NYSE:RHP

Stock Analysis Report

Ryman Hospitality Properties

Executive Summary

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.


Snowflake Analysis

Good value with proven track record and pays a dividend.


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 has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-8.2%

RHP

-0.07%

US REITs

-1.1%

US Market


1 Year Return

-0.5%

RHP

16.6%

US REITs

17.8%

US Market

Return vs Industry: RHP underperformed the US REITs industry which returned 16.6% over the past year.

Return vs Market: RHP underperformed the US Market which returned 17.8% over the past year.


Shareholder returns

RHPIndustryMarket
7 Day-8.2%-0.07%-1.1%
30 Day-2.8%3.6%1.5%
90 Day-6.9%6.9%6.6%
1 Year4.0%-0.5%21.3%16.6%20.2%17.8%
3 Year42.5%24.1%37.4%20.2%47.5%38.1%
5 Year76.4%37.9%59.8%26.8%71.2%52.4%

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?

45.4%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: RHP ($89) is trading below our estimate of fair value ($155.16)

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 (17.6x) compared to the REITs industry average (37.2x).

PE vs Market: RHP is good value based on its PE Ratio (17.6x) compared to the US market (18.2x).


Price to Earnings Growth Ratio

PEG Ratio: RHP is poor value based on its PEG Ratio (2.1x)


Price to Book Ratio

PB vs Industry: RHP is overvalued based on its PB Ratio (14.5x) compared to the US REITs industry average (2.1x).


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?

8.3%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: RHP's forecast earnings growth (8.3% per year) is above the savings rate (1.7%).

Earnings vs Market: RHP's earnings (8.3% per year) are forecast to grow slower than the US market (14.1% per year).

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

Revenue vs Market: RHP's revenue (5.4% per year) is forecast to grow slower than the US market (7.6% per year).

High Growth Revenue: RHP's revenue (5.4% 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 (74.5%).


Next Steps

Past Performance

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

19.0%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: RHP has a large one-off gain of $108.9M impacting its September 30 2019 financial results.

Growing Profit Margin: RHP's current net profit margins (17.2%) are higher than last year (14.2%).


Past Earnings Growth Analysis

Earnings Trend: RHP's earnings have grown by 19% per year over the past 5 years.

Accelerating Growth: RHP's earnings growth over the past year (46.4%) exceeds its 5-year average (19% per year).

Earnings vs Industry: RHP earnings growth over the past year (46.4%) exceeded the REITs industry 7.6%.


Return on Equity

High ROE: Whilst RHP's Return on Equity (42.15%) is outstanding, this metric is skewed due to their high level of debt.


Return on Assets


Return on Capital Employed


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 0.2x 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?

4.29%

Current Dividend Yield


Dividend Yield vs Market

company4.3%marketbottom25%1.4%markettop25%3.7%industryaverage3.5%forecastin3Years4.5%

Current dividend yield vs market & industry

Notable Dividend: RHP's dividend (4.04%) is higher than the bottom 25% of dividend payers in the US market (1.45%).

High Dividend: RHP's dividend (4.04%) is in the top 25% of dividend payers in the US market (3.73%)


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 (55.1%), 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 (0.9% payout ratio).


Next Steps

Management

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

7.1yrs

Average management tenure


CEO

Colin Reed (71yo)

18.8yrs

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 ($USD4.99M) is about average for companies of similar size in the US market ($USD6.37M).

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


Leadership Team

NamePositionTenureCompensationOwnership
Colin Reed
Chairman & CEO18.8yrsUS$4.99m1.33% $60.4m
Mark Fioravanti
President & CFO4.9yrsUS$2.04m0.33% $15.0m
Scott Lynn
Executive VP7.1yrsUS$1.05m0.018% $809.4k
Bennett Westbrook
Executive VP & Chief Development Officer3.7yrsUS$1.23m0.038% $1.7m
Jennifer Hutcheson
Senior VP0yrsno data0.015% $676.9k
Todd Siefert
Vice President0yrsno datano data
Brian Abrahamson
Senior Vice President of Corporate Communications0yrsno datano data
Johann Krieger
Senior VP and GM of Gaylord Palms Resort & Convention Center10.1yrsno datano data
Raymond Keeler
Director of Strategic Planning & IR0yrsno datano data
Stephen Buchanan
Executive VP & President of Opry Entertainment Group0yrsno datano data

7.1yrs

Average Tenure

48.5yo

Average Age

Experienced Management: RHP's management team is seasoned and experienced (7.1 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Colin Reed
Chairman & CEO18.8yrsUS$4.99m1.33% $60.4m
Robert Prather
Independent Director10.8yrsUS$176.24k0.0073% $331.9k
Michael Roth
Lead Independent Director0yrsUS$211.24k0.069% $3.1m
Alvin Bowles
Independent Director2.8yrsUS$167.49kno data
Christine Pantoya
Independent Director1yrsno data0.00037% $16.8k
Fazal Merchant
Independent Director2.3yrsUS$167.49k0.0035% $160.2k
Patrick Moore
Independent Director4.8yrsUS$186.24kno data
Rachna Bhasin
Independent Director3.9yrsUS$167.49k0.0078% $354.2k

3.9yrs

Average Tenure

49yo

Average Age

Experienced Board: RHP's board of directors are considered experienced (3.9 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$4.552b
  • 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 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. The Company is a joint venture owner of the 1,501-room Gaylord Rockies Resort & Convention Center, which is also managed by Marriott International, Inc. under the Gaylord Hotels brand. Other owned assets managed by Marriott International, Inc. include Gaylord Springs Golf Links, the Wildhorse Saloon, the General Jackson Showboat, The Inn at Opryland, a 303-room overflow hotel adjacent to Gaylord Opryland and AC Hotel Washington, DC at National Harbor, a 192-room hotel near Gaylord National. The Company also owns and operates media and entertainment assets, including the Grand Ole Opry (opry.com), the legendary weekly showcase of country music’s finest performers for over 90 years; the Ryman Auditorium, the storied former home of the Grand Ole Opry located in downtown Nashville; 650 AM WSM, the Opry’s radio home; and Ole Red, a country lifestyle and entertainment brand. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/24 23:59
End of Day Share Price2020/02/24 00:00
Earnings2019/09/30
Annual Earnings2018/12/31


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.