Lamar and Outfront Were Quarter Two Standouts

Always nice to understand what the wider marketplace thinks about the Out of Home sector.  Below is a segment of a report from Hoya Capital Real Estate, a research-focused Registered Investment Advisor that advises ETFs and individual accounts by managing portfolios of publicly-traded commercial and residential real estate companies. They are very focused on the REIT sector and follow both Lamar and Outfront on a regular basis.

Here are their thoughts on Quarter Two Out of Home REIT’s.

Billboard: Specialty sectors were also among the standouts this week. Lamar Advertising and Outfront each rallied about 4% after reporting encouraging Q2 results. LAMR boosted its full-year AFFO growth outlook to 21.4%, up from its prior outlook of 7.7%, noting that billboard revenue for the period surpassed revenue for the comparable quarter in 2019. OUT, which owns a more public-transit-heavy billboard portfolio, reported signs of rapid improvement with “business recovering more quickly than we expected.” OUT announced plans to resume its dividend in Q3 while LAMR announced plans to boost its dividend above its pre-pandemic rate.

 

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