Ryman Hospitality Properties, Inc. Declares Quarterly Dividend of $1.00 (NYSE:RHP)

Ryman Hospitality Properties, Inc. (NYSE:RHP) announced a quarterly dividend on Monday, September 18th, Zacks reports. Stockholders of record on Friday, September 29th will be paid a dividend of 1.00 per share by the real estate investment trust on Monday, October 16th. This represents a $4.00 annualized dividend and a dividend yield of 4.71%. The ex-dividend date of this dividend is Thursday, September 28th.

Ryman Hospitality Properties has decreased its dividend by an average of 54.0% annually over the last three years and has increased its dividend annually for the last 1 consecutive years. Ryman Hospitality Properties has a payout ratio of 86.8% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Analysts expect Ryman Hospitality Properties to earn $7.47 per share next year, which means the company should continue to be able to cover its $4.00 annual dividend with an expected future payout ratio of 53.5%.

Ryman Hospitality Properties Trading Down 0.2 %

Shares of RHP stock opened at $84.90 on Tuesday. The company has a 50 day moving average of $88.66 and a 200-day moving average of $90.34. The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 6.78. Ryman Hospitality Properties has a 12-month low of $71.63 and a 12-month high of $98.60. The firm has a market cap of $5.07 billion, a P/E ratio of 21.31, a PEG ratio of 3.51 and a beta of 1.57.

Analyst Ratings Changes

Several brokerages have recently issued reports on RHP. Deutsche Bank Aktiengesellschaft raised their price target on shares of Ryman Hospitality Properties from $128.00 to $129.00 and gave the stock a “buy” rating in a research note on Monday, August 7th. Wells Fargo & Company lifted their price objective on shares of Ryman Hospitality Properties from $96.00 to $107.00 in a research note on Wednesday, July 12th. JPMorgan Chase & Co. reduced their price target on shares of Ryman Hospitality Properties from $93.00 to $88.00 and set an “underweight” rating for the company in a research report on Monday, August 7th. Truist Financial boosted their price target on shares of Ryman Hospitality Properties from $119.00 to $123.00 and gave the company a “buy” rating in a research report on Friday. Finally, StockNews.com initiated coverage on shares of Ryman Hospitality Properties in a research report on Thursday, August 17th. They set a “sell” rating for the company. Two analysts have rated the stock with a sell rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $109.40.

Insider Activity at Ryman Hospitality Properties

In other Ryman Hospitality Properties news, Director William E. Haslam purchased 11,507 shares of the business’s stock in a transaction on Monday, August 14th. The stock was acquired at an average cost of $86.90 per share, for a total transaction of $999,958.30. Following the completion of the transaction, the director now directly owns 11,507 shares in the company, valued at approximately $999,958.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 3.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. KB Financial Partners LLC purchased a new position in Ryman Hospitality Properties during the 1st quarter valued at about $25,000. Lazard Asset Management LLC increased its holdings in Ryman Hospitality Properties by 667.4% during the 1st quarter. Lazard Asset Management LLC now owns 330 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 287 shares during the period. Quarry LP increased its holdings in Ryman Hospitality Properties by 110.8% during the 1st quarter. Quarry LP now owns 430 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 226 shares during the period. Rockefeller Capital Management L.P. increased its holdings in Ryman Hospitality Properties by 118.1% during the 4th quarter. Rockefeller Capital Management L.P. now owns 517 shares of the real estate investment trust’s stock valued at $42,000 after purchasing an additional 280 shares during the period. Finally, First Manhattan CO. LLC. purchased a new position in Ryman Hospitality Properties during the 1st quarter valued at about $71,000. Hedge funds and other institutional investors own 91.23% of the company’s stock.

Ryman Hospitality Properties Company Profile

Ryman Hospitality Properties, Inc (NYSE: RHP) is a leading lodging and hospitality real estate investment trust that specializes in upscale convention center resorts and entertainment experiences. The Company's holdings include Gaylord Opryland Resort & Convention Center; Gaylord Palms Resort & Convention Center; Gaylord Texan Resort & Convention Center; Gaylord National Resort & Convention Center; and Gaylord Rockies Resort & Convention Center, five of the top ten largest non-gaming convention center hotels in the United States based on total indoor meeting space.