Ryman Hospitality slips on planned equity raise for JW Marriott Phoenix asset acquisition

Ryman Hospitality Properties

19/05/2025 22:19

**  Shares of Ryman Hospitality Properties RHP.N down 2.6% post-market at $96.55 after acquisition-related equity offering news

** Real estate investment trust commences 2.3 mln share offering to partially fund approx recently announced $865 mln pending buy of the JW Marriott Phoenix Desert Ridge Resort & Spa, located in Arizona

** If acquisition is not consummated, Ryman says will use net proceeds for general corporate purposes

** Morgan Stanley, BofA, J.P. Morgan and Wells Fargo jt lead bookrunners for the offering

** Nashville, Tennessee-based Ryman has 60 mln shares outstanding for $6 bln market cap

** RHP shares on Mon finished up 0.2% at $99.17, down 5% YTD. Stock's 52-week high is $121.77 (Dec 3, 2024) and 52-week low is $76.27 (Apr 9, 2025)

** All 12 analysts are bullish on RHP, including 5 "strong buy" ratings and the median PT is $116, latest LSEG data shows

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))