NASHVILLE, Tenn. – NASHVILLE, Tenn. (AP) _ Ryman Hospitality Properties Inc. (RHP) on Tuesday reported a key measure of profitability in its second quarter. The results beat Wall Street expectations.
The Nashville, Tennessee-based real estate investment trust said it had funds from operations of $92.8 million, or $1.80 per share, in the period.
The average estimate of four analysts surveyed by Zacks Investment Research was for funds from operations of $1.76 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 $55.5 million, or $1.08 per share.
The hotel and resort real estate investment trust, based in Nashville, Tennessee, posted revenue of $333.9 million in the period, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $328.7 million.
Ryman Hospitality Properties expects full-year funds from operations in the range of $5.34 to $5.40 per share.
The company's shares have risen 21 percent since the beginning of the year. The stock has climbed 34 percent in the last 12 months.
This story was generated by Automated Insights using data from Zacks Investment Research. Access a Zacks stock report on RHP at https://www.zacks.com/ap/RHP