Legal & General Group Plc Makes New Investment in Ryman Hospitality Properties, Inc. $RHP

Legal & General Group Plc bought a new stake in shares of Ryman Hospitality Properties, Inc. (NYSE:RHP) in the second quarter, Holdings Channel reports. The fund bought 405,345 shares of the real estate investment trust’s stock, valued at approximately $52,107,000.

A number of other hedge funds have also made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of Ryman Hospitality Properties in the second quarter worth approximately $1,438,737,000. Bank of New York Mellon Corp purchased a new stake in shares of Ryman Hospitality Properties during the second quarter worth approximately $78,347,000. Bruni J V & Co. Co. acquired a new position in Ryman Hospitality Properties in the 2nd quarter valued at $65,555,872. Norges Bank acquired a new position in Ryman Hospitality Properties in the 4th quarter valued at $48,036,000. Finally, Invesco Ltd. lifted its holdings in Ryman Hospitality Properties by 184.9% in the 3rd quarter. Invesco Ltd. now owns 739,608 shares of the real estate investment trust’s stock valued at $66,261,000 after purchasing an additional 479,990 shares in the last quarter. Institutional investors and hedge funds own 94.48% of the company’s stock.

Ryman Hospitality Properties Stock Performance

Shares of Ryman Hospitality Properties stock opened at $129.20 on Friday. The business’s 50 day moving average price is $128.06 and its 200 day moving average price is $112.45. The company has a market cap of $8.16 billion, a price-to-earnings ratio of 31.59, a PEG ratio of 1.98 and a beta of 1.20. The company has a debt-to-equity ratio of 5.02, a quick ratio of 1.34 and a current ratio of 1.34. Ryman Hospitality Properties, Inc. has a one year low of $83.82 and a one year high of $137.46.

Ryman Hospitality Properties (NYSE:RHP) last issued its earnings results on Friday, August 7th. The real estate investment trust reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.11. The company had revenue of $748.98 million during the quarter, compared to analysts’ expectations of $734.59 million. Ryman Hospitality Properties had a return on equity of 34.54% and a net margin of 9.91%.The firm’s quarterly revenue was up 13.6% on a year-over-year basis. During the same period in the prior year, the business earned $2.35 EPS. On average, research analysts predict that Ryman Hospitality Properties, Inc. will post 9.21 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on RHP shares. Raymond James Financial reaffirmed an “outperform” rating and set a $125.00 target price on shares of Ryman Hospitality Properties in a research note on Monday, June 8th. JPMorgan Chase & Co. increased their target price on shares of Ryman Hospitality Properties from $113.00 to $129.00 and gave the company an “overweight” rating in a research report on Tuesday, July 21st. Truist Financial raised their price target on shares of Ryman Hospitality Properties from $129.00 to $132.00 and gave the stock a “buy” rating in a research note on Tuesday, May 26th. Barclays boosted their price target on shares of Ryman Hospitality Properties from $130.00 to $147.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Cantor Fitzgerald upped their price objective on shares of Ryman Hospitality Properties from $124.00 to $135.00 and gave the company an “overweight” rating in a research note on Tuesday, August 11th. Twelve research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $131.27.

About Ryman Hospitality Properties

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.