Ryman Hospitality Properties: 3Q Earnings Snapshot
NASHVILLE, Tenn. (AP) _ Ryman Hospitality Properties Inc. (RHP) on Tuesday reported a key measure of profitability in its third quarter. The results exceeded Wall Street expectations.
The Nashville, Tennessee-based real estate investment trust said it had funds from operations of $63.5 million, or $1.23 per share, in the period.
The average estimate of four analysts surveyed by Zacks Investment Research was for funds from operations of $1.14 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 $22.6 million, or 44 cents per share.
The hotel and resort real estate investment trust, based in Nashville, Tennessee, posted revenue of $292.2 million in the period, also topping Street forecasts. Five analysts surveyed by Zacks expected $277.9 million.
The company’s shares have risen 10 percent since the beginning of the year. The stock has climbed 16 percent in the last 12 months.