Summit Global Investments Sells 9,400 Shares of Ryman Hospitality Properties, Inc. (NYSE:RHP)

Summit Global Investments reduced its holdings in Ryman Hospitality Properties, Inc. (NYSE:RHP) by 48.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 9,966 shares of the real estate investment trust’s stock after selling 9,400 shares during the quarter. Summit Global Investments’ holdings in Ryman Hospitality Properties were worth $1,097,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. GAMMA Investing LLC acquired a new stake in Ryman Hospitality Properties in the fourth quarter worth $27,000. Signaturefd LLC grew its position in Ryman Hospitality Properties by 518.9% in the 4th quarter. Signaturefd LLC now owns 328 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 275 shares during the period. Covestor Ltd increased its stake in Ryman Hospitality Properties by 15.5% during the 3rd quarter. Covestor Ltd now owns 1,218 shares of the real estate investment trust’s stock valued at $101,000 after purchasing an additional 163 shares in the last quarter. Schnieders Capital Management LLC acquired a new position in Ryman Hospitality Properties during the fourth quarter worth $216,000. Finally, TIAA Trust National Association bought a new position in shares of Ryman Hospitality Properties in the fourth quarter valued at $220,000. 94.48% of the stock is currently owned by institutional investors.

Ryman Hospitality Properties Stock Performance

NYSE:RHP traded down $0.39 during trading on Friday, reaching $104.43. The company’s stock had a trading volume of 857,973 shares, compared to its average volume of 448,489. Ryman Hospitality Properties, Inc. has a 12 month low of $79.86 and a 12 month high of $122.91. The firm has a market cap of $6.25 billion, a price-to-earnings ratio of 21.63, a price-to-earnings-growth ratio of 0.78 and a beta of 1.59. The firm has a 50 day moving average of $113.27 and a 200-day moving average of $107.51. The company has a debt-to-equity ratio of 5.90, a quick ratio of 1.97 and a current ratio of 1.97.

Ryman Hospitality Properties Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were given a dividend of $1.10 per share. The ex-dividend date was Wednesday, March 27th. This represents a $4.40 annualized dividend and a yield of 4.21%. Ryman Hospitality Properties’s payout ratio is currently 91.10%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. StockNews.com raised shares of Ryman Hospitality Properties from a “sell” rating to a “hold” rating in a research report on Friday, February 23rd. Wells Fargo & Company raised their target price on Ryman Hospitality Properties from $125.00 to $133.00 and gave the company an “overweight” rating in a report on Thursday, March 21st. Raymond James lifted their target price on Ryman Hospitality Properties from $115.00 to $135.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. Finally, Truist Financial lifted their price objective on shares of Ryman Hospitality Properties from $134.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday, March 14th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $118.00.

Insider Buying and Selling

In other Ryman Hospitality Properties news, COO Patrick S. Chaffin sold 16,189 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $119.74, for a total value of $1,938,470.86. Following the transaction, the chief operating officer now directly owns 17,618 shares in the company, valued at $2,109,579.32. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 3.00% of the stock is currently owned by corporate insiders.

Ryman Hospitality Properties Company Profile

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.