LITTLE ROCK, Ark. (AP) — Uniti Group Inc. (UNIT) on Thursday reported a key measure of profitability in its third quarter.
The real estate investment trust, based in Little Rock, Arkansas, said it had funds from operations of $98.7 million, or 47 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 a loss of $19.5 million, or 10 cents per share.
The real estate investment trust posted revenue of $263.6 million in the period.
Uniti expects full-year funds from operations in the range of $2.07 to $2.12 per share, with revenue in the range of $1.06 billion to $1.07 billion.
The company's shares have declined 58% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $6.61, a drop of 68% in the last 12 months.