Lamar reports 3Q results

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.

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