OUTFRONT Media Inc. (OUT - Free Report) recently announced a two-year headlight domination package with John Foy & Associates on the Metropolitan Atlanta Rapid Transit Authority (MARTA). The company’s in-house studio — OUTFRONT Studios — has designed a creative for the headlight domination campaign, The Strong Arm, which started on Oct 2, and will run throughout the MARTA transit system.
The package provides John Foy & Associates, the premier personal injury firm, advertising rights to more than 400 MARTA bus headlights in the Fulton, Dekalb and Clayton counties. Several people residing in Georgia commute to Atlanta daily, making it the prime location for outdoor advertising.
Therefore, though John Foy & Associates had already advertised on the sides and tails of the transit system, expansion into headlights will further enhance the campaign’s visibility in the Atlanta market.
By partnering with OUTFRONT Media, John Foy & Associates’ campaign will be able to reach a vast number of people on a weekly basis, while the former will register solid top-line growth.
Art Martinez, SVP, Southeast region at OUTFRONT Media, noted, "This particular headlight domination package is a premier package in the marketplace and, due to its exclusivity, the package has been sold on a long-term basis for the past 15 years."
In addition, OUTFRONT Media recently announced that Movember’s out-of-home (OOH) advertisement will be displayed on the company’s assets. Prior to this, it had announced the acquisition of billboard assets in Chicago, IL, and also entered into an agreement to acquire four digital billboard displays in Atlanta, GA.
With the expansion of footprint and technology, OUTFRONT Media is banking on solid demand for OOH advertising. Both national and local advertising in the United States have been aiding its performance.
Shares of this Zacks Rank #3 (Hold) company have rallied 37.4%, outperforming the industry's growth of 22.3%, in the year-to-date period.
However, the company faces stiff competition from other outdoor advertisers for customers, display locations and structures. Also, frequent changes in the OOH advertising regulations at the international, federal, state and local levels might act as headwinds.
Stocks to Consider
Some better-ranked stocks from the REIT space include Duke Realty Corporation (DRE - Free Report) , Crown Castle International Corporation (CCI - Free Report) and Cousins Properties Incorporated (CUZ - Free Report) . Each of these stocks carries a Zacks Rank of 2 (Buy), currently. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Duke Realty’s funds from operations (FFO) per share estimates for the ongoing year have been revised marginally upward to $1.43 over the past month.
Crown Castle’s Zacks Consensus Estimate for 2019 FFO per share has been revised marginally upward to $5.79 over the past month.
Cousins Properties’ FFO per share estimates for the current year has been revised 1.7% north to $2.94 over the past month.
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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