Cooke & Bieler Sees Ryman Investments Fueling 2027 Growth
The investor letter cited strong hospitality results, Desert Ridge’s early performance and a possible sale of Ryman’s entertainment business.
Ryman Hospitality Properties was the third-largest contributor to Cooke & Bieler’s Mid Cap Value Equity Strategy in the second quarter of 2026, according to the firm’s investor letter. The managers cited strong results in Ryman’s Hospitality segment and better-than-expected early performance at its new Desert Ridge property.
They said investors had grown more optimistic that the company’s heavy investments in 2025 and 2026 would drive a fundamental acceleration in 2027. Ryman closed at $122.09 on Sept. 28.
The letter also said Ryman announced late in the quarter that it was exploring a sale of its non-REIT Entertainment segment. The managers said a sale could leave Ryman as a pure-play REIT and provide proceeds for further investment or capital returns.
The strategy returned 8.05% in the quarter, trailing the Russell Midcap Value Index’s 13.4% return. Cooke & Bieler said an underweight position in Information Technology drove nearly all of the shortfall as the sector surged 60% on AI capital spending.
This article was produced with the help of AI technology.
Source: Yahoo Finance
