BATON ROUGE, La. (AP) _ Lamar Advertising Co. (LAMR) on Wednesday reported a key measure of profitability in its first quarter.

The Baton Rouge, Louisiana-based real estate investment trust said it had funds from operations of $96.3 million, or 98 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 $15 million, or 15 cents per share.

The outdoor and transit advertising company, based in Baton Rouge, Louisiana, posted revenue of $361 million in the period.

The company's shares have fallen 13 percent since the beginning of the year. The stock has decreased almost 10 percent in the last 12 months.

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This story was generated by Automated Insights using data from Zacks Investment Research. Access a Zacks stock report on LAMR at https://www.zacks.com/ap/LAMR