Waterfront Capital Partners LLC Acquires Shares of 35,000 Ryman Hospitality Properties, Inc. (NYSE:RHP)

Waterfront Capital Partners LLC purchased a new stake in Ryman Hospitality Properties, Inc. (NYSE:RHP) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 35,000 shares of the real estate investment trust’s stock, valued at approximately $3,753,000. Waterfront Capital Partners LLC owned 0.06% of Ryman Hospitality Properties as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Ryman Hospitality Properties by 483.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 609,761 shares of the real estate investment trust’s stock valued at $65,391,000 after purchasing an additional 505,207 shares during the period. FORA Capital LLC increased its holdings in Ryman Hospitality Properties by 48.7% during the 3rd quarter. FORA Capital LLC now owns 10,823 shares of the real estate investment trust’s stock worth $1,161,000 after purchasing an additional 3,547 shares in the last quarter. Cerity Partners LLC increased its holdings in Ryman Hospitality Properties by 6.1% during the 3rd quarter. Cerity Partners LLC now owns 7,919 shares of the real estate investment trust’s stock worth $849,000 after purchasing an additional 452 shares in the last quarter. Citigroup Inc. increased its holdings in Ryman Hospitality Properties by 72.9% during the 3rd quarter. Citigroup Inc. now owns 54,239 shares of the real estate investment trust’s stock worth $5,817,000 after purchasing an additional 22,871 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Ryman Hospitality Properties by 0.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 964,315 shares of the real estate investment trust’s stock valued at $103,413,000 after acquiring an additional 6,289 shares in the last quarter. Institutional investors and hedge funds own 94.48% of the company’s stock.

Wall Street Analysts Forecast Growth

RHP has been the subject of several analyst reports. Wells Fargo & Company decreased their price objective on Ryman Hospitality Properties from $127.00 to $115.00 and set an “overweight” rating for the company in a report on Friday, September 13th. Jefferies Financial Group assumed coverage on shares of Ryman Hospitality Properties in a research report on Wednesday, November 6th. They set a “buy” rating and a $130.00 price objective for the company. StockNews.com upgraded shares of Ryman Hospitality Properties from a “sell” rating to a “hold” rating in a research report on Friday, August 9th. Truist Financial raised their price objective on shares of Ryman Hospitality Properties from $130.00 to $136.00 and gave the stock a “buy” rating in a research report on Monday, November 18th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Ryman Hospitality Properties from $104.00 to $105.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Ryman Hospitality Properties presently has an average rating of “Moderate Buy” and an average price target of $126.17.

Insiders Place Their Bets

In other news, Director Fazal F. Merchant sold 1,269 shares of the stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $113.98, for a total transaction of $144,640.62. Following the completion of the transaction, the director now directly owns 4,825 shares of the company’s stock, valued at $549,953.50. This represents a 20.82 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Alvin L. Bowles, Jr. sold 900 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $107.32, for a total transaction of $96,588.00. Following the completion of the transaction, the director now directly owns 3,148 shares of the company’s stock, valued at approximately $337,843.36. This trade represents a 22.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by insiders.

Ryman Hospitality Properties Price Performance

RHP stock opened at $116.72 on Friday. The firm has a market cap of $6.99 billion, a price-to-earnings ratio of 20.73, a PEG ratio of 2.94 and a beta of 1.65. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 6.07. Ryman Hospitality Properties, Inc. has a 12-month low of $93.76 and a 12-month high of $122.91. The company’s fifty day simple moving average is $110.93 and its 200 day simple moving average is $104.76.

Ryman Hospitality Properties (NYSE:RHP) last posted its earnings results on Monday, November 4th. The real estate investment trust reported $0.94 earnings per share for the quarter, missing analysts’ consensus estimates of $1.83 by ($0.89). Ryman Hospitality Properties had a return on equity of 61.94% and a net margin of 14.84%. The business had revenue of $549.90 million during the quarter, compared to analyst estimates of $545.93 million. During the same quarter in the prior year, the company earned $1.73 EPS. The company’s revenue was up 4.0% on a year-over-year basis. On average, analysts expect that Ryman Hospitality Properties, Inc. will post 8.44 earnings per share for the current year.

Ryman Hospitality Properties Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 3.94%. This is an increase from Ryman Hospitality Properties’s previous quarterly dividend of $1.10. The ex-dividend date is Tuesday, December 31st. Ryman Hospitality Properties’s dividend payout ratio is presently 78.15%.

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.