Ryman Hospitality Properties Inc. announced its 2017 fourth-quarter and full-year earnings, outlined its expectations for 2018 and increased its quarterly dividend.
The hotel real estate investment trust disclosed 2017 fourth-quarter funds from operations of $100.4 million, or $1.95 per share, a 32.1% rise in the aggregate from $76.0 million, or $1.48 per share, in the 2016 fourth quarter.
For the quarter, adjusted FFO rose 11.9% from the year-ago period to $87.0 million, or $1.69 per share, from $77.7 million, or $1.51 per share.
The company disclosed a 7.0% year-over-year increase in FFO for the full year 2017. In the aggregate, results totaled $288.1 million, or $5.61 per share, compared with $269.2 million, or $5.25 per share. AFFO for the year was $285.5 million, or $5.56 per share, compared to $281.5 million, or $5.49 per share, in the year-ago period.
The S&P Capital IQ consensus FFO estimate for the quarter was $1.62 per share. For the full year 2017, the S&P Capital IQ consensus estimate for FFO was $5.48 per share.
Ryman Hospitality expects FFO per share in the range of $5.33 to $5.39 for the 2018 full year.
The company also increased its quarterly cash dividend to 85 cents per share from 80 cents per share, payable April 16 to stockholders of record as of March 30.