NASHVILLE, Tenn. (AP) — NASHVILLE, Tenn. (AP) — Ryman Hospitality Properties Inc. (RHP) on Monday reported a key measure of profitability in its third quarter. The results surpassed Wall Street expectations.
The Nashville, Tennessee-based real estate investment trust said it had funds from operations of $106.4 million, or $1.63 per share, in the period.
The average estimate of six analysts surveyed by Zacks Investment Research was for funds from operations of $1.59 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 $34.9 million, or 53 cents per share.
The hotel and resort real estate investment trust, based in Nashville, Tennessee, posted revenue of $592.5 million in the period, also topping Street forecasts. Five analysts surveyed by Zacks expected $585.7 million.
Ryman Hospitality Properties expects full-year funds from operations in the range of $8 to $8.38 per share.
