NASHVILLE, Tenn. – NASHVILLE, Tenn. (AP) _ Ryman Hospitality Properties Inc. (RHP) on Tuesday reported a key measure of profitability in its first quarter. The results fell short of Wall Street expectations.
The Nashville, Tennessee-based real estate investment trust said it had funds from operations of $60.9 million, or $1.18 per share, in the period.
The average estimate of five analysts surveyed by Zacks Investment Research was for funds from operations of $1.19 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 $27.3 million, or 53 cents per share.
The hotel and resort real estate investment trust, based in Nashville, Tennessee, posted revenue of $288.4 million in the period, surpassing Street forecasts. Five analysts surveyed by Zacks expected $284.1 million.
The company's shares have risen 14 percent since the beginning of the year. The stock has risen 23 percent in the last 12 months.
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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
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