NASHVILLE, Tenn. (AP) — NASHVILLE, Tenn. (AP) — Ryman Hospitality Properties Inc. (RHP) on Monday reported a key measure of profitability in its second quarter. The results exceeded Wall Street expectations.
The Nashville, Tennessee-based real estate investment trust said it had funds from operations of $155.3 million, or $2.35 per share, in the period.
The average estimate of six analysts surveyed by Zacks Investment Research was for funds from operations of $2.31 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 $71.8 million, or $1.12 per share.
The hotel and resort real estate investment trust, based in Nashville, Tennessee, posted revenue of $659.5 million in the period, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $614.1 million.
Ryman Hospitality Properties expects full-year funds from operations in the range of $7.93 to $8.49 per share.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on RHP at https://www.zacks.com/ap/RHP
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