NYSE:RHP

Stock Analysis Report

Ryman Hospitality Properties

Executive Summary

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.


Snowflake Analysis

Good value average dividend payer.


Similar Companies

Share Price & News

How has Ryman Hospitality Properties's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: RHP's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

9.7%

RHP

15.8%

US REITs

7.2%

US Market


1 Year Return

-56.9%

RHP

-20.1%

US REITs

-10.4%

US Market

Return vs Industry: RHP underperformed the US REITs industry which returned -20.1% over the past year.

Return vs Market: RHP underperformed the US Market which returned -10.4% over the past year.


Shareholder returns

RHPIndustryMarket
7 Day9.7%15.8%7.2%
30 Day-48.4%-19.2%-12.6%
90 Day-58.6%-24.6%-19.4%
1 Year-54.3%-56.9%-16.8%-20.1%-8.5%-10.4%
3 Year-31.3%-41.0%-0.7%-13.1%15.8%8.3%
5 Year-24.0%-41.6%13.3%-10.2%35.8%21.0%

Price Volatility Vs. Market

How volatile is Ryman Hospitality Properties's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Ryman Hospitality Properties undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: RHP ($35.88) is trading below our estimate of fair value ($130.99)

Significantly Below Fair Value: RHP is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: RHP is good value based on its PE Ratio (12.7x) compared to the REITs industry average (24.3x).

PE vs Market: RHP is good value based on its PE Ratio (12.7x) compared to the US market (13.1x).


Price to Earnings Growth Ratio

PEG Ratio: RHP is poor value based on its PEG Ratio (1.8x)


Price to Book Ratio

PB vs Industry: RHP is overvalued based on its PB Ratio (3x) compared to the US REITs industry average (1.3x).


Next Steps

Future Growth

How is Ryman Hospitality Properties forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?

7.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: RHP's forecast earnings growth (7.1% per year) is above the savings rate (1.7%).

Earnings vs Market: RHP's earnings (7.1% per year) are forecast to grow slower than the US market (12.2% per year).

High Growth Earnings: RHP's earnings are forecast to grow, but not significantly.

Revenue vs Market: RHP's revenue (4.2% per year) is forecast to grow slower than the US market (7.2% per year).

High Growth Revenue: RHP's revenue (4.2% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: RHP's Return on Equity is forecast to be very high in 3 years time (57.5%).


Next Steps

Past Performance

How has Ryman Hospitality Properties performed over the past 5 years?

15.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: RHP has high quality earnings.

Growing Profit Margin: RHP's current net profit margins (9.1%) are lower than last year (20.9%).


Past Earnings Growth Analysis

Earnings Trend: RHP's earnings have grown by 15.4% per year over the past 5 years.

Accelerating Growth: RHP's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: RHP had negative earnings growth (-44.9%) over the past year, making it difficult to compare to the REITs industry average (5%).


Return on Equity

High ROE: RHP's Return on Equity (14.8%) is considered low.


Next Steps

Financial Health

How is Ryman Hospitality Properties's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: RHP has a high level of physical assets or inventory.

Debt Coverage by Assets: RHP's debt is not covered by short term assets (assets are 0.3x debt).


Financial Institutions Analysis

Asset Level: RHP's level of assets compared to its equity is low.

Allowance for Bad Loans: Insufficient data to determine if RHP has a sufficient allowance for bad loans.

Low Risk Liabilities: RHP reports no customer deposits, loans are made up entirely of externally borrowed funds.

Loan Level: Insufficient data to determine if RHP has an acceptable proportion of non-loan assets held.

Low Risk Deposits: RHP has advanced significantly more loans than the customer deposits it holds.

Level of Bad Loans: Insufficient data to determine if RHP has an appropriate level of bad loans.


Next Steps

Dividend

What is Ryman Hospitality Properties's current dividend yield, its reliability and sustainability?

10.59%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: RHP's dividend (10.59%) is higher than the bottom 25% of dividend payers in the US market (1.95%).

High Dividend: RHP's dividend (10.59%) is in the top 25% of dividend payers in the US market (5.4%)


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, RHP has been paying a dividend for less than 10 years.

Growing Dividend: RHP's dividend payments have increased, but the company has only paid a dividend for 7 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (51.7%), RHP's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: RHP's dividends in 3 years are forecast to be thoroughly covered by earnings (0.8% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

5.0yrs

Average management tenure


CEO

Colin Reed (71yo)

18.83s

Tenure

US$4,992,700

Compensation

Mr. Colin V. Reed serves as the President at RHP Property GT, LLC. Mr. Reed has been the Chief Executive Officer of Ryman Hospitality Properties, Inc. since April 2001. Mr. Reed serves as the Chief Executi ...


CEO Compensation Analysis

Compensation vs Market: Colin's total compensation ($USD4.99M) is about average for companies of similar size in the US market ($USD4.58M).

Compensation vs Earnings: Colin's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Colin Reed
Chairman & CEO18.83yrsUS$4.99m1.44% $28.0m
Mark Fioravanti
President & CFO5yrsUS$2.04m0.37% $7.3m
Patrick Chaffin
Executive VP & COO0.83yrUS$1.05m0.035% $673.1k
Scott Lynn
Executive VP7.17yrsUS$1.05m0.027% $525.3k
Bennett Westbrook
Executive VP & Chief Development Officer3.67yrsUS$1.23m0.054% $1.1m
Jennifer Hutcheson
Senior VP1.83yrsno data0.019% $365.6k
Todd Siefert
Vice Presidentno datano datano data
Brian Abrahamson
Senior Vice President of Corporate Communicationsno datano datano data
Johann Krieger
Senior VP and GM of Gaylord Palms Resort & Convention Center10.17yrsno datano data
Raymond Keeler
Director of Strategic Planning & IRno datano datano data

5.0yrs

Average Tenure

45yo

Average Age

Experienced Management: RHP's management team is seasoned and experienced (5 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Colin Reed
Chairman & CEO18.83yrsUS$4.99m1.44% $28.0m
Robert Prather
Independent Director10.83yrsUS$176.24k0.0073% $142.2k
Michael Roth
Lead Independent Directorno dataUS$211.24k0.069% $1.3m
Alvin Bowles
Independent Director2.83yrsUS$167.49kno data
Christine Pantoya
Independent Director1yrno data0.00037% $7.2k
Fazal Merchant
Independent Director2.25yrsUS$167.49k0.0035% $68.6k
Patrick Moore
Independent Director4.83yrsUS$186.24kno data
Rachna Bhasin
Independent Director4yrsUS$167.49k0.0078% $151.5k

4.0yrs

Average Tenure

49yo

Average Age

Experienced Board: RHP's board of directors are considered experienced (4 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: RHP insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Ryman Hospitality Properties, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Ryman Hospitality Properties, Inc.
  • Ticker: RHP
  • Exchange: NYSE
  • Founded: 1955
  • Industry: Hotel and Resort REITs
  • Sector: Real Estate
  • Market Cap: US$1.948b
  • Shares outstanding: 54.28m
  • Website: https://www.rymanhp.com

Number of Employees


Location

  • Ryman Hospitality Properties, Inc.
  • One Gaylord Drive
  • Nashville
  • Tennessee
  • 37214
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
RHPNYSE (New York Stock Exchange)YesCommon StockUSUSDOct 1997
4RHDB (Deutsche Boerse AG)YesCommon StockDEEUROct 1997

Biography

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. In December 2019, the Company announced plans to acquire Block 21 a mixed-use entertainment, lodging, office and retail complex that includes the 251-room W Hotel Austin, 53,000 square feet of Class A commercial space and the 2,750-seat ACL Live at the Moody Theater, in Austin, Texas. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/03/31 01:17
End of Day Share Price2020/03/30 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.