Outfront Media Inc. OUT recently announced a move that extends its long-term relationship with the Washington Metropolitan Area Transit Authority (“WMATA”). On Mar 23, 2016, the New York-based real estate investment trust (“REIT”) deployed ON Smart Media displays at the entrance/exit way Navy Yard station of Green Line, just a block away from Nationals Park baseball stadium.
This ON Smart Media platform has not only provided WMATA a smart technology to keep countless passengers updated, but also the advertising partners of Outfront has received a wonderful platform with huge audience. The 15-second visual advertising slots, alternating with important information for the passengers, have opened up huge opportunities for WMATA.
Outfront is a lessor of advertising space on out-of-home advertising structures and sites across the United States, Canada and Latin America. The company’s portfolio mainly consists of billboard displays.
Notably, Outfront reported fourth-quarter 2015 net loss per share of 54 cents, as against net income of 23 cents per share recorded in the prior-year quarter. Earnings, excluding the losses on sale of real estate assets, were recorded at 21 cents per share during fourth-quarter 2015, down from 25 cents earned in the prior-year quarter. The Zacks Consensus Estimate for fourth-quarter earnings was pegged at 53 cents per share.
Outfront currently carries a Zacks Rank #3 (Hold).
Investors interested in the REIT industry may consider stocks like DCT Industrial Trust Inc. DCT, Easterly Government Properties, Inc. DEA and Douglas Emmett Inc DEI. Each of these stocks holds a Zacks Rank #2 (Buy).
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