NASHVILLE, Tenn. (AP) 鈥� NASHVILLE, Tenn. (AP) 鈥� Ryman Hospitality Properties Inc. (RHP) on Thursday reported a key measure of profitability in its second quarter. The results surpassed Wall Street expectations.
The real estate investment trust, based in Nashville, Tennessee, said it had funds from operations of $181.4 million, or $2.77 per share, in the period.
The average estimate of five analysts surveyed by Zacks Investment Research was for funds from operations of $2.56 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 $92.8 million, or $1.42 per share.
The hotel and resort real estate investment trust, based in Nashville, Tennessee, posted revenue of $749 million in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $730.3 million.
Ryman Hospitality Properties expects full-year funds from operations in the range of $8.98 to $9.28 per share.
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