NASHVILLE, Tenn. (AP) — NASHVILLE, Tenn. (AP) — Ryman Hospitality Properties Inc. (RHP) on Monday reported a key measure of profitability in its third quarter. The results beat Wall Street expectations.
The Nashville, Tennessee-based real estate investment trust said it had funds from operations of $111.3 million, or $1.73 per share, in the period.
The average estimate of five analysts surveyed by Zacks Investment Research was for funds from operations of $1.58 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 $41.2 million, or 64 cents per share.
The hotel and resort real estate investment trust, based in Nashville, Tennessee, posted revenue of $528.5 million in the period, missing Street forecasts. Five analysts surveyed by Zacks expected $531.4 million.
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