Ryman Hospitality Properties, Inc. (NYSE:RHP) Announces Dividend Increase – $1.15 Per Share

Ryman Hospitality Properties, Inc. (NYSE:RHP) declared a quarterly dividend on Monday, November 4th, Zacks reports. Shareholders of record on Tuesday, December 31st will be given a dividend of 1.15 per share by the real estate investment trust on Wednesday, January 15th. This represents a $4.60 annualized dividend and a yield of 4.02%. The ex-dividend date of this dividend is Tuesday, December 31st. This is a boost from Ryman Hospitality Properties’s previous quarterly dividend of $1.10.

Ryman Hospitality Properties has a payout ratio of 89.1% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Research analysts expect Ryman Hospitality Properties to earn $8.85 per share next year, which means the company should continue to be able to cover its $4.40 annual dividend with an expected future payout ratio of 49.7%.

Ryman Hospitality Properties Stock Performance

Shares of Ryman Hospitality Properties stock traded up $6.01 during trading on Wednesday, reaching $114.31. The company’s stock had a trading volume of 283,707 shares, compared to its average volume of 452,530. Ryman Hospitality Properties has a 52 week low of $88.14 and a 52 week high of $122.91. The firm has a market cap of $6.85 billion, a PE ratio of 20.33, a P/E/G ratio of 2.05 and a beta of 1.65. The business’s 50-day moving average price is $106.88 and its 200-day moving average price is $103.82. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 5.96.

Ryman Hospitality Properties (NYSE:RHP) last announced its earnings results on Monday, November 4th. The real estate investment trust reported $0.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.83 by ($0.89). Ryman Hospitality Properties had a return on equity of 60.97% and a net margin of 14.21%. The business had revenue of $549.90 million for the quarter, compared to analyst estimates of $545.93 million. During the same quarter in the previous year, the company earned $1.73 EPS. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. Equities analysts forecast that Ryman Hospitality Properties will post 8.38 earnings per share for the current year.

Insider Buying and Selling

In other Ryman Hospitality Properties news, Director Alvin L. Bowles, Jr. sold 900 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $107.32, for a total value of $96,588.00. Following the sale, the director now owns 3,148 shares in the company, valued at $337,843.36. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 3.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on RHP shares. Wells Fargo & Company cut their target price on Ryman Hospitality Properties from $127.00 to $115.00 and set an “overweight” rating for the company in a research report on Friday, September 13th. StockNews.com raised shares of Ryman Hospitality Properties from a “sell” rating to a “hold” rating in a research report on Friday, August 9th. Jefferies Financial Group started coverage on shares of Ryman Hospitality Properties in a report on Wednesday. They issued a “buy” rating and a $130.00 target price on the stock. Finally, JPMorgan Chase & Co. increased their price target on shares of Ryman Hospitality Properties from $104.00 to $105.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Ryman Hospitality Properties currently has a consensus rating of “Moderate Buy” and an average price target of $125.17.

About Ryman Hospitality Properties

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 seven largest non-gaming convention center hotels in the United States based on total indoor meeting space.