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Lamar Advertising Co.

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Lamar reported lower-than-expected first-quarter 2017 adjusted funds from operations (FFO) per share. The company’s results reflected year over year fall in operating income and cash flow from operating activities. Nevertheless, over the long term, Lamar’s diverse tenant base and an impressive national footprint are likely to aid its growth. The company is successfully upgrading its portfolio, raising advertising rate and occupancy in its existing displays. Also, shares of Lamar outperformed the Zacks-categorized REIT and Equity Trust – Other industry over the past six months. However, increased capital expenditures and higher expenses related to acquisition of outdoor advertising assets could reduce free cash flow and strain margins. Also, stiff competition and high interest rate pose challenges for Lamar.

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