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Uniti: 2Q Earnings Snapshot

LITTLE ROCK, Ark. (AP) _ Uniti Group Inc. (UNIT) on Thursday reported a key measure of profitability in its second quarter.

The Little Rock, Arkansas-based real estate investment trust said it had funds from operations of $105.4 million, or 55 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 $38.2 million, or 20 cents per share.

The real estate investment trust posted revenue of $264.4 million in the period, missing Street forecasts. Three analysts surveyed by Zacks expected $265.6 million.

Uniti expects full-year funds from operations in the range of $2.08 to $2.13 per share, with revenue in the range of $1.07 billion to $1.08 billion.

The company's shares have decreased 45% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $8.52, a decline of 53% in the last 12 months.

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