Ryman Hospitality Properties, Inc. (NYSE:RHP) Short Interest Update

Key Points

• Short interest in Ryman Hospitality Properties surged 85.1% in June, reaching 2,590,582 shares by June 30. That represents about 4.2% of the company’s shares short sold, with a short-interest ratio of 2.9 days.
• Wall Street sentiment remains mostly positive: 11 analysts rate RHP a Buy and one rates it Hold, giving the stock a consensus rating of “Moderate Buy.” The average price target is $122.27.
• Ryman recently paid a quarterly dividend of $1.20 per share, equal to $4.80 annually and a 3.8% yield. The payout ratio is high at 126.65%, which may be worth noting for income-focused investors.

Ryman Hospitality Properties, Inc. (NYSE:RHP - Get Free Report) was the recipient of a significant growth in short interest during the month of June. As of June 30th, there was short interest totaling 2,590,582 shares, a growth of 85.1% from the June 15th total of 1,399,452 shares. Based on an average daily volume of 895,491 shares, the short-interest ratio is currently 2.9 days. Approximately 4.2% of the company's shares are short sold.

Wall Street Analyst Weigh In

RHP has been the topic of several analyst reports. BMO Capital Markets reaffirmed an "outperform" rating and issued a $137.00 target price on shares of Ryman Hospitality Properties in a research note on Friday, June 12th. JPMorgan Chase & Co. increased their price target on shares of Ryman Hospitality Properties from $111.00 to $113.00 and gave the company an "overweight" rating in a research report on Tuesday, May 5th. Truist Financial raised their price target on shares of Ryman Hospitality Properties from $129.00 to $132.00 and gave the stock a "buy" rating in a report on Tuesday, May 26th. Weiss Ratings cut shares of Ryman Hospitality Properties from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, May 6th. Finally, Barclays upped their price objective on shares of Ryman Hospitality Properties from $110.00 to $120.00 and gave the company an "overweight" rating in a research note on Monday, June 1st. Eleven analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $122.27.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Inspire Investing LLC raised its holdings in Ryman Hospitality Properties by 2.0% in the 1st quarter. Inspire Investing LLC now owns 5,564 shares of the real estate investment trust's stock worth $513,000 after purchasing an additional 111 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its stake in shares of Ryman Hospitality Properties by 61.7% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 296 shares of the real estate investment trust's stock valued at $27,000 after purchasing an additional 113 shares in the last quarter. Norinchukin Bank The increased its position in shares of Ryman Hospitality Properties by 4.2% during the third quarter. Norinchukin Bank The now owns 2,978 shares of the real estate investment trust's stock valued at $267,000 after buying an additional 119 shares during the period. Janney Montgomery Scott LLC increased its position in shares of Ryman Hospitality Properties by 0.4% during the first quarter. Janney Montgomery Scott LLC now owns 32,296 shares of the real estate investment trust's stock valued at $2,980,000 after buying an additional 124 shares during the period. Finally, Lido Advisors LLC increased its position in shares of Ryman Hospitality Properties by 3.1% during the fourth quarter. Lido Advisors LLC now owns 4,332 shares of the real estate investment trust's stock valued at $397,000 after buying an additional 132 shares during the period. 94.48% of the stock is owned by hedge funds and other institutional investors.

Ryman Hospitality Properties Price Performance

Shares of RHP stock opened at $125.12 on Friday. The company has a debt-to-equity ratio of 5.15, a quick ratio of 1.35 and a current ratio of 1.35. Ryman Hospitality Properties has a fifty-two week low of $83.82 and a fifty-two week high of $132.41. The firm has a market cap of $7.90 billion, a P/E ratio of 33.01, a P/E/G ratio of 2.26 and a beta of 1.20. The business's 50 day moving average price is $119.68 and its 200-day moving average price is $105.20.

Ryman Hospitality Properties Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a $1.20 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $4.80 dividend on an annualized basis and a yield of 3.8%. Ryman Hospitality Properties's dividend payout ratio (DPR) is presently 126.65%.

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.

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