NASHVILLE, Tenn. (AP) _ Ryman Hospitality Properties Inc. (RHP) on Tuesday reported a key measure of profitability in its third quarter. The results missed Wall Street expectations.
The Nashville, Tennessee-based real estate investment trust said it had funds from operations of $56 million, or $1.09 per share, in the period.
The average estimate of six analysts surveyed by Zacks Investment Research was for funds from operations of $1.15 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 $23.9 million, or 46 cents per share.
The hotel and resort real estate investment trust, based in Nashville, Tennessee, posted revenue of $264.7 million in the period, which also missed Street forecasts. Five analysts surveyed by Zacks expected $265.7 million.
Ryman Hospitality Properties expects full-year funds from operations to be $5.17 to $5.29 per share.
The company's shares have climbed almost 5 percent since the beginning of the year. The stock has risen 28 percent in the last 12 months.