NASHVILLE, Tenn. (AP) 鈥� NASHVILLE, Tenn. (AP) 鈥� Ryman Hospitality Properties Inc. (RHP) on Thursday reported a key measure of profitability in its first quarter. The results topped Wall Street expectations.
The Nashville, Tennessee-based real estate investment trust said it had funds from operations of $156.1 million, or $2.32 per share, in the period.
The average estimate of five analysts surveyed by Zacks Investment Research was for funds from operations of $2.03 per share.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had net income of $70.5 million, or $1.03 per share.
The hotel and resort real estate investment trust, based in Nashville, Tennessee, posted revenue of $664.6 million in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $651.3 million.
Ryman Hospitality Properties expects full-year funds from operations in the range of $8.77 to $9.14 per share.
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