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NASHVILLE, Tenn. (AP) — NASHVILLE, Tenn. (AP) — Ryman Hospitality Properties Inc. (RHP) on Wednesday reported a key measure of profitability in its first quarter. The results beat Wall Street expectations.
The real estate investment trust, based in Nashville, Tennessee, said it had funds from operations of $113.6 million, or $1.89 per share, in the period.
The average estimate of five analysts surveyed by Zacks Investment Research was for funds from operations of $1.37 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 $61.3 million, or $1.02 per share.
The hotel and resort real estate investment trust, based in Nashville, Tennessee, posted revenue of $491.7 million in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $436 million.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a RHP">Zacks stock report on RHP at https://www.zacks.com/ap/RHP