At the Citi Global Property Conference earlier this month Sean Reilly was asked to give 3 reasons an investor should invest in Lamar and he said this.

(1)  “There are no net new billboards being built in America because of all the regulations.  And because of that our market share is protected and relative to other property sectors that’s a very unique thing.”

(2)  “We’re just on fire.  We just concluded an incredible fourth quarter where we set records on every financial metric…record revenues, record ebidta, record margins, record affo, affo per share…”

(3) “We are gaining share on our local media competitors because their audiences are under threat.  They are eroding.  There are fewer eyeballs watching network affiliate television because of the over the top cord cutting…We know the demise of print and newspapers…Those customers that used to use those outlets are coming our way.”

Billboard Insider’s take:  One of the things we appreciate most about Reilly is that he speaks in plain english.  Reilly’s three reasons to invest apply to out of home in general as well as Lamar.  Most roadside operators Billboard Insider knows are showing record revenue and are benefiting from barriers to entry and the shift of revenue from other media to out of home.

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