Seeking Alpha By Brad Thomas April 24, 2017
Well placed digital media is a perfect conduit for consumers to engage through social and mobile integration, and use apps more efficiently.
Today I am going to provide research on a billboard REIT that is also creating plenty of buzz.
I am initiating a BUY on OUT shares at the current price.
As many of you know, I am frequently in New York City, meeting with REIT executives or contributing on Fox (I will be on Fox & Friends this coming Friday morning).
While visiting New York, it’s impossible to miss the eclectic mix of eye-catching billboards scattered across the town – from the Bronx Zoo to the Brooklyn Gardens, and hundreds of neighborhoods in between.
In fact, billboards are an essential element of New York City real estate, as they tower above most all buildings in prime locations, making them almost impossible to ignore.
Billboards in New York City create buzz, that in turn prompts the consumer to engage in a specific audience or direct them to the retailer’s front door (real or virtual). Well placed digital media is a perfect conduit for consumers to engage through social and mobile integration, and use apps more efficiently.
It’s not just the massive billboards that create buzz, New York City is also a primetime market for advertisers to display content on street furniture, buses, commuter rail, subways and sports stadiums.
Today I am going to provide research on a billboard REIT that is also creating plenty of buzz. I will be adding OUTFRONT MEDIA to my Intelligent REIT Lab (including in the Forbes Real Estate Investor newsletter).
A Billboard REIT
OUTFRONT Media is one of the largest out-of-home media companies in North America. The portfolio includes more than 400,000 digital and static displays, which are primarily located in the most iconic and high-traffic locations throughout the 25 largest markets in the U.S. The company went public (IPO) on March 28, 2014 and began operating as a REIT on July 17, 2014.