Fintel reports that on October 3, 2023, Wedbush initiated coverage of Ryman Hospitality Properties (NYSE:RHP) with a Outperform recommendation.
Analyst Price Forecast Suggests 38.16% Upside
As of August 31, 2023, the average one-year price target for Ryman Hospitality Properties is 115.60. The forecasts range from a low of 101.00 to a high of $135.45. The average price target represents an increase of 38.16% from its latest reported closing price of 83.67.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Ryman Hospitality Properties is 1,935MM, a decrease of 4.34%. The projected annual non-GAAP EPS is 3.62.
Ryman Hospitality Properties Declares $1.00 Dividend
On September 18, 2023 the company declared a regular quarterly dividend of $1.00 per share ($4.00 annualized). Shareholders of record as of September 29, 2023 will receive the payment on October 16, 2023. Previously, the company paid $1.00 per share.
At the current share price of $83.67 / share, the stock's dividend yield is 4.78%.
Looking back five years and taking a sample every week, the average dividend yield has been 3.83%, the lowest has been 0.44%, and the highest has been 15.77%. The standard deviation of yields is 1.84 (n=119).
The current dividend yield is 0.52 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 1.02. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
What is the Fund Sentiment?
There are 716 funds or institutions reporting positions in Ryman Hospitality Properties. This is an increase of 27 owner(s) or 3.92% in the last quarter. Average portfolio weight of all funds dedicated to RHP is 0.39%, an increase of 10.85%. Total shares owned by institutions increased in the last three months by 7.77% to 66,534K shares. 
The put/call ratio of RHP is 1.54, indicating a bearish outlook.
What are Other Shareholders Doing?
Nuveen Asset Management holds 2,798K shares representing 4.74% ownership of the company. In it's prior filing, the firm reported owning 1,043K shares, representing an increase of 62.72%. The firm decreased its portfolio allocation in RHP by 3.89% over the last quarter.
VGSIX - Vanguard Real Estate Index Fund Investor Shares holds 2,212K shares representing 3.75% ownership of the company. In it's prior filing, the firm reported owning 2,303K shares, representing a decrease of 4.12%. The firm decreased its portfolio allocation in RHP by 0.12% over the last quarter.
Wellington Management Group Llp holds 2,089K shares representing 3.54% ownership of the company. In it's prior filing, the firm reported owning 2,383K shares, representing a decrease of 14.05%. The firm decreased its portfolio allocation in RHP by 13.35% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,751K shares representing 2.97% ownership of the company. In it's prior filing, the firm reported owning 1,618K shares, representing an increase of 7.60%. The firm increased its portfolio allocation in RHP by 3.41% over the last quarter.
Deutsche Bank Ag\ holds 1,622K shares representing 2.75% ownership of the company. In it's prior filing, the firm reported owning 1,590K shares, representing an increase of 1.96%. The firm increased its portfolio allocation in RHP by 726.19% over the last quarter.
Ryman Hospitality Properties Background Information
(This description is provided by the company.)
Ryman Hospitality Properties, Inc. (NYSE: RHP) is a leading lodging and hospitality real estate investment trust that specializes in upscale convention center resorts and country music entertainment experiences. The Company's core holdings* include a network of five of the top 10 largest non-gaming convention center hotels in the United States based on total indoor meeting space. These convention center resorts operate under the Gaylord Hotels brand and are managed by Marriott International. The Company also owns two adjacent ancillary hotels and a small number of attractions managed by Marriott International for a combined total of 10,110 rooms and more than 2.7 million square feet of total indoor and outdoor meeting space in top convention and leisure destinations across the country. The Company's Entertainment segment includes a growing collection of iconic and emerging country music brands, including the Grand Ole Opry; Ryman Auditorium, WSM 650 AM; Ole Red and Circle, a country lifestyle media network the Company owns in a joint-venture partnership with Gray Television. The Company operates its Entertainment segment as part of a taxable REIT subsidiary. *The Company is the sole owner of Gaylord Opryland Resort & Convention Center; Gaylord Palms Resort & Convention Center; Gaylord Texan Resort & Convention Center; and Gaylord National Resort & Convention Center. It is the majority owner and managing member of the joint venture that owns Gaylord Rockies Resort & Convention Center.
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