PNC Financial Services Group Inc. cut its holdings in Ryman Hospitality Properties Inc (NYSE:RHP) by 8.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,218 shares of the real estate investment trust’s stock after selling 3,365 shares during the quarter. PNC Financial Services Group Inc. owned 0.07% of Ryman Hospitality Properties worth $3,036,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in RHP. Cbre Clarion Securities LLC lifted its position in Ryman Hospitality Properties by 4,354.4% in the 2nd quarter. Cbre Clarion Securities LLC now owns 459,518 shares of the real estate investment trust’s stock valued at $38,209,000 after acquiring an additional 449,202 shares in the last quarter. Millennium Management LLC lifted its position in Ryman Hospitality Properties by 94.4% in the 2nd quarter. Millennium Management LLC now owns 890,028 shares of the real estate investment trust’s stock valued at $74,006,000 after acquiring an additional 432,295 shares in the last quarter. Renaissance Technologies LLC lifted its position in Ryman Hospitality Properties by 46.5% in the 2nd quarter. Renaissance Technologies LLC now owns 623,641 shares of the real estate investment trust’s stock valued at $51,856,000 after acquiring an additional 198,000 shares in the last quarter. BlackRock Inc. lifted its position in Ryman Hospitality Properties by 2.4% in the 2nd quarter. BlackRock Inc. now owns 4,719,284 shares of the real estate investment trust’s stock valued at $392,410,000 after acquiring an additional 112,282 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its position in Ryman Hospitality Properties by 28.9% in the 2nd quarter. Russell Investments Group Ltd. now owns 475,807 shares of the real estate investment trust’s stock valued at $39,437,000 after acquiring an additional 106,585 shares in the last quarter. 85.39% of the stock is currently owned by institutional investors and hedge funds.
RHP has been the topic of several analyst reports. Bank of America upped their price objective on Ryman Hospitality Properties from $90.00 to $94.00 and gave the company a “buy” rating in a research report on Tuesday, September 18th. Citigroup set a $98.00 price objective on Ryman Hospitality Properties and gave the company a “buy” rating in a research report on Monday, September 17th. Deutsche Bank set a $94.00 price objective on Ryman Hospitality Properties and gave the company a “buy” rating in a research report on Saturday, September 15th. SunTrust Banks reaffirmed a “hold” rating and issued a $76.00 price objective on shares of Ryman Hospitality Properties in a research report on Thursday, November 22nd. Finally, ValuEngine cut Ryman Hospitality Properties from a “buy” rating to a “hold” rating in a research report on Thursday, November 1st. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $88.50.
Shares of RHP opened at $73.60 on Friday. The firm has a market cap of $3.87 billion, a price-to-earnings ratio of 12.76, a P/E/G ratio of 1.67 and a beta of 1.24. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 4.74. Ryman Hospitality Properties Inc has a 1-year low of $66.35 and a 1-year high of $90.02.
Ryman Hospitality Properties (NYSE:RHP) last announced its earnings results on Tuesday, November 6th. The real estate investment trust reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.70). The company had revenue of $292.25 million for the quarter, compared to analysts’ expectations of $277.54 million. Ryman Hospitality Properties had a net margin of 14.11% and a return on equity of 51.08%. Ryman Hospitality Properties’s quarterly revenue was up 10.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.02 earnings per share. Sell-side analysts expect that Ryman Hospitality Properties Inc will post 5.87 earnings per share for the current year.
In related news, CEO Colin V. Reed bought 13,031 shares of the firm’s stock in a transaction on Monday, November 12th. The stock was acquired at an average cost of $75.83 per share, for a total transaction of $988,140.73. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 3.20% of the stock is currently owned by insiders.
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Ryman Hospitality Properties Company Profile
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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