Ryman Hospitality Properties, Inc. (NYSE:RHP) Short Interest Up 46.4% in March

Key Points

• Short interest rose 46.4% in March to 2,716,199 shares (about 4.5% of shares outstanding), with a days-to-cover ratio of 5.7 based on average daily volume.
• Wall Street consensus is a Moderate Buy (10 Buys, 1 Hold) with an average price target of $114.10.
• Ryman paid a $1.20 quarterly dividend (paid Apr 15), implying a 4.8% yield but a high payout ratio of 127.66%, meaning dividends currently exceed reported earnings.

Ryman Hospitality Properties, Inc. (NYSE:RHP - Get Free Report) saw a significant increase in short interest during the month of March. As of March 31st, there was short interest totaling 2,716,199 shares, an increase of 46.4% from the March 15th total of 1,855,245 shares. Currently, 4.5% of the shares of the company are short sold. Based on an average daily volume of 477,882 shares, the days-to-cover ratio is presently 5.7 days.

Wall Street Analyst Weigh In

Several brokerages have issued reports on RHP. Cantor Fitzgerald raised their price objective on Ryman Hospitality Properties from $108.00 to $115.00 and gave the stock an "overweight" rating in a report on Tuesday, March 3rd. Wells Fargo & Company dropped their price objective on Ryman Hospitality Properties from $109.00 to $105.00 and set an "overweight" rating on the stock in a report on Tuesday, March 24th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Ryman Hospitality Properties in a report on Wednesday, January 28th. Truist Financial raised their price objective on Ryman Hospitality Properties from $121.00 to $129.00 and gave the stock a "buy" rating in a report on Thursday, March 26th. Finally, Barclays raised their price objective on Ryman Hospitality Properties from $109.00 to $110.00 and gave the stock an "overweight" rating in a report on Tuesday, April 7th. Ten equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $114.10.

Hedge Funds Weigh In On Ryman Hospitality Properties

A number of hedge funds and other institutional investors have recently made changes to their positions in RHP. Norges Bank purchased a new stake in Ryman Hospitality Properties in the 4th quarter valued at approximately $48,036,000. Invesco Ltd. boosted its holdings in Ryman Hospitality Properties by 184.9% in the 3rd 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. purchased a new stake in Ryman Hospitality Properties in the 3rd quarter valued at approximately $30,975,000. Qube Research & Technologies Ltd purchased a new stake in Ryman Hospitality Properties in the 3rd quarter valued at approximately $18,161,000. Finally, UBS Group AG boosted its holdings 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 purchasing an additional 199,556 shares in the last quarter. Hedge funds and other institutional investors own 94.48% of the company's stock.

Ryman Hospitality Properties Stock Performance

Shares of NYSE RHP traded down $0.11 during midday trading on Thursday, reaching $100.94. 290,372 shares of the company were exchanged, compared to its average volume of 500,171. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 5.04. Ryman Hospitality Properties has a 1 year low of $83.37 and a 1 year high of $105.75. The stock has a fifty day simple moving average of $96.86 and a 200 day simple moving average of $94.39. The stock has a market cap of $6.37 billion, a P/E ratio of 26.87, a PEG ratio of 1.95 and a beta of 1.19.

Ryman Hospitality Properties Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were issued a dividend of $1.20 per share. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $4.80 dividend on an annualized basis and a dividend yield of 4.8%. Ryman Hospitality Properties's dividend payout ratio (DPR) is currently 127.66%.

Ryman Hospitality Properties Company Profile

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.

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