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

Cannon Global Investment Management LLC bought a new position in Ryman Hospitality Properties, Inc. (NYSE:RHP) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 2,100 shares of the real estate investment trust’s stock, valued at approximately $219,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Quarry LP purchased a new position in shares of Ryman Hospitality Properties in the 3rd quarter worth about $28,000. Heck Capital Advisors LLC purchased a new position in Ryman Hospitality Properties in the fourth quarter valued at approximately $31,000. Avior Wealth Management LLC grew its stake in Ryman Hospitality Properties by 44.9% during the third quarter. Avior Wealth Management LLC now owns 442 shares of the real estate investment trust’s stock worth $47,000 after buying an additional 137 shares during the period. Harvest Fund Management Co. Ltd purchased a new stake in Ryman Hospitality Properties during the fourth quarter worth approximately $72,000. Finally, Venturi Wealth Management LLC acquired a new stake in shares of Ryman Hospitality Properties in the fourth quarter worth $83,000. Institutional investors and hedge funds own 94.48% of the company’s stock.

Insider Buying and Selling

In other Ryman Hospitality Properties news, Director Alvin L. Bowles, Jr. sold 473 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $97.03, for a total value of $45,895.19. Following the transaction, the director now owns 2,675 shares of the company’s stock, valued at $259,555.25. This trade represents a 15.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Colin V. Reed bought 8,231 shares of the stock in a transaction dated Wednesday, February 26th. The shares were bought at an average cost of $97.54 per share, with a total value of $802,851.74. Following the completion of the acquisition, the chairman now directly owns 832,260 shares of the company’s stock, valued at approximately $81,178,640.40. The trade was a 1.00 % increase in their position. The disclosure for this purchase can be found here. 3.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

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

Ryman Hospitality Properties Trading Down 1.1 %

RHP opened at $94.59 on Monday. Ryman Hospitality Properties, Inc. has a 12-month low of $92.04 and a 12-month high of $121.77. The company has a debt-to-equity ratio of 6.07, a current ratio of 1.73 and a quick ratio of 1.73. The stock 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. The firm’s fifty day moving average price is $100.86 and its 200 day moving average price is $106.36.

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

Ryman Hospitality Properties Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $1.15 per share. 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 is currently 104.78%.

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.