Universal Beteiligungs und Servicegesellschaft mbH has reduced its stake in Ryman Hospitality Properties, Inc. (NYSE:RHP) by 6.3% during the third quarter of 2023. The company disclosed this reduction in its latest filing with the Securities and Exchange Commission, revealing it now holds 90,439 shares after selling 6,032 shares. At the time of the filing, Universal Beteiligungs owned approximately 0.14% of Ryman Hospitality Properties, valued at around $8.1 million.
Several other institutional investors have also adjusted their positions in Ryman Hospitality Properties recently. Notably, the Royal Bank of Canada has increased its holdings by 44.1% in the first quarter, now owning 39,740 shares valued at $3.6 million after acquiring an additional 12,169 shares. AQR Capital Management LLC significantly boosted its stake by 131.0%, bringing its total to 13,418 shares worth $1.2 million. Goldman Sachs Group Inc. also added to its position, increasing its ownership by 8.8% to 784,970 shares valued at $71.8 million.
Other significant adjustments include a 306.5% increase in shares owned by Jane Street Group LLC and a 240.2% increase by Geneos Wealth Management Inc. Currently, institutional investors control approximately 94.48% of Ryman Hospitality Properties.
Insider Transactions and Analyst Ratings
In a recent insider transaction, Chairman Colin V. Reed purchased 8,993 shares of Ryman Hospitality Properties on November 7, 2023, at an average price of $92.16 per share, totaling approximately $828,795. Following this transaction, Reed’s total ownership increased to 888,010 shares, valued at around $81.8 million. Company insiders collectively own about 5.00% of the company’s stock.
Analyst sentiment regarding Ryman Hospitality Properties has varied recently. On January 16, 2024, Morgan Stanley set a price target of $88.00. Meanwhile, Deutsche Bank Aktiengesellschaft reaffirmed a buy rating with a target of $131.00. A report from Wall Street Zen upgraded the stock from a “sell” to a “hold” rating as of November 8, 2023. Overall, ten analysts have rated the stock as a buy, with a consensus rating of “Moderate Buy” and a target price of $110.27, according to MarketBeat.
Market Performance and Financial Outlook
As of the latest trading session, shares of Ryman Hospitality Properties opened at $95.42. The company has demonstrated strong financial metrics, with a debt-to-equity ratio of 4.98, a quick ratio of 1.49, and a current ratio also at 1.49. Over the past year, the stock has fluctuated between a low of $76.27 and a high of $108.42.
The company’s earnings report for the third quarter, released on November 4, 2023, showed an earnings per share (EPS) of $1.63, exceeding analysts’ expectations of $1.59 by $0.04. Ryman Hospitality Properties generated revenue of $592.46 million, significantly higher than the estimated $573.40 million. This marks a 7.7% increase in revenue compared to the same period last year. Analysts predict that the company will report an EPS of $8.81 for the current fiscal year.
Additionally, Ryman Hospitality Properties announced an increased quarterly dividend of $1.20 per share, paid on January 15, 2024. This is a rise from the previous dividend of $1.15, reflecting a positive trend in shareholder returns. The annualized dividend now stands at $4.80, resulting in a yield of 5.0%.
Ryman Hospitality Properties focuses on owning and operating large convention center hotel resorts, primarily through its Gaylord Hotels brand. Its flagship properties include the Gaylord Opryland Resort & Convention Center in Nashville and the Gaylord Texan Resort & Convention Center near Dallas/Fort Worth.
