SCHEDULE: Principal Investors Disclose 5.1% Ryman Hospitality Stake

Principal Real Estate Investors LLC and Principal Global Investors have jointly disclosed a combined 5.1% beneficial ownership stake in Ryman Hospitality Properties, Inc.

Summary

• Principal Real Estate Investors LLC and Principal Global Investors, both Delaware-based investment advisers, have filed an Amendment No. 1 to Schedule 13G.
• The filing reports their beneficial ownership in Ryman Hospitality Properties, Inc.'s Common Stock as of June 30, 2025.
• Principal Real Estate Investors LLC beneficially owns 2,813,644 shares, representing 4.5% of the class.
• Principal Global Investors beneficially owns 397,513 shares, representing 0.6% of the class.
• Combined, the two entities beneficially own 3,211,157 shares, totaling 5.1% of Ryman Hospitality Properties, Inc.'s Common Stock.
• Both entities hold shared voting and shared dispositive power over their respective shares.
• The investment is certified as being acquired and held in the ordinary course of business, not for the purpose of changing or influencing the control of the issuer.

Sentiment

Score: 7

Explanation: The filing indicates a significant, passive institutional investment, suggesting confidence in the issuer. While it doesn't provide operational or financial performance details, the act of holding a substantial stake by reputable investment advisers is generally viewed positively by the market.

Positives

• The disclosure of a significant 5.1% stake by institutional investors like Principal Real Estate Investors LLC and Principal Global Investors indicates a vote of confidence in Ryman Hospitality Properties, Inc.'s long-term prospects.
• The certification that the shares are held in the ordinary course of business and not for control purposes suggests a passive, long-term investment, which can provide stability to the shareholder base.

Risks

• The filing itself does not detail specific risks related to Ryman Hospitality Properties, Inc.'s operations or financial health, as it is a disclosure of beneficial ownership.
• The investment is stated to be passive, meaning the reporting persons do not intend to influence or change control of the issuer, thus mitigating immediate governance-related risks from this specific filing.

Future Outlook

NA

Management Comments

• J. Markham Penrod, Chief Compliance Officer North America, Principal Asset Management, certified that the securities were acquired and are held in the ordinary course of business and not for the purpose of or with the effect of changing or influencing the control of the issuer.

Industry Context

This filing reflects a significant institutional investment in a publicly traded hospitality real estate investment trust (REIT). Such disclosures are common for large asset managers and indicate their portfolio allocations within the real estate or broader equity markets.

Stakeholder Impact

• Shareholders: The disclosure of a significant institutional holder can provide reassurance and potentially influence investor sentiment positively, signaling institutional confidence in the company.

Key Dates

Keywords

Ryman Hospitality Properties, Principal Real Estate Investors, Principal Global Investors, Schedule 13G, Beneficial Ownership, Institutional Investment, Common Stock, Hospitality REIT, SEC Filing