BATON ROUGE, La. (AP) _ Lamar Advertising Co. (LAMR) on Thursday reported a key measure of profitability in its second quarter.
The real estate investment trust, based in Baton Rouge, Louisiana, said it had funds from operations of $177.8 million, or $1.75 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 $119.5 million, or $1.18 per share.
The outdoor and transit advertising company, based in Baton Rouge, Louisiana, posted revenue of $445.1 million in the period.
Lamar expects full-year funds from operations in the range of $6.10 to $6.30 per share.
The company's shares have risen 28% since the beginning of the year. The stock has climbed 60% 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