LITTLE ROCK, Ark. (AP) _ Uniti Group Inc. (UNIT) on Monday reported a key measure of profitability in its first quarter.
The Little Rock, Arkansas-based real estate investment trust said it had funds from operations of $100 million, or 45 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 $79.1 million, or 41 cents per share.
The real estate investment trust posted revenue of $266.2 million in the period.
Uniti expects full-year funds from operations in the range of $1 to $1.03 per share, with revenue in the range of $1.05 billion to $1.06 billion.
The company's shares have decreased 13% since the beginning of the year. In the final minutes of trading on Monday, shares hit $7.16, a drop of 36% in the last 12 months.