NASHVILLE, Tenn. (AP) — NASHVILLE, Tenn. (AP) — Ryman Hospitality Properties Inc. (RHP) on Wednesday reported a key measure of profitability in its first quarter. The results did not meet Wall Street expectations.
The real estate investment trust, based in Nashville, Tennessee, said it had funds from operations of $102.7 million, or $1.60 per share, in the period.
The average estimate of five analysts surveyed by Zacks Investment Research was for funds from operations of $1.75 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 $43.1 million, or 67 cents per share.
The hotel and resort real estate investment trust, based in Nashville, Tennessee, posted revenue of $528.3 million in the period, also missing Street forecasts. Five analysts surveyed by Zacks expected $531.3 million.
Ryman Hospitality Properties expects full-year funds from operations in the range of $7.69 to $8.33 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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