RHP - Ryman Hospitality: 3.9% Dividend Yield But I'd Wait For Shares To Dip
2024-02-05 16:39:59 ET
Summary
- Ryman Hospitality offers a decent 3.87% dividend yield and recently hiked its quarterly distribution by 10%.
- The REIT owns high-quality country music entertainment venues and upscale convention center resorts.
- RevPAR is set to grow by almost $20 year-over-year during its upcoming fiscal 2023 fourth quarter with AFFO for the quarter set to cover the raised dividend by 188%.
You're buying Ryman Hospitality ( RHP ) for three reasons. The first is for the dividend with the lodging and hospitality REIT last declaring a quarterly cash dividend of $1.10 per share , a significant 10% increase from its prior distribution and $4.40 annualized for a 3.87% forward dividend yield. The second is the REIT's incredibly niche and high-quality property portfolio of country music entertainment venues and upscale convention center resorts. This includes the Gaylord Hotels which account for five of the top ten non-gaming hotels in the US by indoor meeting space. RHP's hotel portfolio is huge, it's 11,414 rooms managed by Marriott International and is spread across 3 million square feet of both indoor and outdoor meeting space....
Ryman Hospitality: 3.9% Dividend Yield But I'd Wait For Shares To Dip