LITTLE ROCK, Ark. (AP) — LITTLE ROCK, Ark. (AP) — Uniti Group Inc. (UNIT) on Friday reported a key measure of profitability in its fourth quarter.

The real estate investment trust, based in Little Rock, Arkansas, said it had funds from operations of $119.5 million, or 44 cents 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 $40.7 million, or 13 cents per share.

The real estate investment trust, based in Little Rock, Arkansas, posted revenue of $283.7 million in the period, which missed Street forecasts. Three analysts surveyed by Zacks expected $285.5 million.

For the year, the company reported funds from operations of $469.7 million. Revenue was reported as $1.13 billion.

Uniti expects full-year funds from operations in the range of $1.36 to $1.43 per share, with revenue in the range of $1.15 billion to $1.17 billion.

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