BATON ROUGE, La. (AP) — BATON ROUGE, La. (AP) — Lamar Advertising Co. (LAMR) on Friday reported a key measure of profitability in its second quarter.
The Baton Rouge, Louisiana-based real estate investment trust said it had funds from operations of $225.3 million, or $2.22 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 $154.3 million, or $1.52 per share.
The outdoor and transit advertising company, based in Baton Rouge, Louisiana, posted revenue of $579.3 million in the period.
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