BATON ROUGE, La. (AP) _ Lamar Advertising Co. (LAMR) on Thursday reported a key measure of profitability in its fourth quarter.
The real estate investment trust, based in Baton Rouge, Louisiana, said it had funds from operations of $165.4 million, or $1.64 per share, in the period.
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 $102.7 million, or $1.02 per share.
The outdoor and transit advertising company, based in Baton Rouge, Louisiana, posted revenue of $462.7 million in the period.
For the year, the company reported funds from operations of $581.4 million. Revenue was reported as $1.75 billion.sonos sonos One (Gen 2) - Voice Controlled Smart Speaker with Amazon Alexa Built-in - Black read more
Lamar expects full-year funds from operations in the range of $6.05 to $6.20 per share.
The company's shares have climbed roughly 7% since the beginning of the year. The stock has climbed 22% 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 LAMR at https://www.zacks.com/ap/LAMR
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