Verition Fund Management LLC trimmed its holdings in shares of Ryman Hospitality Properties, Inc. (NYSE:RHP – Get Rating) by 78.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,958 shares of the real estate investment trust’s stock after selling 10,531 shares during the quarter. Verition Fund Management LLC’s holdings in Ryman Hospitality Properties were worth $218,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in the business. FMR LLC increased its stake in shares of Ryman Hospitality Properties by 36.3% during the second quarter. FMR LLC now owns 3,139,745 shares of the real estate investment trust’s stock valued at $238,715,000 after buying an additional 836,292 shares during the period. State Street Corp increased its stake in shares of Ryman Hospitality Properties by 14.6% during the first quarter. State Street Corp now owns 2,640,373 shares of the real estate investment trust’s stock valued at $244,947,000 after buying an additional 336,493 shares during the period. Goldman Sachs Group Inc. grew its stake in Ryman Hospitality Properties by 16.1% in the first quarter. Goldman Sachs Group Inc. now owns 2,071,299 shares of the real estate investment trust’s stock valued at $192,155,000 after purchasing an additional 287,880 shares during the last quarter. Macquarie Group Ltd. grew its stake in Ryman Hospitality Properties by 31.8% in the second quarter. Macquarie Group Ltd. now owns 606,575 shares of the real estate investment trust’s stock valued at $46,124,000 after purchasing an additional 146,492 shares during the last quarter. Finally, Mackenzie Financial Corp grew its stake in Ryman Hospitality Properties by 1,564.8% in the second quarter. Mackenzie Financial Corp now owns 97,259 shares of the real estate investment trust’s stock valued at $7,395,000 after purchasing an additional 91,417 shares during the last quarter. 92.80% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several research firms have issued reports on RHP. TheStreet upgraded Ryman Hospitality Properties from a “c” rating to a “b-” rating in a research note on Friday, February 24th. Raymond James lifted their target price on Ryman Hospitality Properties from $95.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, December 9th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on Ryman Hospitality Properties from $126.00 to $120.00 and set a “buy” rating on the stock in a research note on Monday, February 27th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $106.80.
Ryman Hospitality Properties Stock Performance
Ryman Hospitality Properties Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 17th. Stockholders of record on Friday, March 31st will be issued a dividend of $0.75 per share. The ex-dividend date of this dividend is Thursday, March 30th. This represents a $3.00 annualized dividend and a dividend yield of 3.33%. This is an increase from Ryman Hospitality Properties’s previous quarterly dividend of $0.25. Ryman Hospitality Properties’s dividend payout ratio is 43.86%.
About Ryman Hospitality Properties
Ryman Hospitality Properties, Inc is a real estate investment trust, which engages in owning and operating group-oriented, destination hotel assets in urban and resort markets. It operates through the following segments: Hospitality, Entertainment, and Corporate and Other. The Hospitality segment includes directly-owned hotel properties and hotel operations, as well as the Gaylord Rockies joint venture.
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