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OUTFRONT Media (OUT) Supports New York's Civic Action Campaign
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OUTFRONT Media (OUT - Free Report) recently extended its support through the Partnership for New York City's new "We ♥ NYC " citywide civic action campaign. The campaign focuses on ways New Yorkers can help improve the city, prioritize public safety, support small businesses, and care for parks and litter cleanups.
Reflecting positive sentiments, shares of the company gained 3.49% on Mar 21 normal trading session on the NYSE.
OUTFRONT Media, through its exclusive digital transit advertising, will engage commuters utilizing digital signage throughout the NYC transit system (subway, bus, street furniture, billboards), which reaches millions of people daily (roughly 5 million trips daily across subways, buses and commuter rail).
The company also supported the press conference with its OUTFRONT PRIME inventory in Times Square, creating the backdrop of the event, in addition to the transit media. The same is expected to run for the duration of the campaign, along with billboards across the greater NYC area. Moreover, the media is anticipated to amplify through social channels.
Per Phil Stimpson, east region EVP at OUTFRONT Media, “OUTFRONT is extremely proud to support the Partnership for New York City to share 'We ♥ NYC’. As the lifeblood of NYC, the subway and overall public transit system are vital to everyday New Yorkers, its businesses, and the growth of our economy.”
In March 2023, OUT announced that the direct-to-consumer (DTC) hosiery brand, Sheertex, will launch a new out-of-home (OOH) campaign for its impossibly strong sheer tights. This new campaign – anchored by the phrase 'Really Strong Tights' – is a follow-up to Sheertex's successful 2022 'Alarmingly Strong Tights' campaign with the company.
The campaign, rolled out throughout February 2023, utilized 100 wrapped ultra super king buses in New York (Manhattan and Brooklyn), along with billboards in Chicago and posters in Toronto. Later into 2023, it plans to expand onto buses in Washington, DC.
Further, in November 2022, to harness the power of social and premium OOH assets across top-tier markets, OUTFRONT Media announced the enhancement of OUTFRONT PRIME with new social out-of-home (sOOH) capabilities.
OOH advertising has been growing at a rapid pace and continues to increase its market share compared with other forms of media. Given the technological advancements and low-cost nature of OOH advertising, it has been gaining traction in recent years.
In the upcoming years, higher technology investments are expected to provide further support to OOH advertising. Therefore, OUTFRONT Media’s efforts to provide a unique technology platform for marketers to tap growth opportunities bode well.
Nonetheless, OUTFRONT Media faces stiff competition from other outdoor advertisers for customers, display locations and structures, which is likely to limit the company’s pricing power in the market.
Also, rising interest rates are expected to increase borrowing costs, affecting the company’s ability to purchase or develop real estate.
Shares of this Zacks Rank #3 (Hold) company have lost 5.4% in the past three months compared with its industry’s fall of 2.7%.
The Zacks Consensus Estimate for Alexandria Real Estate’s 2023 FFO per share stands at $8.94.
The Zacks Consensus Estimate for Terreno Realty’s current-year FFO per share is pegged at $2.17.
The Zacks Consensus Estimate for Service Properties Trust’s 2023 FFO per share is pegged at $1.89.
Note: Anything related to earnings presented in this write-up represent funds from operations (FFO) — a widely used metric to gauge the performance of REITs.
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OUTFRONT Media (OUT) Supports New York's Civic Action Campaign
OUTFRONT Media (OUT - Free Report) recently extended its support through the Partnership for New York City's new "We ♥ NYC " citywide civic action campaign. The campaign focuses on ways New Yorkers can help improve the city, prioritize public safety, support small businesses, and care for parks and litter cleanups.
Reflecting positive sentiments, shares of the company gained 3.49% on Mar 21 normal trading session on the NYSE.
OUTFRONT Media, through its exclusive digital transit advertising, will engage commuters utilizing digital signage throughout the NYC transit system (subway, bus, street furniture, billboards), which reaches millions of people daily (roughly 5 million trips daily across subways, buses and commuter rail).
The company also supported the press conference with its OUTFRONT PRIME inventory in Times Square, creating the backdrop of the event, in addition to the transit media. The same is expected to run for the duration of the campaign, along with billboards across the greater NYC area. Moreover, the media is anticipated to amplify through social channels.
Per Phil Stimpson, east region EVP at OUTFRONT Media, “OUTFRONT is extremely proud to support the Partnership for New York City to share 'We ♥ NYC’. As the lifeblood of NYC, the subway and overall public transit system are vital to everyday New Yorkers, its businesses, and the growth of our economy.”
In March 2023, OUT announced that the direct-to-consumer (DTC) hosiery brand, Sheertex, will launch a new out-of-home (OOH) campaign for its impossibly strong sheer tights. This new campaign – anchored by the phrase 'Really Strong Tights' – is a follow-up to Sheertex's successful 2022 'Alarmingly Strong Tights' campaign with the company.
The campaign, rolled out throughout February 2023, utilized 100 wrapped ultra super king buses in New York (Manhattan and Brooklyn), along with billboards in Chicago and posters in Toronto. Later into 2023, it plans to expand onto buses in Washington, DC.
Further, in November 2022, to harness the power of social and premium OOH assets across top-tier markets, OUTFRONT Media announced the enhancement of OUTFRONT PRIME with new social out-of-home (sOOH) capabilities.
OOH advertising has been growing at a rapid pace and continues to increase its market share compared with other forms of media. Given the technological advancements and low-cost nature of OOH advertising, it has been gaining traction in recent years.
In the upcoming years, higher technology investments are expected to provide further support to OOH advertising. Therefore, OUTFRONT Media’s efforts to provide a unique technology platform for marketers to tap growth opportunities bode well.
Nonetheless, OUTFRONT Media faces stiff competition from other outdoor advertisers for customers, display locations and structures, which is likely to limit the company’s pricing power in the market.
Also, rising interest rates are expected to increase borrowing costs, affecting the company’s ability to purchase or develop real estate.
Shares of this Zacks Rank #3 (Hold) company have lost 5.4% in the past three months compared with its industry’s fall of 2.7%.
Image Source: Zacks Investment Research
Stocks to Consider
Some better-ranked stocks from the REIT sector are Alexandria Real Estate Equities (ARE - Free Report) , Terreno Realty (TRNO - Free Report) , each currently carrying a Zacks Rank #2 (Buy) and Service Properties Trust (SVC - Free Report) , currently carrying a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Alexandria Real Estate’s 2023 FFO per share stands at $8.94.
The Zacks Consensus Estimate for Terreno Realty’s current-year FFO per share is pegged at $2.17.
The Zacks Consensus Estimate for Service Properties Trust’s 2023 FFO per share is pegged at $1.89.
Note: Anything related to earnings presented in this write-up represent funds from operations (FFO) — a widely used metric to gauge the performance of REITs.