Ryman Hospitality Properties: 2Q Earnings Snapshot
Aug. 07, 2018
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.