Diamond Hill Capital: “Ryman Hospitality (RHP) is a Well-Run, Resiliently Positioned REIT”

Diamond Hill Capital, an investment management firm, published its “Diamond Hill Small Cap Fund” fourth-quarter 2021 investor letter – a copy of which can be downloaded here. The portfolio outpaced the Russell 2000® Index in the quarter, adding to full-year outperformance. Relative performance was aided by our below-benchmark health care exposure, particularly its lack of exposure to biotechnology stocks which were down nearly 13% in the quarter and represent almost half the sector’s weight Spare some time to check the fund’s top 5 holdings to have a clue about their top bets for 2022.

Diamond Hill Small Cap Fund, in its Q4 2021 investor letter, mentioned Ryman Hospitality Properties, Inc. (NYSE: RHP) and discussed its stance on the firm. Ryman Hospitality Properties, Inc. is a Nashville, Tennessee-based entertainment company with a $4.9 billion market capitalization. RHP delivered a -1.42% return since the beginning of the year, while its 12-month returns are up by 17.29%. The stock closed at $90.65 per share on February 25, 2022.

Here is what Diamond Hill Small Cap Fund has to say about Ryman Hospitality Properties, Inc. in its Q4 2021 investor letter:

“Ryman Hospitality is a well-run, resiliently positioned REIT that has carved out a core competency in the group-travel business. The company owns 5 of the 10 largest convention-oriented resorts under the Gaylord Hotel brand, and it has a small entertainment business which owns iconic assets like the Grand Ole Opry and Ryman Auditorium. We believe the group-travel business will normalize and potentially be of heightened importance given the increase in remote work. Pandemic-related industry-wide disruptions coupled with the inflationary dynamic in construction should result in minimal new industry capacity over the next five years, favoring Ryman’s portfolio of assets.”

Beach Holiday, Hotel, Tourist Resort, Making a Reservation, Growth

Our calculations show that Ryman Hospitality Properties, Inc. (NYSE: RHP) failed to obtain a mark on our list of the 30 Most Popular Stocks Among Hedge Funds. RHP was in 16 hedge fund portfolios at the end of the fourth quarter of 2021, compared to 21 funds in the previous quarter. Ryman Hospitality Properties, Inc. (NYSE: RHP) delivered a 12.26% return in the past 3 months.

In March 2021, we also shared another hedge fund’s views on RHP in another article. You can find other letters from hedge funds and prominent investors on our hedge fund investor letters 2021 Q4 page.

Disclosure: None. This article is originally published at Insider Monkey.