NASHVILLE—Colin V. Reed, Executive Chairman of the Board at Ryman Hospitality Properties , Inc. (NYSE:RHP), made a significant purchase of the company's common stock. According to a recent SEC filing, Reed acquired 6,809 shares at a price of $111.59 per share, amounting to a total transaction value of $759,816. This purchase represents the reinvestment of previously accrued cash dividends in Reed's (OTC:REED) Supplemental Executive Retirement Plan (SERP) account. Following this transaction, Reed holds a total of 834,029 shares directly, with additional shares held indirectly through various trusts and LLCs.
In other recent news, Ryman Hospitality Properties reported a record consolidated total revenue of $550 million in the third quarter of 2024, a 4.1% increase year-over-year. Adjusted EBITDAre rose to $175 million, up 2.3% from the previous year. These are significant developments in the company's financial performance, attributed to strong performance in both the hospitality and entertainment segments. Ryman Hospitality also revised its 2024 guidance, raising the midpoint for its consolidated adjusted EBITDAre to $770.5 million. The company is making capital investments over $1 billion, including projects at Gaylord Rockies and Gaylord Opryland. A new venue, Category 10, opened in Nashville and is set to fully launch in early 2025. The company declared a quarterly dividend of $1.15, a 4.5% increase from the previous distribution. Despite facing challenges such as market softness and the impact of Hurricane Milton, Ryman Hospitality remains optimistic about ongoing performance and future growth opportunities.
InvestingPro Insights
Colin V. Reed's substantial investment in Ryman Hospitality Properties aligns with several positive indicators highlighted by InvestingPro. The company's stock has shown strong performance, with a 17.6% total return over the past three months and a 26.56% return over the past year. This upward trajectory supports Reed's decision to reinvest his dividends into company shares.
InvestingPro Tips reveal that Ryman Hospitality Properties has raised its dividend for three consecutive years, demonstrating a commitment to shareholder returns. The current dividend yield stands at an attractive 4.02%, which may have influenced Reed's reinvestment strategy. Additionally, the company is trading at a low P/E ratio relative to its near-term earnings growth, with a PEG ratio of 0.39, suggesting potential undervaluation.
The company's financial health appears robust, with liquid assets exceeding short-term obligations. This solid financial footing is further evidenced by Ryman's profitability over the last twelve months, with a gross profit of $848.74 million and an EBITDA of $734.32 million for the same period.
For investors seeking more comprehensive analysis, InvestingPro offers 7 additional tips for Ryman Hospitality Properties, providing deeper insights into the company's financial outlook and market position.
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