BATON ROUGE, La. (AP) — BATON ROUGE, La. (AP) — Lamar Advertising Co. (LAMR) on Friday reported a key measure of profitability in its fourth quarter.

The real estate investment trust, based in Baton Rouge, Louisiana, said it had funds from operations of $215 million, or $2.10 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 $149 million, or $1.46 per share.

The outdoor and transit advertising company, based in Baton Rouge, Louisiana, posted revenue of $555.9 million in the period.

For the year, the company reported funds from operations of $762.3 million. Revenue was reported as $2.11 billion.

Lamar expects full-year funds from operations in the range of $7.67 to $7.82 per share.

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