Ryman Hospitality Properties Inc (NYSE:RHP) Declares Quarterly Dividend of $0.90
Ryman Hospitality Properties Inc (NYSE:RHP) announced a quarterly dividend on Monday, September 16th, Zacks reports. Investors of record on Monday, September 30th will be given a dividend of 0.90 per share by the real estate investment trust on Tuesday, October 15th. This represents a $3.60 annualized dividend and a dividend yield of 4.40%. The ex-dividend date of this dividend is Friday, September 27th.
Ryman Hospitality Properties has raised its dividend payment by an average of 9.5% annually over the last three years and has raised its dividend every year for the last 5 years. Ryman Hospitality Properties has a payout ratio of 61.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Ryman Hospitality Properties to earn $7.25 per share next year, which means the company should continue to be able to cover its $3.60 annual dividend with an expected future payout ratio of 49.7%.
Shares of Ryman Hospitality Properties stock traded up $0.13 during trading on Wednesday, hitting $81.73. 2,245 shares of the company’s stock traded hands, compared to its average volume of 257,294. The company has a debt-to-equity ratio of 5.97, a current ratio of 1.29 and a quick ratio of 1.29. Ryman Hospitality Properties has a 1 year low of $64.36 and a 1 year high of $89.50. The stock has a market capitalization of $4.20 billion, a P/E ratio of 13.96, a PEG ratio of 1.91 and a beta of 1.14. The business has a 50-day simple moving average of $79.37 and a 200-day simple moving average of $80.77.
In other news, CEO Colin V. Reed bought 13,585 shares of the company’s stock in a transaction on Friday, August 9th. The shares were acquired at an average cost of $79.30 per share, with a total value of $1,077,290.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 3.30% of the company’s stock.
Several research firms recently commented on RHP. ValuEngine cut Ryman Hospitality Properties from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. SunTrust Banks dropped their price objective on Ryman Hospitality Properties from $81.00 to $78.00 and set a “hold” rating on the stock in a research report on Friday, August 9th. Deutsche Bank reaffirmed a “buy” rating and set a $99.00 price objective on shares of Ryman Hospitality Properties in a research report on Thursday, August 8th. Zacks Investment Research cut Ryman Hospitality Properties from a “buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Finally, JPMorgan Chase & Co. dropped their target price on Ryman Hospitality Properties from $77.00 to $76.00 and set an “underweight” rating on the stock in a research report on Friday, September 6th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $87.60.
About Ryman Hospitality Properties
Ryman Hospitality Properties, Inc (NYSE:RHP) is a REIT for federal income tax purposes, specializing in group-oriented, destination hotel assets in urban and resort markets. The Company's owned assets include a network of four upscale, meetings-focused resorts totaling 8,114 rooms that are managed by lodging operator Marriott International, Inc under the Gaylord Hotels brand.
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