NASHVILLE, Tenn. (AP) _ Ryman Hospitality Properties Inc. (RHP) on Monday reported a loss in a key measure in its first quarter. The results did not meet Wall Street expectations.
The real estate investment trust, based in Nashville, Tennessee, said it had a funds from operations loss of $50.5 million, or 91 cents per share, in the period.
The average estimate of five analysts surveyed by Zacks Investment Research was for a funds from operations loss of 74 cents 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 a loss of $104.5 million, or $1.90 per share.
The hotel and resort real estate investment trust, based in Nashville, Tennessee, posted revenue of $84.2 million in the period, which also did not meet Street forecasts. Four analysts surveyed by Zacks expected $111.2 million.
The company’s shares have risen 20% since the beginning of the year. In the final minutes of trading on Monday, shares hit $81.37, more than doubling 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
∎