Ryman Hospitality Properties, Inc. (NYSE:RHP) Declares $1.20 Quarterly Dividend

Key Points

• $1.20 quarterly dividend announced, payable July 15 to shareholders of record on June 30 (ex-dividend date June 30), representing a $4.80 annualized payout and a ~4.3% yield.
• The dividend is currently not covered by earnings (reported 101.1% payout ratio), though analysts forecast $9.57 EPS next year which would lower the payout to about ~50% and make the dividend more sustainable.
• Analyst sentiment is positive with a consensus "Moderate Buy" and a $115.78 target; the stock recently traded near $110.85, with a market cap of ~$7.0B and a PE of ~29.3.

Ryman Hospitality Properties, Inc. (NYSE:RHP - Get Free Report) announced a quarterly dividend on Thursday, May 7th. Investors of record on Tuesday, June 30th will be paid a dividend of 1.20 per share by the real estate investment trust on Wednesday, July 15th. This represents a c) annualized dividend and a dividend yield of 4.3%. The ex-dividend date of this dividend is Tuesday, June 30th.

Ryman Hospitality Properties has raised its dividend by an average of 0.4%per year over the last three years and has raised its dividend every year for the last 2 years. Ryman Hospitality Properties has a dividend payout ratio of 101.1% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Ryman Hospitality Properties to earn $9.57 per share next year, which means the company should continue to be able to cover its $4.80 annual dividend with an expected future payout ratio of 50.2%.

Ryman Hospitality Properties Price Performance

Shares of NYSE RHP opened at $110.85 on Friday. The company has a debt-to-equity ratio of 5.15, a current ratio of 1.35 and a quick ratio of 1.46. The stock has a fifty day moving average price of $97.71 and a 200 day moving average price of $95.87. Ryman Hospitality Properties has a 1-year low of $83.82 and a 1-year high of $112.50. The company has a market cap of $7.00 billion, a PE ratio of 29.25, a P/E/G ratio of 2.21 and a beta of 1.22.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Barclays increased their price target on Ryman Hospitality Properties from $109.00 to $110.00 and gave the stock an "overweight" rating in a report on Tuesday, April 7th. Weiss Ratings downgraded Ryman Hospitality Properties from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $131.00 price target on shares of Ryman Hospitality Properties in a report on Tuesday, January 13th. Morgan Stanley raised Ryman Hospitality Properties from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $88.00 to $105.00 in a report on Friday, April 10th. Finally, JPMorgan Chase & Co. raised their target price on Ryman Hospitality Properties from $111.00 to $113.00 and gave the company an "overweight" rating in a report on Tuesday. Nine analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $115.78.

Ryman Hospitality Properties Company Profile

Ryman Hospitality Properties, Inc is a publicly traded real estate investment trust (REIT) specializing in the ownership and operation of group‐oriented, large convention center hotel resorts. The company's portfolio is anchored by its Gaylord Hotels brand, offering integrated resort, convention, entertainment and dining experiences under long‐term management agreements with Marriott International.

Ryman's flagship properties include Gaylord Opryland Resort & Convention Center in Nashville, Gaylord Texan Resort & Convention Center near Dallas/Fort Worth and Gaylord Palms Resort & Convention Center in Orlando, Florida.

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