Mackay Shields LLC boosted its stake in shares of Ryman Hospitality Properties Inc (NYSE:RHP) by 54.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 101,200 shares of the real estate investment trust’s stock after purchasing an additional 35,831 shares during the period. Mackay Shields LLC’s holdings in Ryman Hospitality Properties were worth $8,279,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Trust Co. of Vermont purchased a new stake in Ryman Hospitality Properties during the 2nd quarter worth approximately $32,000. TCI Wealth Advisors Inc. purchased a new stake in Ryman Hospitality Properties during the 3rd quarter worth approximately $33,000. Huntington National Bank grew its position in Ryman Hospitality Properties by 75.6% during the 2nd quarter. Huntington National Bank now owns 490 shares of the real estate investment trust’s stock worth $40,000 after purchasing an additional 211 shares during the last quarter. HM Payson & Co. purchased a new stake in Ryman Hospitality Properties during the 2nd quarter worth approximately $41,000. Finally, FMR LLC grew its position in Ryman Hospitality Properties by 24.5% during the 1st quarter. FMR LLC now owns 997 shares of the real estate investment trust’s stock worth $82,000 after purchasing an additional 196 shares during the last quarter. 87.80% of the stock is currently owned by institutional investors.
Several analysts have weighed in on RHP shares. JPMorgan Chase & Co. dropped their target price on shares of Ryman Hospitality Properties from $77.00 to $76.00 and set an “underweight” rating on the stock in a research report on Friday, September 6th. SunTrust Banks dropped their target price on shares of Ryman Hospitality Properties from $81.00 to $78.00 and set a “hold” rating on the stock in a research report on Friday, August 9th. Zacks Investment Research raised shares of Ryman Hospitality Properties from a “sell” rating to a “hold” rating in a research report on Thursday. Wells Fargo & Co boosted their target price on shares of Ryman Hospitality Properties from $89.00 to $95.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, Deutsche Bank reissued a “buy” rating and set a $106.00 target price on shares of Ryman Hospitality Properties in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $89.20.
Ryman Hospitality Properties (NYSE:RHP) last released its quarterly earnings data on Tuesday, November 5th. The real estate investment trust reported $0.43 EPS for the quarter, missing the consensus estimate of $1.44 by ($1.01). The business had revenue of $379.79 million during the quarter, compared to analysts’ expectations of $370.70 million. Ryman Hospitality Properties had a net margin of 17.14% and a return on equity of 58.06%. The firm’s revenue was up 30.0% on a year-over-year basis. During the same period last year, the company earned $1.23 earnings per share. As a group, analysts anticipate that Ryman Hospitality Properties Inc will post 6.79 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 4.03%. The ex-dividend date was Friday, September 27th. Ryman Hospitality Properties’s dividend payout ratio (DPR) is currently 61.43%.
About Ryman Hospitality Properties
Ryman Hospitality Properties, Inc (NYSE:RHP) is a REIT for federal income tax purposes, specializing in group-oriented, destination hotel assets in urban and resort markets. The Company's owned assets include a network of four upscale, meetings-focused resorts totaling 8,114 rooms that are managed by lodging operator Marriott International, Inc under the Gaylord Hotels brand.
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