Ryman Hospitality Properties: 2Q Earnings Snapshot
NASHVILLE, Tenn. (AP) _ Ryman Hospitality Properties Inc. (RHP) on Tuesday reported a key measure of profitability in its second quarter. The results exceeded Wall Street expectations.
The real estate investment trust, based in Nashville, Tennessee, said it had funds from operations of $104.3 million, or $2.01 per share, in the period.
The average estimate of six analysts surveyed by Zacks Investment Research was for funds from operations of $1.88 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 $49.4 million, or 95 cents per share.
The hotel and resort real estate investment trust, based in Nashville, Tennessee, posted revenue of $407.7 million in the period, also topping Street forecasts. Five analysts surveyed by Zacks expected $401.6 million.
The company’s shares have climbed 8% since the beginning of the year. The stock has declined 13% in the last 12 months.