Ryman Hospitality Properties, Inc. (NYSE:RHP – Get Free Report) 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 is Thursday, September 28th.
Ryman Hospitality Properties has decreased its dividend payment by an average of 54.0% per year over the last three years and has increased its dividend every year for the last 1 years. Ryman Hospitality Properties has a payout ratio of 86.8% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities 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 %
RHP opened at $84.90 on Tuesday. Ryman Hospitality Properties has a 1-year low of $71.63 and a 1-year high of $98.60. The firm has a 50-day moving average price of $88.66 and a two-hundred day moving average price of $90.34. The stock has a market capitalization of $5.07 billion, a PE ratio of 21.31, a PEG ratio of 3.51 and a beta of 1.57. The company has a current ratio of 2.12, a quick ratio of 2.12 and a debt-to-equity ratio of 6.78.
Institutional Investors Weigh In On Ryman Hospitality Properties
A number of large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in shares of Ryman Hospitality Properties by 8.5% in the first quarter. BlackRock Inc. now owns 5,908,332 shares of the real estate investment trust’s stock worth $530,155,000 after purchasing an additional 464,016 shares during the period. State Street Corp increased its stake in shares of Ryman Hospitality Properties by 4.6% in the 2nd quarter. State Street Corp now owns 2,765,963 shares of the real estate investment trust’s stock valued at $259,714,000 after purchasing an additional 121,348 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Ryman Hospitality Properties by 16.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,071,299 shares of the real estate investment trust’s stock worth $192,155,000 after buying an additional 287,880 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Ryman Hospitality Properties by 0.3% during the 1st quarter. JPMorgan Chase & Co. now owns 1,578,645 shares of the real estate investment trust’s stock worth $141,652,000 after buying an additional 4,345 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in Ryman Hospitality Properties by 3.5% during the first quarter. Geode Capital Management LLC now owns 1,150,898 shares of the real estate investment trust’s stock worth $103,270,000 after acquiring an additional 38,722 shares in the last quarter. Institutional investors and hedge funds own 91.23% of the company’s stock.
Wall Street Analysts Forecast Growth
RHP has been the subject of several research reports. JPMorgan Chase & Co. lowered their target price on Ryman Hospitality Properties from $93.00 to $88.00 and set an “underweight” rating for the company in a research note on Monday, August 7th. StockNews.com assumed coverage on Ryman Hospitality Properties in a report on Thursday, August 17th. They set a “sell” rating on the stock. Truist Financial lifted their target price on Ryman Hospitality Properties from $119.00 to $123.00 and gave the company a “buy” rating in a research report on Friday. Wells Fargo & Company raised their price target on Ryman Hospitality Properties from $96.00 to $107.00 in a research note on Wednesday, July 12th. Finally, Deutsche Bank Aktiengesellschaft upped 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 report on Monday, August 7th. Two investment analysts have rated the stock with a sell rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $109.40.
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.
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