The four public outdoor companies were valued at  3.7 times gross revenue and 13.2 times cashflow at June 30, 2016 according the the Yahoo Finance pages for Clear Channel Outdoor, Outfront, Lamar and JCDecaux. 

• Lamar leads the group at a valuation of 6.4 times revenue and 15.3 times cashflow. Insider attributes this to the fact that Lamar has the highest margins of the group and is the least reliant on short-term transit and airport advertising contracts.

• Clear Channel Outdoor has the lowest valuation at 2.5 times revenue and 10.0 times cashflow. The market is concerned about Clear Channel Outdoor’s weak revenue performance, low margins and high debt.

• Insider has seen non-distressed outdoor transactions are trading at 5-6 times gross revenue or 8-10 times cashflow.

• Landmark Infrastructure is offering property owners 10-10.5 times annual rents for easements for properties with monthly rent in excess of $300 and annual inflators.  Landmark is encouraging people who want to sell to do a tax free exchange in which the seller receives publicly traded stock in Landmark in exchange for the easement.

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