This week Lamar refinanced its 5 3/8% notes with 3 3/4% and 4% notes Here’s a table showing borrowing costs for the public out of home companies. Over the past year Lamar has cut borrowing costs by almost 200 basis points by a series of refinancings. The table shows that […]
Yesterday, Insider had an article on Lamar Advertising’s announcement of a proposed private placement offering of approximately $1.0 billion of one or more series of senior notes. An additionally filed SEC disclosure provides more detail related to Lamar’s presentation to potential lenders, which expands on their notice from yesterday. The […]
Today’s podcast guest is Steve Haggard, President and CEO of Metro Phoenix Bank. He talks about making loans of $1-10 million to out of home advertising companies. Talk about Metro Phoenix Bank We are active with outdoor advertising media lending. We have actually been involved with that asset class […]
BATON ROUGE, La., Jan. 21, 2020 (GLOBE NEWSWIRE) — Lamar Advertising Company (LAMR) announced today that it intends to offer approximately $1.0 billion through an institutional private placement of one or more series of senior notes (the “Notes”) by its wholly owned subsidiary, Lamar Media Corp., subject to market conditions. […]
Seeking Alpha has run two pieces on billboard stocks this week. Outfront: A Long Term Investment Opportunity ran Monday . The financial analysis is shallow and simplistic but one sentence on OUTFRONT’s success at cross-selling transit and bulletins caught Insider’s eye: “According to the figures provided by Outfront Media, 86 […]
Earlier this week Red Star Outdoor purchased 8 Chicago out of home advertising structures from Total Outdoor. This week’s 8 structure sale to Red Star follows the sale of some Boston assets to American Tower (September 2019), certain Chicago structures to Outfront (September 2019), certain San Francisco faces to New […]
“We’ve done very well in an industry that has a tailwind behind it” was how Jeremy Male prefaced his comments at the Citibank Global TMT West Conference yesterday. Some other comments. On Digital Signs We’re converting pretty much every opportunity we can develop. We’re looking to get a minimal IRR […]
Red Star Outdoor, the iconic Chicago Out-of–Home Company, today announced the acquisition of select assets from Total Outdoor in Chicago, further cementing their dominance as the Independent Outdoor leader in the DMA, further cementing their dominance as the Independent Outdoor leader in the DMA. Red Star is known for controlling […]
What can we say about out of home stocks? The last quarter belonged to Clear Channel Outdoor. The last year belonged to OUTFRONT. The last five years belonged to Lamar. Here’s the data. Last quarter (3 months ended December 31, 2019) Clear Channel Outdoor up 15%. Lamar up 10%. The […]
Last week Standard Outdoor, a subsidiary of Standard Diversified, purchased the remaining Fairway Outdoor assets. Looks to Insider like Standard Outdoor itself is for sale. This paragraph is tucked into a November 18, 2019 Standard Diversified press release announcing a merger and reorganization. Emphasis ours. Prior to the consummation of […]
