Mellon Corp Sells 40,447 Shares of Ryman Hospitality Properties, Inc. $RHP

Bank of New York Mellon Corp cut its stake in shares of Ryman Hospitality Properties, Inc. (NYSE:RHP) by 5.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 641,584 shares of the real estate investment trust’s stock after selling 40,447 shares during the period. Bank of New York Mellon Corp’s holdings in Ryman Hospitality Properties were worth $59,199,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of RHP. International Assets Investment Management LLC increased its holdings in Ryman Hospitality Properties by 437.0% in the 1st quarter. International Assets Investment Management LLC now owns 290 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 236 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in Ryman Hospitality Properties by 61.7% during the third quarter. Caitong International Asset Management Co. Ltd now owns 296 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 113 shares in the last quarter. Global Retirement Partners LLC boosted its position in shares of Ryman Hospitality Properties by 155.0% in the fourth quarter. Global Retirement Partners LLC now owns 283 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 172 shares during the period. Geneos Wealth Management Inc. boosted its position in shares of Ryman Hospitality Properties by 240.2% in the first quarter. Geneos Wealth Management Inc. now owns 296 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 209 shares during the period. Finally, Los Angeles Capital Management LLC bought a new stake in shares of Ryman Hospitality Properties during the 4th quarter valued at $28,000. Institutional investors own 94.48% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Cantor Fitzgerald upped their target price on shares of Ryman Hospitality Properties from $115.00 to $124.00 and gave the stock an “overweight” rating in a report on Wednesday, May 13th. Morgan Stanley raised their price target on Ryman Hospitality Properties from $105.00 to $112.00 and gave the company an “overweight” rating in a report on Tuesday, May 12th. JPMorgan Chase & Co. boosted their price objective on Ryman Hospitality Properties from $113.00 to $129.00 and gave the company an “overweight” rating in a research report on Tuesday. Wells Fargo & Company upped their price objective on Ryman Hospitality Properties from $126.00 to $136.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $137.00 target price on shares of Ryman Hospitality Properties in a research report on Friday, June 12th. Ten equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Ryman Hospitality Properties has an average rating of “Moderate Buy” and an average target price of $127.10.

Ryman Hospitality Properties Price Performance

NYSE:RHP opened at $128.82 on Friday. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 5.15. The company has a market capitalization of $8.13 billion, a P/E ratio of 33.99, a P/E/G ratio of 2.35 and a beta of 1.20. Ryman Hospitality Properties, Inc. has a 12 month low of $83.82 and a 12 month high of $132.41. The business’s 50-day moving average is $121.78 and its 200 day moving average is $106.37.

Ryman Hospitality Properties Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were given a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date was Tuesday, June 30th. Ryman Hospitality Properties’s dividend payout ratio is currently 126.65%.

Ryman Hospitality Properties 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.