Moorgate Capital Partners has analyzed out of home leverage and cost of debt trends thru March 2023.  The weighted average interest rate on public out of home debt has risen by approximately 1.5% over the last year due to Federal Reserve interest rate increases.   Lamar Advertising has the lowest weighted average cost of debt at 4.8%.  Clear Channel Outdoor has the highest cost of debt at 7.2%.  Public out of home company leverage (net debt to adjusted ebidta) has been declining over the past two years as the out of home companies have shaken off the impact of covid.  Lamar Advertising has the lowest leverage at 3.6 times.  Clear Channel has the highest leverage at 9.6 times.

If you are interested in obtaining Moorgate’s 1Q 2023 OOH report contact Jeff Seddon, Vice President, Moorgate Capital Partners, jeff.seddon@moorgatepartners.com, 609-276-2508.

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