Ryman Hospitality Properties shares surged 4.5% to close at $129.77 in the last trading session, driven by the company's announcement that it has engaged Morgan Stanley to explore strategic options for its Opry Entertainment Group business, including a potential partial divestiture or strategic partnerships. The move was backed by solid volume, and the stock has gained 8.5% over the past four weeks. The company is expected to report quarterly funds from operations of $2.29 per share, a year-over-year decline of 2.6%, on revenues of $729.95 million, up 10.7%. The consensus FFO estimate for the quarter has been revised 1% higher over the last 30 days. Ryman Hospitality Properties currently carries a Zacks Rank #3, or Hold.
Ryman Hospitality Properties IncCompany announced strategic review of Opry Entertainment Group, including potential partial divestiture or partnerships, driving stock up 4.5%.
Host Hotels & Resorts Inc
Morgan Stanley