BATON ROUGE, La. (AP) _ Lamar Advertising Co. (LAMR) on Monday reported a key measure of profitability in its third quarter.
The Baton Rouge, Louisiana-based real estate investment trust said it had funds from operations of $137.5 million, or $1.40 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 $96.2 million, or 98 cents per share.
The outdoor and transit advertising company, based in Baton Rouge, Louisiana, posted revenue of $399.3 million in the period.
The company's shares have climbed 4 percent since the beginning of the year. The stock has increased 15 percent in the last 12 months.