Ryman Hospitality Properties, Inc. $RHP Shares Acquired by Legal & General Group Plc

Legal & General Group Plc grew its stake in Ryman Hospitality Properties, Inc. (NYSE:RHP) by 5.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 436,511 shares of the real estate investment trust’s stock after purchasing an additional 23,224 shares during the period. Legal & General Group Plc’s holdings in Ryman Hospitality Properties were worth $41,303,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of RHP. Invesco Ltd. raised its stake in shares of 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. Balyasny Asset Management L.P. acquired a new stake in shares of Ryman Hospitality Properties in the 3rd quarter valued at about $30,975,000. Qube Research & Technologies Ltd acquired a new stake in shares of Ryman Hospitality Properties in the 3rd quarter valued at about $18,161,000. UBS Group AG raised its stake in shares of Ryman Hospitality Properties by 116.3% in the 3rd quarter. UBS Group AG now owns 371,163 shares of the real estate investment trust’s stock valued at $33,252,000 after purchasing an additional 199,556 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Ryman Hospitality Properties by 1.9% in the 3rd quarter. Vanguard Group Inc. now owns 9,108,548 shares of the real estate investment trust’s stock valued at $816,035,000 after purchasing an additional 166,293 shares in the last quarter. Institutional investors and hedge funds own 94.48% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Truist Financial increased their price objective 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. JPMorgan Chase & Co. increased their price objective on shares of Ryman Hospitality Properties from $111.00 to $113.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 5th. Cantor Fitzgerald increased their price objective on shares of Ryman Hospitality Properties from $115.00 to $124.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 13th. Barclays increased their price objective on shares of Ryman Hospitality Properties from $109.00 to $110.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 7th. Finally, Wells Fargo & Company increased their price objective on shares of Ryman Hospitality Properties from $105.00 to $114.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 22nd. Nine equities research analysts have rated the stock with a Buy rating and one has assigned a Hold 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 $117.89.

Ryman Hospitality Properties Price Performance

Shares of NYSE:RHP opened at $114.87 on Friday. The firm’s 50 day moving average is $102.34 and its two-hundred day moving average is $98.25. Ryman Hospitality Properties, Inc. has a 52 week low of $83.82 and a 52 week high of $117.18. The firm has a market capitalization of $7.25 billion, a P/E ratio of 30.31, a PEG ratio of 2.67 and a beta of 1.22. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 5.15.

Ryman Hospitality Properties Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be paid a $1.20 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $4.80 annualized dividend and a dividend yield of 4.2%. Ryman Hospitality Properties’s dividend payout ratio (DPR) is presently 126.65%.

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.