SummitTX Capital L.P. Buys Shares of 79,454 Ryman Hospitality Properties, Inc. $RHP

SummitTX Capital L.P. purchased a new position in shares of Ryman Hospitality Properties, Inc. (NYSE:RHP) in the first quarter, HoldingsChannel reports. The fund purchased 79,454 shares of the real estate investment trust’s stock, valued at approximately $7,331,000.

Several other hedge funds also recently made changes to their positions in RHP. Norges Bank bought a new stake in shares of Ryman Hospitality Properties in the fourth quarter worth $48,036,000. Invesco Ltd. grew its position in Ryman Hospitality Properties by 184.9% in the third 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. bought a new position in Ryman Hospitality Properties in the third quarter valued at $30,975,000. Qube Research & Technologies Ltd acquired a new stake in Ryman Hospitality Properties in the 3rd quarter valued at $18,161,000. Finally, UBS Group AG increased its stake in 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 buying an additional 199,556 shares during the last quarter. 94.48% of the stock is owned by institutional investors.

Ryman Hospitality Properties Stock Performance

Shares of RHP stock opened at $132.99 on Monday. The company has a fifty day moving average price of $122.35 and a two-hundred day moving average price of $106.65. Ryman Hospitality Properties, Inc. has a one year low of $83.82 and a one year high of $133.75. The stock has a market cap of $8.39 billion, a P/E ratio of 35.09, a P/E/G ratio of 2.39 and a beta of 1.20. The company has a debt-to-equity ratio of 5.15, a current ratio of 1.35 and a quick ratio of 1.35.

Ryman Hospitality Properties Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 3.6%. The ex-dividend date was Tuesday, June 30th. Ryman Hospitality Properties’s dividend payout ratio (DPR) is 126.65%.

Analyst Upgrades and Downgrades

Several brokerages have commented on RHP. Cantor Fitzgerald boosted their price target on shares of Ryman Hospitality Properties from $115.00 to $124.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 13th. Weiss Ratings downgraded Ryman Hospitality Properties from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, May 6th. JPMorgan Chase & Co. upped their target price on Ryman Hospitality Properties from $113.00 to $129.00 and gave the stock an “overweight” rating in a report on Tuesday, July 21st. BMO Capital Markets reissued an “outperform” rating and set a $137.00 price target on shares of Ryman Hospitality Properties in a research report on Friday, June 12th. Finally, Raymond James Financial restated an “outperform” rating and issued a $125.00 price target on shares of Ryman Hospitality Properties in a research note on Monday, June 8th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $127.10.

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.