NASHVILLE, Tenn. (AP) _ Ryman Hospitality Properties Inc. (RHP) on Tuesday reported a key measure of profitability in its first quarter. The results topped Wall Street expectations.
The real estate investment trust, based in Nashville, Tennessee, said it had funds from operations of $62.4 million, or $1.50 per share, in the period.
The average estimate of five analysts surveyed by Zacks Investment Research was for funds from operations of $1.42 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 $29.4 million, or 57 cents per share.
The hotel and resort real estate investment trust, based in Nashville, Tennessee, posted revenue of $370.8 million in the period, which also topped Street forecasts. Five analysts surveyed by Zacks expected $365.3 million.
The company's shares have risen 22% since the beginning of the year. The stock has increased nearly 3% in the last 12 months.
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