Cannon Global Investment Management LLC Purchases New Position in Ryman Hospitality Properties, Inc. (NYSE:RHP)

Cannon Global Investment Management LLC acquired a new stake in Ryman Hospitality Properties, Inc. (NYSE:RHP) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,100 shares of the real estate investment trust’s stock, valued at approximately $219,000.

Several other hedge funds also recently made changes to their positions in RHP. Principal Financial Group Inc. grew its stake in Ryman Hospitality Properties by 41.9% during the 3rd quarter. Principal Financial Group Inc. now owns 3,153,360 shares of the real estate investment trust’s stock worth $338,168,000 after buying an additional 931,283 shares during the last quarter. Pathstone Holdings LLC grew its position in shares of Ryman Hospitality Properties by 9.6% during the third quarter. Pathstone Holdings LLC now owns 20,528 shares of the real estate investment trust’s stock worth $2,203,000 after acquiring an additional 1,800 shares during the last quarter. Avior Wealth Management LLC increased its holdings in shares of Ryman Hospitality Properties by 44.9% in the 3rd quarter. Avior Wealth Management LLC now owns 442 shares of the real estate investment trust’s stock valued at $47,000 after acquiring an additional 137 shares during the period. Segall Bryant & Hamill LLC raised its position in Ryman Hospitality Properties by 2.4% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 18,310 shares of the real estate investment trust’s stock valued at $1,964,000 after purchasing an additional 429 shares during the last quarter. Finally, Intech Investment Management LLC acquired a new stake in Ryman Hospitality Properties during the 3rd quarter worth $1,777,000. Hedge funds and other institutional investors own 94.48% of the company’s stock.

Insider Activity

In other news, Director Alvin L. Bowles, Jr. sold 473 shares of the company’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $97.03, for a total value of $45,895.19. Following the sale, the director now directly owns 2,675 shares in the company, valued at $259,555.25. This represents a 15.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Colin V. Reed bought 8,231 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The stock was purchased at an average cost of $97.54 per share, with a total value of $802,851.74. Following the purchase, the chairman now directly owns 832,260 shares in the company, valued at $81,178,640.40. The trade was a 1.00 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 3.00% of the company’s stock.

Ryman Hospitality Properties Stock Performance

Shares of RHP opened at $94.59 on Monday. 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 52-week low of $92.04 and a 52-week high of $121.77. The company has a 50-day simple moving average of $100.86 and a 200-day simple moving average of $106.36. The company has a market capitalization of $5.67 billion, a PE ratio of 21.55, a P/E/G ratio of 2.71 and a beta of 1.65.

Ryman Hospitality Properties (NYSE:RHP) last issued its quarterly earnings data on Thursday, February 20th. The real estate investment trust reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.94. The firm had revenue of $647.63 million during the quarter, compared to analysts’ expectations of $656.01 million. Ryman Hospitality Properties had a return on equity of 49.23% and a net margin of 11.61%. Equities research analysts predict that Ryman Hospitality Properties, Inc. will post 8.81 earnings per share for the current fiscal year.

Ryman Hospitality Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 4.86%. The ex-dividend date is Monday, March 31st. Ryman Hospitality Properties’s dividend payout ratio (DPR) is presently 104.78%.

Analyst Ratings Changes

A number of brokerages have recently commented on RHP. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $100.00 target price on shares of Ryman Hospitality Properties in a report on Friday, December 13th. Wells Fargo & Company dropped their target price on Ryman Hospitality Properties from $130.00 to $122.00 and set an “overweight” rating on the stock in a report on Tuesday, February 18th. StockNews.com raised Ryman Hospitality Properties from a “sell” rating to a “hold” rating in a report on Saturday, March 1st. BMO Capital Markets started coverage on shares of Ryman Hospitality Properties in a research note on Monday, December 9th. They issued an “outperform” rating and a $133.00 price objective on the stock. Finally, Truist Financial reduced their target price on shares of Ryman Hospitality Properties from $133.00 to $127.00 and set a “buy” rating for the company in a research note on Friday. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $124.67.

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.