NASHVILLE, Tenn. (AP) _ Ryman Hospitality Properties Inc. (RHP) on Tuesday reported a key measure of profitability in its fourth quarter. The results exceeded Wall Street expectations.
The Nashville, Tennessee-based real estate investment trust said it had funds from operations of $96.6 million, or $1.84 per share, in the period.
The average estimate of four analysts surveyed by Zacks Investment Research was for funds from operations of $1.81 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 $44.7 million, or 85 cents per share.
The hotel and resort real estate investment trust, based in Nashville, Tennessee, posted revenue of $446.3 million in the period, which also topped Street forecasts. Four analysts surveyed by Zacks expected $433.7 million.
For the year, the company reported funds from operations of $356.6 million. Revenue was reported as $1.6 billion.
The company's shares have decreased slightly more than 3% since the beginning of the year. The stock has dropped 3.5% in the last 12 months.