Short Interest in Ryman Hospitality Properties, Inc. (NYSE:RHP) Drops By 36.5%

Key Points

• Short interest fell by 36.5% in April to 1,724,981 shares (about 2.8% of the stock), cutting the days-to-cover ratio to 3.7.
• Analysts are broadly positive with a consensus Buy rating and an average price target of $115 after several upgrades and price-target increases from firms including Morgan Stanley, Cantor Fitzgerald and Deutsche Bank.
• Ryman declared a quarterly dividend of $1.20 (annualized $4.80), implying a 4.6% yield, though the payout ratio is elevated at 127.66%.

Ryman Hospitality Properties, Inc. (NYSE:RHP - Get Free Report) was the recipient of a significant decline in short interest in April. As of April 15th, there was short interest totaling 1,724,981 shares, a decline of 36.5% from the March 31st total of 2,716,199 shares. Approximately 2.8% of the company's stock are short sold. Based on an average trading volume of 467,872 shares, the days-to-cover ratio is currently 3.7 days.

Analyst Ratings Changes

Several research firms recently weighed in on RHP. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $131.00 price objective on shares of Ryman Hospitality Properties in a report on Tuesday, January 13th. Cantor Fitzgerald lifted their price objective on Ryman Hospitality Properties from $108.00 to $115.00 and gave the company an "overweight" rating in a report on Tuesday, March 3rd. Morgan Stanley upgraded Ryman Hospitality Properties from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $88.00 to $105.00 in a report on Friday, April 10th. Evercore reiterated an "outperform" rating and issued a $115.00 target price on shares of Ryman Hospitality Properties in a report on Friday, February 6th. Finally, Weiss Ratings upgraded shares of Ryman Hospitality Properties from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, April 22nd. Eleven analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Ryman Hospitality Properties presently has an average rating of "Buy" and a consensus price target of $115.00.

Institutional Investors Weigh In On Ryman Hospitality Properties

Large investors have recently modified their holdings of the business. Cornerstone Planning Group LLC grew its stake in shares of Ryman Hospitality Properties by 2,241.7% during the third quarter. Cornerstone Planning Group LLC now owns 281 shares of the real estate investment trust's stock worth $25,000 after acquiring an additional 269 shares during the last quarter. Global Retirement Partners LLC grew its stake in shares of Ryman Hospitality Properties by 155.0% during the fourth quarter. Global Retirement Partners LLC now owns 283 shares of the real estate investment trust's stock worth $27,000 after acquiring an additional 172 shares during the last quarter. Los Angeles Capital Management LLC purchased a new stake in shares of Ryman Hospitality Properties during the fourth quarter worth about $28,000. Hantz Financial Services Inc. grew its stake in shares of Ryman Hospitality Properties by 283.1% during the third quarter. Hantz Financial Services Inc. now owns 295 shares of the real estate investment trust's stock worth $26,000 after acquiring an additional 218 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its stake in shares of Ryman Hospitality Properties by 61.7% during the third quarter. Caitong International Asset Management Co. Ltd now owns 296 shares of the real estate investment trust's stock worth $27,000 after acquiring an additional 113 shares during the last quarter. Hedge funds and other institutional investors own 94.48% of the company's stock.

Ryman Hospitality Properties Stock Up 2.1%

Ryman Hospitality Properties stock traded up $2.12 during trading hours on Tuesday, reaching $103.99. The stock had a trading volume of 694,513 shares, compared to its average volume of 480,027. The company has a market cap of $6.56 billion, a price-to-earnings ratio of 27.66, a PEG ratio of 1.93 and a beta of 1.19. The company has a debt-to-equity ratio of 5.04, a current ratio of 1.46 and a quick ratio of 1.46. The business's 50 day moving average price is $97.26 and its 200-day moving average price is $95.22. Ryman Hospitality Properties has a 52 week low of $83.82 and a 52 week high of $105.75.

Ryman Hospitality Properties Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were paid a dividend of $1.20 per share. The ex-dividend date was Tuesday, March 31st. This represents a $4.80 dividend on an annualized basis and a dividend yield of 4.6%. Ryman Hospitality Properties's payout ratio is presently 127.66%.

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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