BATON ROUGE, La. – BATON ROUGE, La. (AP) _ Lamar Advertising Co. (LAMR) on Wednesday reported a key measure of profitability in its first quarter.
The Baton Rouge, Louisiana-based real estate investment trust said it had funds from operations of $96.3 million, or 98 cents 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 $15 million, or 15 cents per share.
The outdoor and transit advertising company, based in Baton Rouge, Louisiana, posted revenue of $361 million in the period.
The company's shares have fallen 13 percent since the beginning of the year. The stock has decreased almost 10 percent in the last 12 months.
This story was generated by Automated Insights using data from Zacks Investment Research. Access a Zacks stock report on LAMR at https://www.zacks.com/ap/LAMR