BATON ROUGE, La. (AP) — BATON ROUGE, La. (AP) — Lamar Advertising Co. (LAMR) on Friday reported a key measure of profitability in its fourth quarter.
The Baton Rouge, Louisiana-based real estate investment trust said it had funds from operations of $230.6 million, or $2.24 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 $152.2 million, or $1.50 per share.
The outdoor and transit advertising company, based in Baton Rouge, Louisiana, posted revenue of $595.9 million in the period.
For the year, the company reported funds from operations of $846.7 million. Revenue was reported as $2.27 billion.
Lamar expects full-year funds from operations in the range of $8.50 to $8.70 per share.
_____
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
/A%20Palantir%20office%20building%20in%20Tokyo_%20Image%20by%20Hiroshi-Mori-Stock%20via%20Shutterstock_.jpg)
/Nvidia%20logo%20and%20sign%20on%20headquarters%20by%20Michael%20Vi%20via%20Shutterstock.jpg)
/Micron%20Technology%20Inc_%20logo%20on%20building-by%20vzphotos%20vis%20iStock.jpg)
/Apple%20products%20arranged%20on%20desk%20by%20tashka2000%20via%20iStock.jpg)