BATON ROUGE, La. (AP) — BATON ROUGE, La. (AP) — Lamar Advertising Co. (LAMR) on Thursday 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 $226.5 million, or $2.21 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 a loss of $1.3 million, or 1 cent per share.
The outdoor and transit advertising company, based in Baton Rouge, Louisiana, posted revenue of $579.6 million in the period.
For the year, the company reported funds from operations of $819 million. Revenue was reported as $2.21 billion.
Lamar expects full-year funds from operations in the range of $8.13 to $8.28 per share.
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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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